June 2025 AWST – Taxacct.com.au

Retrospective SMSF tax returns prohibited

Jun 3, 2025 at 6:35 am AWST by Ed.

From www.smsfadviser.com: An SMSF cannot lodge an amended tax return years after discovering a discrepancy.

Attempting to amend an earlier tax return could alert the ATO, leading to potential audits for the involved financial professionals.… read more

iPhone will

Jun 3, 2025 at 6:34 am AWST by Ed.

From www.smsfadviser.com: A recent court case highlighted the essential requirements for a valid will, emphasising that informal documents can sometimes be recognized as testamentary if the deceased’s intent is proven.… read more

PAYG instalments for business and investment income

Jun 3, 2025 at 6:26 amJun 2, 2025 at 12:00 pm AWST by Ed.

If you earn business or investment income, use PAYG instalments to make regular prepayments of tax.
See link Date published: Jun 02, 2025… read more

Update to PCG hybrid electric vehicle home charging rate

Jun 3, 2025 at 6:26 amJun 2, 2025 at 12:00 pm AWST by Ed.

Have your say on the plug-in hybrid electric vehicle home charging rate guideline.
See link Date published: Jun 02, 2025… read more

More time to update your NFP’s governing documents

Jun 3, 2025 at 6:26 amJun 2, 2025 at 12:00 pm AWST by Ed.

Self-assessing income tax exempt NFPs must have their governing documents in order by 30 June 2026.
See link Date published: Jun 02, 2025… read more