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…
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 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.
The Federal Budget delivered last night announced various measures to drive digitisation – both to encourage innovation and to streamline compliance and reporting.
Major changes to casual employment laws mean that there are now casual conversion provisions under the National Employment Standards (NES) which came into effect from 27 September 2021. In addition employers must also ensure each casual employee has been given the Casual Employment Information Statement as soon as is practicable. What is ‘casual conversion’? The NES now…
From November 2021, company directors will need to verify their identity as part of a new director identification number (director ID) requirement. A director ID is a unique identifier that a director will apply for once and keep forever. This applies to directors if their organisation is a company, registered foreign company, registered Australian body or…
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 determine if a new employee has a “stapled” super fund and request the details from the ATO where a new employee has not nominated a super fund. A stapled super…
URGENT needs action now: Super Contributions for the year ended 30 June 2021 For Super contributions to be deductible in this financial year, they will need to be received by your, or your employees, super fund by 30 June 2021. If you use a clearing house to distribute super contributions, you will need to allow…
If you have hired new staff members from 7 October 2020 onwards, you may be eligible for JobMaker Hiring Credit.
From January 1, 2021 major reforms to Australia’s foreign investment framework take effect, with new requirements for foreign investors.