Newsletter

The Australian Taxation Office (ATO) has provided a reminder that practitioners or their clients can choose to engage with the ATO to seek agreement on the tax issues that will arise in relation to certain commercial deals.

VERIFYING MARKET VALUES IN AN SMSF

Under regulation 8.02B of the Superannuation Industry Supervision Regulations 1994 (SISR), assets must be valued at market value in the SMSF’s accounts and statements.

21 OCTOBER 2018

• Annual pay as you go (PAYG) instalment notice (Form N) – due date for payment. Lodgement is only required if you vary the instalment amount or use the rate method to calculate the instalment.

• September 2018 monthly activity statements - final date for lodgement and payment.

Legislation passed by Parliament introduces a new test that will restrict some companies from accessing the lower company tax rate from the 2017-2018 financial year.