August 2009: IMPORTANT NOTICE - Our Postal Address has changed ! We wish to advise that the new POSTAL ADDRESS for Lambourne Partners and Lambourne Partners Financial Planning Pty Ltd will be: P O Box 1050, Hamilton NSW 2303 Please note that all other contact details remain the same. May 2007: Lambourne Partners were pleased to announce the appointment of Greg Howley and Chad Nean as Associates to the partnership. Greg and Chad are longstanding employees of the practice and provide strength and maturity to both the business services and financial planning divisions. February 2009: Scott Lucas was accredited as a Specialist Auditor with the SMSF Professionals' Association of Australia Ltd. September 2010: · Click here to read our a September 2010 or, choose a newsletter by month. We are pleased to supply you with the September 2010 edition of Client Alert, which contains information on a number of important taxation developments up to and including 17 August 2010: - Payment Summaries and Reporting of Incorrect Super Amounts - The ATO says some employers have been incorrectly including compulsory super amounts as reportable employer super contributions on their employees' payment summaries.
- New SMSF Member Verification Process in the Pipeline - The ATO has announced that it expects to implement, later this year, a new self-managed super fund member verification process.
- ATO Keeps a Close Eye on the Cash Economy - The ATO has reminded taxpayers that increased data-matching and benchmarking will be used to identify businesses participating in the cash economy.
- Share Investor, Not a Share Trader - The Administrative Appeals Tribunal has found a taxpayer was not carrying on a share trading business but rather it held he was a share investor.
- Excess Super Contributions Assessments Upheld - The Administrative Appeals Tribunal has found it did not have the jurisdiction to review a decision of the Commissioner who had refused to disregard (or reallocate) excess super contributions made by two taxpayers.
- Soldier's Motor Vehicle Travel Expense Claim Denied - The Administrative Appeals Tribunal has denied a claimed deduction for motor vehicle travel expenses incurred by an Australian Defence Force soldier in transporting a kit from home to barracks.
- Superannuation Benefits - Timing of Payment by Cheque - The ATO has issued a draft determination which deals with the timing of payment by cheque.
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