Newsletter - February 2024

Author

This month we look at: the redesigned Stage 3 tax cuts, SMSFs and property development, and a recent property case where the evidence didn't match the taxpayers claim.

 

  • The redesigned Stage 3 tax cuts

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. Pages 1-2. Read More

 

  • SMSFs and property development

Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems that often occur. Pages 3-5. Read More

 

  • A recent property case where the evidence didn't match the taxpayers claim

A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking. Page 6. Read More


 

Quote of the month:

“…no matter what life throws at you, seek out opportunities to contribute, to participate and to action change….have a crack, and as I like to say, don’t just lean in, leap in.”

Richard Scolyer - Joint Australian of the Year 2024

 

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