With the FBT year now ended, ATO has revealed its data matching tactics to dig up every piece of information in relation to motor vehicle benefits, so be warned as there are key areas to watch.
With the taxman taking a hard line on those who put too much into their super fund, we give you tips on avoiding the excess contributions tax, and provide our guide on mandatory "market value" reporting for asset valuations for SMSFs.
If your business provided you with a loan, waived a debt that one of your associates owed or made some other such generous gesture, get to know "Division 7A" tax integrity measure and its implications
There's an R&D Tax Incentive deadline approaching, but if you've decided to sell your business there are myriad of loose ends to tie up in our handy checklist on our Tools & Resources page.
And, late in March, GJB were recognised as the Best Accounting Business to Work In 2013. Please visit our blog to read all the news about our recent accolade or CLICK HERE to open this month's newsletter which covers:
ATO revving up its car FBT crosschecking efforts: The ATO reminds employers that it is actively using data matching to identify potential FBT obligations associated with motor vehicles.
Take care when tapping the business's money: What is Division 7A and how does it apply to you?
Tips to prepare for the R&D Tax Incentive deadline: Tax incentives are available for businesses undertaking R&D activities.
Selling your business: What is involved in winding up your business and the loose ends that will need to be tidied up.
Tips on how to avoid paying excess contributions tax: When it comes to making super contributions, make sure that you observe the caps.
Complete guide on SMSF asset valuation: What you need to know about asset valuation guidelines for your SMSF.
All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. Should you require more information regarding any topic touched upon in this newsletter, please feel free to contact GJB on 02 9686 3130 for advice.