by Financially Sorted | Sep 1, 2023 | ATO, Property Investment, SMSF, Tax & Accounting
Once again, the ATO has targeted SMSF property development schemes that divert profits of a property development project to a SMSF. This time, the focus is on using a special purpose vehicle (SPV), which the SMSF directly or indirectly owns. It appears that some SMSF...
by Financially Sorted | Jul 24, 2023 | ATO
Understanding your ATO notice of assessment can change how your tax is calculated. A Notice of Assessment is generally issued to us individually by the ATO when we lodge, and the ATO ultimately processes our individual income tax return. Recently, the ATO confirmed...
by Financially Sorted | Feb 27, 2023 | ATO, Business, Business Support
An area that often gets private companies into hot water, is the blurred line between the company’s money and the owner’s money. This is an area that many clients often tend to get wrong and is a frequent item on the ATO’s radar. This is what is referred to as...
by Financially Sorted | Nov 30, 2022 | ATO, SMSF
A little while ago now, the ATO wrote a letter to boost trustee awareness to SMSF and other trustees about their invest strategies. The reason behind this is to have the objective to raise awareness. ATO’s Objective This did certainly raise many questions to our...
