What were our clients reading in 2019?
Tax rules for Australians working overseas, recent AASB changes and tax legislation affecting businesses and individuals were 2019’s most relevant topics. Here’s the list:
The Government’s 2017 Budget proposal to remove the CGT main residence exemption for all foreign residents has just become a reality.
AASB 16 Leases brings significant change to lease accounting for lessees as most leases will now need to be recognised on a lessee’s balance sheet. This six-part guide will help you prepare for the standard. It includes examples and diagrams for reference.
The 2019 FBT year is for the period 1 April 2018 to 31 March 2019. FBT returns are required to be lodged by 21 May 2019. However, the ATO provides tax agents with a lodgement extension up to 25 June 2019. If you are not lodging your FBT return through a tax agent then the lodgement date remains as 21 May 2019.
Many Australians dream about living and working overseas. Before packing your bags, we recommend you think about what steps need to be taken to ensure you don’t end up with a big tax bill on your return home. This article explores CGT, tax residency, investments, superannuation and other considerations for Australians preparing to work overseas.
The Long Service Leave Act 2018 (Vic) may be fairer and more flexible for women, parents and carers. If you have any queries on LSL requirements, please contact your trusted adviser.