What could change for taxpayers after the Federal Election? With the Federal election only weeks away, both major parties have set out their plans for taxation of superannuation, especially as it relates to SMSFs.  There are also new taxation plans for individuals and trusts.  But it can be hard to wade through all the policy speeches and interviews, so here is a quick summary of the current law and the possible changes to come after the election: Comparison of policy areas...

Another year another ATO crackdown! It seems each year, the ATO chooses a theme to focus its attention on when it comes to work related expenses. In years past, we've seen crackdowns on laundry, travel and self-education. This time round, the focus could fall on car expenses. Many small-medium businesses work on the principal that if the business incurred an expense, then it must qualify as being a deductible. Our response to this is may be, may be not! Let's first look ...