STP Phase 2 – What this means for you as an employer
The expansion of STP is intended to reduce reporting burdens for employers who need to report information about their employees to multiple government …
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Introducing your Director ID requirements
From the 1st of November, Australian Company Directors are required by law to verify their identity with the Australian Business Registry Service and …
MySuper performance test results and new super comparison tool
This year marks the beginning of annual performance tests on MySuper products, run by the Australian Prudential Regulation Authority (APRA). The tests …
New stapled super changes coming for employers
Employers get ready – there’ll soon be an extra step involved when it comes to hiring new employees. From 1 November 2021, employers will need to …
Closing a business? Don’t forget the GST registration
If the current prolonged lockdowns and economic conditions have prompted you to sell or close your business, it’s important to be aware of the need to …
State and territory COVID-19 support developments
Australian Capital Territory Expanded and additional support will be available for businesses affected by COVID-19 lockdowns, in the form of two grant …
Federal COVID-19 support developments
Additional financial support for child care providers The Prime Minister and the Minister for Education and Youth recently announced new support …
Reminder: Super changes for the 2021 financial year
The government’s long-slated “flexibility in superannuation” legislation is finally law. This means from 1 July 2021, individuals aged 65 and 66 can …
New sharing economy reporting regime proposed
The government is seeking to legislate compulsory reporting of information for sharing economy platforms in order to more easily monitor the …
Opportunity to repay COVID early-released super
Under the COVID-19 early release measures nearly 4.8 million requests were made – resulting in $39.2 billion being released from Australian’s …
ATO warns of rental property tax pitfalls
This tax time, the ATO is again closely monitoring claims in relation to rental properties. The ATO has data-matching programs in place that collect …
Budget 2021 -Tax Compliance
Allowing small businesses to pause disputed ATO debt recovery The Government will introduce legislation to allow small businesses to pause or modify …
Budget 2021 – Business Tax
Temporary full expensing: extended to 30 June 2023 The Government will extend the temporary full expensing measure until 30 June 2023. It was …
Budget 2021 – Superannuation
Superannuation contributions work test to be repealed from 1 July 2022 The superannuation contributions work test exemption will be repealed for …
Budget 2021 – Personal Tax
Personal tax rates unchanged for 2021–2022 In the Budget, the Government did not announce any personal tax rates changes, having already brought …
Life Insurance in Super: costs on the way up?
Having insurance through superannuation can be a tax-effective and cost-effective way of protecting yourself and your loved ones. Most funds offer …
ATO Reminder: Lodge your TPAR
The ATO is reminding owners of businesses that provide various services to lodge their taxable payments annual report (TPAR) for the 2019–2020 income …
It’s time to consider FBT
If your business has provided any benefits to your employees, you may be liable for fringe benefits tax (FBT). This includes benefits to current, …
Closely held payees: STP options for small employers
Small employers with closely held payees have been exempt from reporting these payees through single touch payroll (STP) for the 2019–2020 and …
Your Future, Your Super legislative changes
The Treasury Laws Amendment (Your Future, Your Super) Bill 2021 has been introduced to Parliament to implement some of the “Your Future, Your Super” …
Tax implications of having more than one job
With insecure, contract and casual work becoming increasingly common, particularly in the current COVID-19 affected economy, it’s no surprise that …