From July 1st 2021 superannuation guarantee increases to 10%. This will be followed by incremental half percentage point increases each year to 12 per cent on 1 July 2025. Employers need to be aware and start planning immediately. This change will impact their employee remuneration arrangements from 1 July 2021 and there will need to […]
Category Archives: Tax
25
May
May
Year end is looming. Be prepared as you can to avoid the year end blues.
01
Dec
Dec
Get ready to provide employees super choice Recent amendments to the law will give more Australians the opportunity to choose their own superannuation fund – preventing them from being locked into a specific super fund under the terms of an enterprise bargaining agreement. New workplace determinations and enterprise agreements made on or after 1 January 2021 […]
08
Jul
Jul
BUSINESS BULLETIN – Winter 2020
18
May
May
The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million). This applies from 12 March 2020 until 30 June 2020, for new or second‑hand assets first used or installed ready for use in this […]
18
May
May
If you haven’t paid the right amount of super guarantee (SG) to your workers, the SG amnesty is the time to come forward. If you disclose shortfalls during the amnesty, you can rectify past unpaid SG without incurring charges or penalties. The SG amnesty runs until 6th September 2020 however applications are accepted until 11.59pm […]
