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 23 June 2025.
- Get it right this tax time: don’t lodge your return too early – Early lodgers are twice as likely to make mistakes on their returns, so the ATO recommends that tax returns be submitted later in July.
- Regulations have changed for buy now pay later services – All buy now pay later providers now need to hold an Australian credit licence and comply with consumer protection requirements.
- When someone dies: the tax to-do list – If someone close to you dies and you’re the one responsible for taking over their tax affairs, there are a number of steps you need to take.
- Accrued leave: take a holiday or take the payment? – If retirement’s on the horizon and you have accrued leave, there are tax, super and social security implications to consider when deciding whether to take a holiday now, or take the lump sum payment when you retire.
- What happens when SMSF trustees breach super laws? – Setting up your own self managed super fund can have its benefits, but it also comes with significant obligations.
Explanatory Memorandum_July 2025
Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.