| The COVID-19 period in everyone’s life continues, and as time goes by more issues keep arising regarding certain tax matters. One such issue, which the ATO has realised may be a concern, is the changed rental property market, and the deductions for expenses that are and are not available. |
| We also consider the issue of passive income and where this figures when qualifying for JobKeeper. There has also been a temporary change made to bankruptcy laws because of the economic fall-out of COVID-19. |
| Also, as tax time does not simply disappear because of a certain virus, we offer some end-of-financial-year last minute tax tips, a warning on issues stemming from property development undertaken by SMSFs, and how resident or non-resident status affects tax outcomes. |
| Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter. |
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