Critical information
With unemployment expected to hit historic lows, read about the main tax and super issues when on-boarding workers in your March Newsletter.
With the deadline for March quarter employee superannuation contributions coming up next month, you can streamline the payment process – find out how in your March Newsletter.
Single Touch Payroll 2:
The time has come
In the May 2019 Federal Budget, the Government announced that Single Touch Payroll (STP) would be expanded to include additional information, building on the first stage of STP which was made compulsory for most employers from 1 July 2019.
Read MoreHave you obtained your director ID?
Make sure you do.
The director identification number (director ID) regime is now in place with Australia’s newest company directors having to comply first.
Director IDs are a unique 15-digit identifier that a director will apply for once and will keep forever, similar to a tax file number (TFN). A director can only have one director ID and they must use it for all relevant entities.
Read MoreCompensation Payments:
Superannuation fund trustees who receive compensation from financial institutions and insurance providers must consider how receipt of these payments may impact a member’s contribution caps.
Read MoreOn the road.
The ATO has released new guidance to help clarify the tax treatment of costs and allowances incurred when an employee travels or spends time living away from home – for work.
Read MoreWhat the new Your Future, Your Super means for you.
Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians.
The Federal Government says the Your Future, Your Super reforms will help ensure superannuation works in the best financial interests of all Australians by removing unnecessary waste, increasing accountability and transparency, and providing more flexibility for families and individuals.
Read MoreAvoid common mistakes in your business return, and include appropriate income
We know you want to get your tax right, so it may help you this tax time to know how to avoid making what the ATO has found are the most common tax mistakes.
Read MoreThe tax treatment of cryptocurrency
It’s been more than 10-years since the advent of bitcoin and the term “cryptocurrency” entered the public consciousness. However, neither bitcoin nor the many thousands of cryptocurrencies that have followed have become widely used for payments. Instead, people are more likely to use cryptocurrencies as a speculative high-risk investment class.
Read MoreThe Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses.
Read MoreEOFY tips for your tax plan
The financial year is almost over, but there are still effective strategies you may be able to put in place. The aim is to make sure you pay no more tax than you have to for the 2020-21 year and maximise any refunds you may be entitled to. This is still the case, if not more so, in the on-going COVID-19 environment.
Read MoreTo make sure you don’t miss any vital fringe benefits tax items, here is a comprehensive checklist.
Read MoreSome money is not counted as ‘income’ by the ATO
It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. However some of these amounts may be used in other calculations, and may therefore need to be included elsewhere in your tax return.
Read MoreUpdate your ABN ... or miss out!
Government agencies regularly access data contained in the ABN registration, and where this is not up-to-date the taxpayer may be missing out on stimulus measures, grants, and other government support.
Read MoreThe JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 on
the labour market.
Read MoreThe last Federal Budget carried with it a number of tax changes that were designed to assist the Australian economy recover from the impact of the COVID-19 pandemic.
Read MoreWhat the “full expensing” write-off deduction means for business.
Read MoreJobkeeper rules, conditions and payment rates have changed.
Read MoreWe are pleased to provide you with the latest edition of our newsletter. Inside you’ll find tax and super updates covering the latest issues, changes, and opportunities you need to know about.
Read MoreWe are pleased to provide you with the latest edition of our newsletter. Inside you’ll find tax and super updates covering the latest issues, changes, and opportunities you need to know about.
Read MoreWe are pleased to provide you with the latest edition of our newsletter. Inside you’ll find tax and super updates covering the latest issues, changes, and opportunities you need to know about.
Read More
