Taxpayers defaulting on tax debts and lodgement requirements can soon expect contact from the ATO as it confirms the recommencement of its compliance actions in the wake of JobKeeper concluding.
The ATO has upheld its good-faith approach to the accounting of cryptocurrencies, however it isn’t likely to last much longer.
Some cryptocurrencies have experienced a surge in value (and interest) since the pandemic. However, there’s a long way to go before it becomes clear how to determine their fundamental value.
Once you decide to retire you can access your super as a lump sum or start an account-based pension (also known as an income stream) or do a combination of both. The benefit of starting an account-based pension is that it provides a regular tax-effective income during your retirement.
Inheritance is an emotional subject on every level. The people leaving an inheritance generally do it with pride and love. The people receiving an inheritance often receive it with gratitude – and sorrow. But while emotional, it’s also a financial transfer that comes with a whole range of legal, financial planning and admin issues attached.