A change in the 2019 tax return means that SMSFs who want to make a personal super contribution and claim the deduction will need to plan ahead, especially where they plan to start a pension shortly after, says a technical expert.
More advisers are seeking courses in data science or technology as automation and big data plays a larger role in the advice space, says one education provider.
While the annual tax return for 2019 does not contain as many adjustments as the one last year, an SMSF software firm has flagged some of the key changes, including new requirements to report bank account details and information relating to loans.
While the taxpayers who incorrectly received excess determinations for non-concessional contributions have been given an extension for their election due date, some of these clients had already paid for advice to deal with the determination, says an industry law firm.
BGL is proud to announce the release of its Simple Fund 360 2019 Tax Time software to clients. The new software includes the 2019 SMSF Annual Tax Return, all the required supporting schedules and electronic lodgement through the ATO’s Practitioner Lodgement System (PLS).