With the 2021-2022 tax season about to kick into full swing, the Australian Taxation Office (ATO) has revealed its four main areas of focus for this year. And as cost-of-living pressures start to bite into taxpayers' budgets, the AT …
There are important changes to superannuation – effective from 01 July 2022 – that will have implications for employers, their payroll management and (potentially) their cash flow. The two key changes, announced as part of last year …
With the end of the 2022 financial year fast approaching, meeting with one of our Advisers for a Tax Planning session is a great way to address future planning, cash flow management and preparing for your tax liabilities. Taking the …
As part of last year's Federal Budget handed down on 11 May 2021, the Australian Government announced it will remove the $450 per month earnings threshold for employees to receive superannuation guarantee contributions from their e …
Businesses will have another year to utilise the temporary full expensing of depreciating assets measure after it was extended to end on 30 June 2023. The measure was originally introduced in 2020 to encourage business investment in …
While income tax and company tax seem to be front of mind for most businesses, Fringe Benefits Tax (FBT) is also applicable when employers provide certain benefits to their employees or associates of employees (usually family member …
The federal government is set to make COVID-19 tests tax-deductible for Australian individuals and exempt from fringe benefit tax (FBT) for businesses when they are purchased for work-related purposes. …
As we kick off 2022, now is an ideal opportunity for you to review your financial position to set yourself up for the year ahead. To help you get started, we’ve put together a short 10-point checklist of financial things to think ab …
From 01 November 2021, employers will need to determine if a new employee has a “stapled” superannuation fund and request these details from the ATO in the event that the new employee has not chosen a super fund. A stapled super fun …
From 01 November 2021, ‘fund stapling’, as legislated by the Federal Government, comes into effect. So, what is ‘fund stapling’ and what does this mean for you? …