This month we look at: ChatGPT, business strategies, 'downsizer' super contributions, and the ATO's stance on risky trust distributions...
Not being paranoid or anything but we were curious about the skills of the latest innovation to take the world by storm, ChatGPT, and its ability to work with the Australian tax system. Pages 1-2. Read More
- Full throttle in 2023 - business strategies
In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough. The downside of not taking time out for your strategy is that there is a tendency to keep a short-term focus at an operational level to try and pick quick wins to generate financial returns. Page 3. Read More
Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has reduced to 55 from 60, more people have an opportunity to use this strategy if it suits their needs. Page 4. Read More
The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions - changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. Page 5. Read More
Quote of the month:
"Curiosity will conquer fear even more than bravery will."
James Stephens
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