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.

Casual employment conversion provisions now in effect

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…

New ID requirement for directors

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…

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 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…

Important Update for Employers

Important Update for Employers

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…