Erika Corsino, Author at W Wen & Co | Chartered Accountants & Business Advisors

ATO Guidance on SMSF Investment Restrictions: Know Before You Act

The ATO has recently released essential information regarding investment restrictions for self-managed super funds (SMSFs). If you’re a trustee or considering SMSF investment strategies, now’s the time to ensure you understand the rules before making a move. What You Can’t Do with Your SMSF Generally speaking, your SMSF must not: Remember, nobody associated with your […]

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Salary Sacrifice vs Personal Deductible Contributions: And the winner is…

Super is a great way to save for retirement. It offers an opportunity to invest in long-term growth assets and enjoy generous tax concessions along the way. For those wanting to make extra contributions and reduce their personal tax bill, there are two options: Both have their benefits, and choosing the right method depends on

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ATO Interest is no longer tax deductible on and after 1 July 2025

We would like to bring to your attention recent legislative changes that may affect the deductibility of certain ATO interest charges. From 1 July 2025, General Interest Charges (GIC) and Shortfall Interest Charges (SIC) will no longer be tax-deductible. This change applies to all GIC and SIC amounts, regardless of whether the charges relate to

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ATO’s Rental Bond Data-Matching Program – Key Updates

The ATO has announced a rental bond data-matching program for the 2024 to 2026 income years. The ATO will collect data bi-annually from State and Territory rental bond regulators, covering: The ATO estimates data collection on approximately 2.2 million individuals per year, reinforcing its compliance efforts. If you require tax advice regarding rental properties, contact

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NSW Land Tax Changes – Effective 2025

The Revenue Legislation Amendment Bill 2024 introduces significant updates to land tax thresholds, surcharge rates, and exemption criteria in New South Wales. These changes will impact property owners, investors, and foreign landholders from 1 January 2025. 1. Land Tax Threshold Freeze From 1 January 2025, land tax thresholds will be fixed at the following values:

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Changes to Foreign Resident Capital Gains Withholding (FRCGW) – What Property Sellers Need to Know

From 1 January 2025, the Foreign Resident Capital Gains Withholding (FRCGW) rules are changing, impacting all property transactions in Australia. Currently, Australian residents selling property must provide a clearance certificate to the purchaser at or before settlement to avoid 12.5% withholding on property sales above $750,000. However, under the new rules: These changes apply to

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