September 2024 | VOLUME 194
KSW Newsletter for Clients and Associates of Kreston Stanley Williamson
New ATO Guidelines on Personal Services Income
The ATO has issued a draft guideline (PCG 2024/D2) that may affect how small businesses manage personal services income. If you operate your business through a company or trust while providing services, it’s crucial to be aware of these changes. Learn more about understanding the ATO’s perspective on your income arrangements to help you avoid potential reviews.
How the Uber Payroll Tax Case May Affect You!
You may have seen recent reports on the Supreme Court decision involving Uber Australia and the NSW Payroll Tax department. Although the payroll tax department has the option to appeal, this ruling could significantly impact tax outcomes in other industries. Read more to view a summary of the case and the court’s decision.
The Myths on Market Valuations of Investments Held Within Your SMSF.
Myths surrounding the market valuations of investments in your SMSF can lead to misunderstandings. Common misconceptions include: ‘The property in my fund only needs to be revalued every three years’ and ‘Isn’t it the auditor’s responsibility to value the asset?’ It’s essential to clarify the actual requirements for valuing SMSF investments. Read more for detailed information.
Take 2 Minutes to Share Your Experience on International Business Expansion
This week is Kreston Week, celebrating #goingglobal and the spirit of Interpreneurship. KrestonSW is committed to supporting businesses in navigating growth in a dynamic global market.
We’re conducting a quick 2-minute survey to understand how Australian businesses are expanding, including the benefits and challenges they face. Your feedback makes all the difference. Read more here.
Kreston Stanley Williamson
*Correct as of 26 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.
