Welcome to the March edition of HCM News We have compiled a number of important updates to help you understand your personal and business income tax obligations including:
- Draft legislation authorising the ATO to disclose business tax debt to credit bureaux
- ATO determines employee share scheme dividends are assessable as income
- Housing affordability measures legislated to benefit first home buyers and downsizers
- ‘Phoenix’ tax avoidance unlikely with new GST arrangements on residential developments and subdivisions.
This month we’ve included Ken Yew, our Financial Services Manager who writes about understanding the new reporting requirements for SMSFs.
Please contact us to learn more about items in this HCM News and how these may affect your individual circumstances.