All of the latest tax news, views and clues for July 2025.
This Alert addresses:
- Get it right this tax time: don’t lodge your return too early – Early lodgers are twice as likely to make mistakes on their returns, so the ATO recommends that tax returns be submitted later in July.
- Regulations have changed for buy now pay later services – All buy now pay later providers now need to hold an Australian credit licence and comply with consumer protection requirements.
- When someone dies: the tax to-do list – If someone close to you dies and you’re the one responsible for taking over their tax affairs, there are a number of steps you need to take.
- Accrued leave: take a holiday or take the payment? – If retirement’s on the horizon and you have accrued leave, there are tax, super and social security implications to consider when deciding whether to take a holiday now, or take the lump sum payment when you retire.
- What happens when SMSF trustees breach super laws? – Setting up your own self managed super fund can have its benefits, but it also comes with significant obligations.
Important: This is not advice. Clients should not act solely on the basis of the material contained in this Tax Alert. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas. The Tax Alert is issued as a helpful guide to clients and for their private information. Articles in the Tax Alert are not to be republished or reproduced for further distribution without requesting permission from HLB Mann Judd. Therefore it should be regarded as confidential and not be made available to any person without our prior approval.