{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"BK Pod","title":"Episode 6: Tax & Super: The year that was, and the year ahead","html":"","width":"100%","height":180,"duration":2627,"description":"Episode Summary:In this episode, Darren Hagarty, a technical specialist with ABN, delivers an insightful session on key changes in the tax, superannuation, and GST landscapes for 2024, with a forward look into 2025. Darren explores pressing topics from the Australian Taxation Office's (ATO) current areas of focus and legislative updates to court cases shaping the field. This episode is a must-listen for BAS agents, bookkeepers, and anyone looking to stay updated on the latest developments impacting tax and superannuation compliance.IntroductionDarren opens with an overview of the episode’s focus, highlighting the importance of tax and super compliance awareness for bookkeepers. He emphasizes practical insights over standard tax rate changes, aiming to equip listeners with knowledge of ATO's latest priorities and potential pitfalls.Income Tax and Rental PropertiesDarren dives into income tax, focusing on rental properties. He shares the ATO’s heightened scrutiny on rental property deductions, especially around interest deductions, repairs vs. improvements, and private use adjustments. He emphasises the necessity of accurate records to avoid common compliance issues.Superannuation and ContractorsThis segment addresses the superannuation guarantee (SG) obligations for contractors, a common compliance challenge. Darren discusses recent legal cases with contrasting outcomes, highlighting the risks and the complex SG rules that apply even to contractors with ABNs.Personal Services IncomePersonal Services Income (PSI) is a hot topic, with new ATO compliance guidelines making it essential for business owners to assess the risk of their income arrangements. Darren explains the PSI rules and potential compliance pitfalls for those using companies or trusts to manage personal service income.TrustsDarren discusses the complexities of managing trusts, from trust distributions and elections to new ATO compliance rules. He breaks down real-world examples of distribution errors...","thumbnail_url":"https://img.transistorcdn.com/5jvdB-te3vmX_Oth0tdqjulDCpoYnKbpNZrcDUKC2FQ/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xNzY2/MzYyNGUyMDQ2NTQz/NzA0OTdmNTJiZmQ3/MGFkZi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}