What's New @ Dewings?

Only a week ago, we discussed the looming 30th June deadline for trusts to nominate a beneficiary for SA Land Tax purposes. Demonstrating that a week is a lifetime in tax, that deadline has now been extended to 31st December 2021 with the passage of the Land Tax (Discretionary Trusts) Amendment Bill 2021. 

You can read the full version here.

We're counting down the days now to the end of another financial year, and as always, that means changes are just around the corner...from a tax point of view at least. There are few more significant ones this year for those in business, which we thought were worth highlighting.

You can read the full version here.

The Federal Treasurer Josh Frydenberg has handed down the 2021-22 Federal Budget - a mere seven months after last year's announcement, which was postponed from May to October due to the coronavirus pandemic. 

You can read our summary here.

Changes to Land Tax rules that came into effect on 1st July 2020 included provisions for discretionary trusts to nominate one beneficiary as the 'owner' of the property in order to avoid higher rates of Land Tax. The deadline for making those nominations is 30th June 2021.

You can read the full version here.

Superannuation contributions caps are set to rise for the first time in years on 1st July 2021. The increases have come about because of indexation provisions contained within the governing legislation. 

You can read the full version here.