June 2020 Newsletter

Current as of 19 June 2020
Volume 145

COVID-19 Stimulus Packages – Important Dates & Updates 
We are now well through the process in relation to the Stimulus packages. It is important to ensure nothing is missed in relation to concessions so in our article we have outlined an update of all the concessions available, as well as the relevant dates in relation to those concessions.

Removal of main residence exception for foreign residents – Reminder
A final reminder – if you’re a foreign resident, the transitional period to dispose of your former Australian main residence expires on 30 June 2020.

Please click here and read our article if you don’t currently live in Australia but still own a property that was your family home prior to 9 May 2017.

2020 End of Financial Year (EOFY) – Consideration of your SMSF 
The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception.

While the worst of the pandemic is (hopefully) behind us, trustees still have difficult questions to ponder as they focus on how best to position their SMSF for 2020-21, as well as meet their annual regulatory obligations for 2019-20.

Please click here to read our article which outlines meeting new pension requirements, contribution changes, Investment strategy and property assessment, $1.6 million transfer balance cap and total superannuation balance.

Last Minute Tax Tips for Individuals!
Tax planning is a year round activity at Stanley & Williamson, but June is the time to double check that any critical actions are taken before 30 June. We’ve spoken to lots of clients throughout the year and especially over the last few weeks about actions to take for their individual circumstances, but as we approach the end of the year we thought it worth reminding you of things that need to be attended to before the new year rolls around.

Our article should remind you of any areas you may have forgotten. Please click here to continue reading.

DISCLAIMER
This newsletter has been produced by Stanley & Williamson as a service to its clients and associates. The information contained in the newsletter is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this newsletter, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under Professional Standards legislation.