We are pleased to supply you with the latest edition of Client Alert, which contains information on a number of important developments up to and including 26 May 2025.
- Tax and your child’s money: what parents need to know – If your child has a savings account or receives other income, you need to know how to help them manage their finances and meet their tax obligations.
- Working out your WFH expenses this tax time – Remember, to be eligible to claim WFH expenses, you need to be genuinely working from home to fulfil your employment duties, not just checking emails or taking occasional calls.
- Instant asset write-off extended to 30 June 2025 – The instant asset write-off enables eligible businesses to claim an immediate $20,000 deduction for the business portion of the cost of an asset in the year it is first used or installed ready for use.
- Playing music in your business? Get your licensing sorted – Most music is legally protected by copyright, meaning businesses need permission or a licence to play it in public settings.
- ATO warns about misinformation on super changes circulating online – Are you worried about rumours claiming your super preservation age will change from 1 June 2025? The ATO has confirmed these claims are false.
Explanatory Memorandum_June 2025
Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.