The Summer 2022 issue of Tax Matters has been published, and it is filled with information and insights about tax strategies for you and your business.
In this issue, the editorial offers informative knowledge as to why it is important to fill out tax returns for a deceased loved one. More often than not, the period after the death of a loved one is typically a very emotional and stressful time and thus a solicitor is highly recommended in cases such as these to ensure that all affairs are kept in order. The Australian Tax Office needs to be contacted to find out what is outstanding from the person who passed and a professional can assist in handling past and upcoming returns from the individual.
The article further delves into what 2023 may look like from a tax standpoint of the Low-Middle Income Tax Offset as well as providing insight into the 2022-2023 Federal Budget and the different types of legal expenses which are tax deductible.
The Summer 2022 article concludes with guidance regarding end-of-year workplace functions and their tax deductibility. Whether or not you’re planning a big event there are potential tax deductions that are worth exploring to make celebrating a little sweeter this year.