MNY Group 2020 March Newsletter


Access to the full version by clicking the link below:

MNY-March-2020

In March we have included Topics including:

ATO dusts off the “lifestyle asset” microscope
If you own a marine vessel, perhaps a thoroughbred horse or two, have a piece of fine art hanging on a
wall, high value motor vehicles
in the garage or an aircraft in the shed, it could be time to make sure your tax affairs are in order.

Limited options to access your super early
There are very limited circumstances when you can access your superannuation savings earlier than when you meet what the ATO calls a “condition of release” — which for most people generally means achieving a certain age and retiring.

Damage or destruction of a rental property
What happens if your property is damaged from the results of a natural disaster, or by tenants? Such a situation can affect the types of expenses you claim and the income you need to declare for your rental property.

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