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Tax News
Super is now following new employees   The ATO is reminding employers that, as of 1 November 2021, there is an extra step they may need to take to comply with the choice of super fund rules.
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Preparing for the new Director ID regime   As part of its Digital Business Plan, the Government announced the full implementation of the ‘Modernising Business Registers’ program. 
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  From November 2021, directors of Australian companies will be required to apply for and verify their identity to register for a Director Identification Number (DIN). A DIN is a 15-digit identifier issued to a current or prospective director after they have verified their identity with Australian Business Registry Services (ABRS). Once a DIN is…
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Extra super step when hiring new employees   Employers may soon need to do something extra when a new employee starts to work for them.
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Extending administrative relief for companies to use technology   The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001
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Reminder of superannuation caps indexation for 2022   From 1 July 2021, the superannuation contributions caps have been indexed for the 2022 income year.
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The NSW government is offering businesses support grants to help alleviate cash flow constraints while trading is restricted. The grants can be used to cover business related expenses such as rent, utilities and wages, for which no other government support is available.
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Super guarantee contribution due date for June 2021 quarter   The due date for employers to make super guarantee contributions for their employees for the June 2021 quarter is 28 July 2021.
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Many of our business clients like to review their tax position before the end of the income year and evaluate any strategies that may be available to legitimately reduce their tax.  Traditionally, year-end tax planning for small businesses is based around accelerating deductions and deferring income.  However, this year, consideration will also need to be…
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Tax saving strategies prior to 1 July 2021   A strategy often used to reduce taxable income (and, in turn, tax payable) in an income year is to bring forward any expected or planned deductible expenditure from a later income year.  However, in light of the continued impact of the COVID-19 pandemic, any tax planning…
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