August 2024 | VOLUME 193
KSW Newsletter for Clients and Associates of Kreston Stanley Williamson
What Happens if I Accidentally Contribute Too Much to My SMSF?
Did you make a mistake with your SMSF contributions? Exceeding the 2024-25 caps—$30,000 for concessional and $120,000 for non-concessional—can cause tax penalties and affect future caps. Learn what steps to take if you accidentally over contribute, including how to manage excess amounts and avoid costly errors.
ATO Data Matching on Your Investments
The ATO is utilising data matching to verify that income and assets are reported accurately, targeting high-value items such as fine art and boats, as well as rental properties. Learn more about the ATO’s latest efforts and how they could impact you.
Australia’s ‘Fair Share’ Tax Reform Targets Multinationals
The latest Going Global magazine outlines major tax reforms affecting multinationals in Australia, including new regulations to limit excessive debt deductions. With stricter compliance and rulings on royalties, companies must adjust to comply with these changes. Read more about these tax reforms and their impact on the Asia-Pacific mid-market.
Kamal Thakkar attends Kreston Global’s 2024 Asia Pacific Conference in Hanoi
Kreston Global’s Asia Pacific Conference in Hanoi brought together leaders from different countries, including our own Partner, Kamal Thakkar. The event featured networking, new member introductions, and valuable insights from Kreston members. Read more about our involvement and key takeaways from the conference.
Kreston Stanley Williamson
*Correct as of 30 August 2024
*Disclaimer – this newsletter has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability is limited by a scheme approved under professional standards legislation.
