December 2023 - DGL Accountants

Tax on super balances above $3m hits Parliament

Dec 13, 2023 | Superannuation

Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament. While not a concern for the average worker, if enacted, those with significant property or other illiquid assets in their superannuation fund are most at risk, for...

Bah humbug: The Christmas tax dilemma

Dec 13, 2023 | Taxation

Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season. 1. Keep team gifts spontaneous $300 is the minor benefit threshold for FBT so anything at or above this level will mean that...

The controversial case of the taxpayer who claimed a loss on their home

Dec 13, 2023 | Taxation

A decision by the Administrative Appeals Tribunal has the tax world in a flurry after the Tribunal found in favour of a taxpayer who sold the apartment she lived in for a loss, then claimed the $265,935 loss in her tax return as a deduction. In this case, the taxpayer...

Tax on super balances above $3m hits Parliament

Bah humbug: The Christmas tax dilemma

The controversial case of the taxpayer who claimed a loss on their home

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