Here is our latest edition of the Tax Newsletter. It contains information on important recent tax developments

• Cheaper child care on the horizon – From 1 July 2023, the rate of child care subsidy that many Australian families are entitled to receive will increase.
• FBT reminder: electric cars exemption – Your business may be able to get an FBT exemption for certain eligible electric vehicles made available for the private use of your employees.
• Tax-records education direction measure now in place – As an alternative to imposing financial penalties for business record-keeping non-compliance, the ATO now has the power to require the business to complete an approved record-keeping course.
• Have you checked for lost and unclaimed superannuation? – The ATO has recently reported there is now $16 billion in lost and unclaimed super, and is urging Australians to check their MyGov account to see if some of the money is theirs.
• ASIC: insurance in super improvements – The Australian Securities and Investments Commission has re-reviewed the insurance arrangements of selected super funds after identifying issues in 2019.

For more information on any of the topics, please follow this link – April 2023 Tax Newsletter

If you have any further questions, please call us on 02 9580 3353