November 2017
Superannuation Transfer Balance Account Report
The ATO has recently released the new Transfer Balance Account Report (TBAR) which is used to record the value of member balances moving into or out of 'retirement phase' ie commencing or commuting pensions. It is important to note that SMSFs are not required to report anything until 1 July 2018 but they can start to report TBAR events from 1 October 2017.
The ATO has also developed occupation-specific guides to help taxpayers in specific industries and occupations understand what they can and cannot claim as work related expenses including:
In addition:
- Binding Death Benefit Nomination Upheld
- Reforms to stop companies avoiding employee entitlements
- Can travel in an Uber be exempt from FBT?
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