Thomas Davis Co July Client Alert 2021 MSI *|MC:SUBJECT|*

After experiencing our first recession in 28 years during FY20 - impacted by COVID-19, drought, bushfires, and severe storms, FY21 flipped the script. We've ended the year on a positive footing with sharp growth across the economy's landscape throughout the last 12 months. We hope you are all doing well - please reach out to us if you have any questions, or if there is anything we can do to help.

As a client of Thomas Davis & Co, you are able to receive updates from the MSI Australia, New Zealand and Fiji Alliance. Thomas Davis & Co is a part of this network of trusted professional services firms, expanding our capabilities across the whole globe. As a result, you receive the benefit of accessing this alliance.

Check out the latest content below from members of the MSI alliance, and some recaps of how we work together to help clients.

Thomas Davis & Co Update

New this month:
  • Temporary COVID Disaster Payment now available
  • Private health insurance rebates frozen
  • Cryptocurrency trading is subject to tax: new ATO data-matching program
  • ATO Compliance: Economic Stimulus Measures
  • Personal Use Assets and Collectables in SMSFs
Read the full summary here

Working From Home Deductions at Tax Time – The ATO's Crackdown Hotspot 

By mckinley plowman. Given the global shift towards Working From Home (WFH), it's more prevalent than ever to align ourselves with the tax office's best practice while still legally maximising our deductions. Check this article out for some tips!
Check out the blog here!

Oreon Client Success Story: LS Design Construct

By Oreon Partners. LS Design Construct has a great business story of the effects of 2020, focussing on targeted growth with the right mix of people and delivering value to their clients. With the support of Oreon Partners, they have a fantastic foundation for a successful future.

Check out the blog here!

Foreign Investment Review Board: Options for Developers

By Johnston Withers. Investment in Australian business, infrastructure and property is commonplace for foreign entities and individuals. Heres a great article with some tips for property developers and investors looking to dive into the market.

Check out the blog here!
Some other recent blogs include:

Landmark case: Duffy v. Google Inc. 
Should A Small Business Accountant Do Your Bookkeeping?
Some Money isn't Counted as 'Income' by the ATO
Income Splitting – New Rules from July 2021
The 2021-22 Australian Federal Budget