Do you need a big tax deduction?

Is your total super balance less than $500K as at 30 June 2021?

With the potential for business life to return to something resembling normal, it’s a good idea to take a look at your budget and see where you may need to shift some of your priorities. Pay attention to how your spending over the past few years affected your business and either helped you achieve, or took you away from, your overall goals.

Have a family trust? You could be affected by a new ATO ruling.

All Directors of Australian companies will now need to verify their identity as part of a new Director ID (DIN) requirement. A director identification number (director ID) is a unique identifier you will keep forever. It will help to prevent the use of false or fraudulent director identities.

Directors will keep the same DIN regardless of whether they become a director of another company, cease to be a director, change their name or move interstate/overseas.