What the Australian Tax Office is cracking down on in 2023 (including family trusts)
These are the 10 areas tax experts have flagged as being of particular interest to the ATO and which should help you achieve the best outcomes.
Source: afr.com
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Top News In Super Guarantee Today - Breaking & Trending Today
Deliberately not paying superannuation is 'wage theft' and the government is cracking down on it
Employers who deliberately don't pay their workers their full wages and superannuation on time could face tougher penalties under a federal government crackdown, with the possibility businesses will be made to make super payments more frequently.
Source: abc.net.au
Aussies happy with compulsory super: Data
Australians are firm believers in the superannuation system, with 80% of fund members believing those who are self-employed should also be mandated to contribute.
Source: financialstandard.com.au
Super tax concessions don't cost $45 billion a year and won't cost more than the pension
Estimates produced by the Grattan Institute and the Treasury assume that the right tax treatment for income from retirement savings is the same as income from other savings.
Source: theconversation.com
Super has become a taxpayer-funded inheritance scheme for the rich. Here's how to fix it – and save billions
Billions of dollars in super tax breaks simply end up boosting the inheritances of well-off children. Our new report shows how we can save money, while making super fairer for all Australians.
Source: theconversation.com