What to expect in Phase 2 of Single Touch Payroll
November 17, 2021
In 2022, Phase 2 of Single Touch Payroll (STP) will come into effect. This expansion of STP is intended to reduce reporting burdens for employers who need to report information about their employees to multiple government agencies, as well as...
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New director identification requirements apply from 1 November 2021
November 8, 2021
From November 2021, directors of a company in Australia will need to verify their identity and apply for a director identification number (DIN) via the Australian Business Registry Services (ABRS) website. A DIN is a unique 15-digit identifier that, once...
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As Data Matching advances, Tax Audit Insurance is more important than ever
September 1, 2021
As the new financial year kicks into gear, it’s important to set yourself up for success by putting measures in place to protect your business and personal interests. In recent years, developments in data-matching technology have allowed the ATO to...
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2021 COVID-19 Business Support Grants Available
August 20, 2021
The Queensland Government has released a grant program to support eligible Queensland businesses that have been directly and indirectly affected by the August 2021 COVID-19 lockdowns. The program is designed to support employing small and medium sized businesses and not...
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Changes to SuperStream on 1 October
August 2, 2021
On 1 October, the ATO will implement changes to SuperStream obligations. In this post, we outline what SuperStream is, how the ATO standards for implementation could affect you and how you can make sure you’re SuperStream compliant. What is SuperStream?...
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Are you ready for the July 1 changes to superannuation?
June 23, 2021
From 1 July 2021, a number of changes to superannuation will take effect. The compulsory superannuation guarantee (SG) rate will rise for the first time since 2014, the maximum amount of SG an employer is required to pay based on...
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Strategic Planning – Pre 30 June
May 25, 2021
As we are fast approaching the end of the financial year, it is important to consider what eligible tax planning initiatives may be available to you or your business. There are a number of tax planning initiatives available to assist...
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Working from home – FBT obligations for employers
April 9, 2021
As employee working from home arrangements have become common-place, it is important for employers who provide benefits and support to their employees, to understand their tax obligations including the application of fringe benefits tax. As an employer, your fringe benefits...
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Temporary Full Expensing of Assets for Businesses
March 22, 2021
Announced in the 2020 federal budget, the Government introduced a temporary measure to allow businesses to claim an immediate deduction for the full cost of eligible capital assets. Under the new measure, businesses with aggregated annual turnover of less than...
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Change to Super Contribution Caps
March 4, 2021
As of 1 July 2021, the contribution caps for concessional and non-concessional contributions are set to increase due to indexation. Concessional Contribution Cap Indexation Concessional contributions are contributions made into a super fund before tax, and are taxed at a...
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