SPAA takes aim at $2000 cap on self-education

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The Federal Government’s decision to cap tax deductions for self-education at $2000 flies in the face of its stated aim to improve professionalism across the financial services sector. The SMSF

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Pension changes a positive for SMSF trustees

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Changes to how non-reversionary pensions are treated when a pensioner dies will have far-reaching tax implications for self managed super funds. SMSF Professionals’ Association of Australia (SPAA) Director, Technical and Professional

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High income families could be in for $1000+ rebate shock at tax time

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As the financial year during draws to a close, financial research group CANSTAR warns that some high income families could be in for a nasty tax bill if they have

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Warren Buffett knows that tax rates matter

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There are important questions we need to answer about taxes. How progressive or regressive? How should rates vary on different  forms of income? How much of fixing our fiscal problems

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Time running out to lodge tax

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Do your clients prepare their own tax return? If so, they only have a week until the 31 October lodgment deadline. “I urge anyone worried about not meeting the deadline to

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ATO: take care what you declare!

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So far this tax time the ATO has already stopped 58,000 income tax returns containing suspected over claimed or fraudulent refunds. “Each year our ability to match data gets better,

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Scammers target job seekers

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So far this year the Australian Taxation Office has received more than 10,000 reports on a wide range of scams including fake job advertisements, emails and bogus phone calls. “One

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SPAA highlights SMSF tax deduction error

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The SMSF Professionals’ Association of Australia (SPAA) believes many SMSFs may be under-claiming valuable tax deductions. SPAA Technical Director Peter Burgess says discussions with industry players following the recent release

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New digital resources to help students understand tax and super

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A new digital resource has been launched to help high school students understand the principles of taxation and superannuation. Developed by the Australian Taxation Office (ATO), the new Digital Curriculum

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ATO prosecutes 1,500 for tax & superannuation offences

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The Australian Taxation Office’s (ATO) prosecution of more than 1,500 people for tax and superannuation offences sends a clear warning to tax cheats that they can expect to be caught.

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