Electricity is in - Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency.
7 Nov 2023
On 28 February 2023, the Government announced from 1 July 2025 a 30% concessional tax rate will be applied to future earnings for superannuation balances above $3 million. A significant jump of 15%. The Treasury has now released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances above $...
8 June 2023
The ATO has recently released tax guidance (PCG 2023/1) on claiming tax deductions for working from home. It is important to be aware of these changes so that you can keep the appropriate records to maximise your tax claims in your 2023 Tax Return. In particular, you need to keep accurate records of the actual hours you spend working from home sta...
17 May 2023
The 2023 Federal Budget was announced on Tuesday 9 May 2023, with a focus on cost-of-living relief and modernising our economy. See below for the key tax and superannuation changes for business owners.
17 May 2023
The 2023 Federal Budget was announced on Tuesday 9 May 2023, with a focus on cost-of-living relief and modernising our economy. See below for the key tax and superannuation changes for individuals.
Lodge on Time - Directors of a company can be personally liable for outstanding payments of Tax and Superannuation
28 Feb 2023
An automated penalty is created for directors of a company the end of the day that their obligation is due. A Director Penalty Notice (“DPN”) is issued when no payment has been received for PAYG withholding and/or superannuation (SGC) debts within 3 months of the due date for lodgement.
10 Nov 2022
STP is the way you report your employees' tax and super information to the ATO and Phase 2 provides additional information that will be used by the ATO and Services Australia. STP Phase 2 was due to start on 1 January 2022 but many payroll providers have exemptions to start at a later date.