All of the latest tax news, views and clues for April 2023.
This Alert addresses:
- Cheaper child care on the horizon – From 1 July 2023, the rate of child care subsidy that many Australian families are entitled to receive will increase.
- FBT reminder: electric cars exemption – Your business may be able to get an FBT exemption for certain eligible electric vehicles made available for the private use of your employees.
- Tax-records education direction measure now in place – As an alternative to imposing financial penalties for business record-keeping non-compliance, the ATO now has the power to require the business to complete an approved record-keeping course.
- Have you checked for lost and unclaimed superannuation? – The ATO has recently reported there is now $16 billion in lost and unclaimed super, and is urging Australians to check their MyGov account to see if some of the money is theirs.
- ASIC: insurance in super improvements – The Australian Securities and Investments Commission has re-reviewed the insurance arrangements of selected super funds after identifying issues in 2019.