ATO Debt Recovery

ATO debt recovery and penalties – COVID holiday over

The ATO has warned it will be actively pursuing the recovery of outstanding tax liabilities and issuing penalties for late lodgement, after easing off on ATO debt recovery activities during the height of the COVID-19 pandemic. Taxpayers with outstanding tax debts and lodgements should expect communication from the ATO and are advised to develop an…

Taxable Payments

Taxable Payments Annual Reports due

Reminder that Taxable Payments Annual Reports are due 28 August 2022. All payments made to sub-contractors during the 2021-2022 financial year need to be disclosed. Reporting obligations apply to businesses that have paid sub-contractors in relation to the following industries: building and construction cleaning courier road freight information technology security, investigation, or surveillance services The…

retaining staff

Issues with success – finding and retaining staff

Issues with success is something of an oxymoron. But that’s how it’s been and continues to be for many business owners who have managed to thrive despite the pandemic, floods and bushfires, only to find their business success has created a raft of problems they must overcome in order to continue their success trajectory. In…

Superannuation Guarantee Changes

Superannuation Guarantee Changes from 1 July 2022

From 1 July 2022, two important superannuation guarantee (SG) changes will apply to your business. These are: the rate of SG is increasing from 10% to 10.5% the $450 per month eligibility threshold for when SG is paid is being removed. What this means for you These changes mean that from 1 July 2022 you’ll…

Superannuation Contributions for FY 2022

An employer must contribute to a complying superannuation fund before year-end in order to obtain a tax deduction for superannuation contributions. The superannuation contribution must be paid and cleared in the bank account before 30 June to claim a tax deduction. This will mean that payments should be made by 20 June to allow sufficient…

Tax Planning Solutions

Tax Planning Solutions 2021/22

Tax Planning is an overarching service that includes advice for tax efficient structures, ownership and holding assets. With these and other tax planning and structuring matters carefully considered, you’ll have confidence that you have maximised your tax effectiveness prior to the financial year end.