Newsletter - May 2023
Welcome to the NCS Group client information newsletter, your monthly tax and super update keeping you on top of the issues, news and changes you need to know.
- Temporary Full Expensing - get in quick!
This could be the final opportunity for your business to take advantage of Temporary Full Expensing (TFE)...but get in before 1 July! - How to claim an early tax deduction on SG contributions.
Are you an employer who needs to make superannuation guarantee (SG) contributions for your employees? If so, read more below. - Federal Budget - what to watch out for.
It's now only a week or so until the Federal Budget, which is to be handed down on 9 May. - Financing motor vehicles.
One of the most common decisions facing business is how to finance and account for the acquisitions of a motor vehicle. There are numerous ways of doing so, with each resulting in differing accounting, taxation and GST treatment. - Upcoming trust distribution strategies - latest developments.
If you run your business through a family trust, there's some good news on distribution front. - New reporting arrangements for SMSFs from 1 July 2023.
From 1 July 2023, trustees and directors of SMSFs must report certain events that affect their members transfer balance account quarterly.
Follow the link below to find out more.