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Hi, . Here are your Articles for 09/07/02020.'
 Timely Opportunities  
ATO Investigates Fraud: Early Release Super  
If you're one of the 2.4m Australians who has taken advantage of COVID-19 early super release, beware as the ATO is investigating fraud and schemes related to this measure. In announcing the significant investigation, the ATO has also given notice of a data-matching program to acquire data from Services Australia (Centrelink) which is projected to collect information from approximately 3m individuals. The data-matching program is expected to identify those applying for early release when they did not meet the criteria under the COVID-19 early release condition.
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 Sales and Marketing  
Commercial Websites: Navigating Capital and Revenue Deductions  
Australian businesses are increasingly adopting websites as essential sales and marketing tools. The Australian Bureau of Statistics (ABS) has reported that just under half of businesses have a web presence, and online ordering has increased, generating $286 billion in revenue in 2015. Similarly, social media engagement is trending upward, with a third of Australian businesses now using these marketing channels. As technological permutations continue to impact the way businesses operate, our taxation system must too keep pace.
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 Superannuation and Financial Planning  
Non-Arm's Length Expenditure And SMSFs: Compliance  
Amendments made last year changed the rules as to when complying super funds including SMSFs will derive non-arm's length income (NALI). Due to ATO concerns that this change has not been explicitly communicated, a guideline has recently released which provides a transitional compliance approach for complying super funds in relation to certain non-arm's length expenditure in gaining or producing ordinary or statutory income. Broadly, the ATO notes that it will not devote compliance resources to the issue for the 2018-19, 2019-20 and 2020-21 income years.
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