In our December 2018 newsletter we advised that the legislation and arrangements to continue the roll out of Single Touch Payroll (STP) to small and micro employers was passed by the Senate. This meant that, with very few exceptions, all small and micro employers will need to register and be reporting their payroll through STP to the Australian Taxation Office (ATO).
Jul 09, 2019
From July 1, super funds are required to cancel default life insurance policies in funds where members have not made a contribution for 16 months, unless members actively "opt in" to the policy or reactivate the account.
Jul 03, 2019
As part of the government’s efforts to combat the black economy, and in response to the recommendations from the Black Economy Taskforce, a raft of new measures have been introduced to impose additional incentives for businesses to comply with their obligations.
May 24, 2019
With the Federal Election now out of the way, many businesses will turn to considering whether there might be any opportunities to reduce their tax liability for the year about to end on 30 June 2019. Just prior to calling the election, the Government managed to pass legislation extending the scope of its instant asset write-off. As a result, eligible businesses have an opportunity to substantially reduce their tax payable if they act before 30 June 2019.
Mar 19, 2019
As we approach the inevitable but as yet unannounced 2019 Federal Election, Australians are starting to consider policies of the major parties, and we are particularly interested in the policies related to tax and superannuation.
Mar 18, 2019
Up to 500 Tasmanian small businesses can expect a surprise visit from the ATO during March 2019, in particular those that advertise as being ‘cash only’ or those that operate outside of the ATO’s performance benchmarks, with certain industries more at risk of such visits than others.
Dec 06, 2018
After a long period of uncertainty, the legislation extending the electronic Single Touch Payroll (STP) reporting regime to employers with 19 or fewer employees was agreed to by the Senate on 5 December 2018.
Nov 30, 2018
We have been alerted to an increased incidence of phone calls from scammers claiming to be Australian Tax Office (‘ATO’) representatives. Whilst this is not a new scam, holiday season is a high risk period and people tend to let their guard down at this time of the year.