How employers are being caught out by the timing of superannuation guarantee payments. Employers can generally only claim a deduction for superannuation contributions in the income year in which the contribution is made. Super contributions are made when the payments are received by the trust...
Read MoreThe Super Guarantee timing trap for employers
Wednesday, December 04, 2019
Super guarantee opt-out for employees with multiple employers
Wednesday, December 04, 2019
Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer.
Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens if you are an employee with multiple employers?
Until recently, these c...
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Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer. Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens if you are an employee with multiple employers? Until recently, these c...
Read MoreBushfire relief from ATO obligations
Wednesday, December 04, 2019
The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral
for activity statements lodgements and payments due has been provided to those in affected postcodes.
Taxpayers can also call...
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The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes. Taxpayers can also call...
Read More5 things that will make or break your business’s Christmas
Wednesday, December 04, 2019
The countdown to Christmas is now on and we’re in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. This dislocation and vo...
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The countdown to Christmas is now on and we’re in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. This dislocation and vo...
Read MoreAustralia embraces Black Friday and Cyber Monday
Wednesday, December 04, 2019
The Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year.
Why ‘Black Friday’?
For many Australians, Black Friday is just confusing – should...
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The Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year. Why ‘Black Friday’? For many Australians, Black Friday is just confusing – should...
Read MoreAre you paying your staff correctly? Woolworths $200m plus remediation
Friday, November 01, 2019
Woolworths is the latest company to facing a fallout from the underpayment of staff. In what is believed to be the largest remediation of its kind, Woolworths
have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (befor...
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Woolworths is the latest company to facing a fallout from the underpayment of staff. In what is believed to be the largest remediation of its kind, Woolworths have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (befor...
Read MoreCan the tax office take money out of your account? Your right to know
Friday, November 01, 2019
You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. The question
is, do you really know what powers the ...
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You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. The question is, do you really know what powers the ...
Read MoreCalculating Super Guarantee: The new rules
Friday, November 01, 2019
From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation
guarantee (SG) paid by the employer.
Under current rules, some employers are paying SG on the salary less any salary sacrificed ...
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From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer. Under current rules, some employers are paying SG on the salary less any salary sacrificed ...
Read MoreVacant land deduction changes hit ‘Mum & Dad’ property developments
Friday, November 01, 2019
Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.
Previously, if you bought vacant land with the intent to build a rental...
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Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land. Previously, if you bought vacant land with the intent to build a rental...
Read MoreCGT and the family home: expats and foreigners targeted again
Friday, November 01, 2019
The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign
residents.
Back in the 2017-18 Federal Budget, the Government announced that it would remove the ability for non-resident taxpayers ...
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The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents. Back in the 2017-18 Federal Budget, the Government announced that it would remove the ability for non-resident taxpayers ...
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