Tax and Super April 2021 Newsletter
It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. However some of these amounts may be used in other calculations, and may therefore need to be included elsewhere in your tax return.
When it comes to selling property and CGT liabilities, the timing of the transaction can be more important than many expect. We also look at the fact that not every type of income is taxed, with some money escaping tax altogether.
There are new insolvency reforms that could help some small businesses in their climb out of the COVID-19 bunker. We cover the deductibility or otherwise of the costs of re-financing a partnership, and provide some tips on managing your super fund’s transfer balance account.
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