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.

From 1 July 2021 the superannuation guarantee (SG) is set to increase to 10% from the current rate of 9.5%.

Since that time the ATO has been working in conjunction with the software industry to ensure the transition for these business types would be as smooth and as low cost as possible. We have been proactively encouraging or facilitating our clients to transition to STP and looking for solutions to lodgement requirements under the new regime.Whilst 1 J...

Legislation passed on 29 June 2012 extended the director penalty regime to:

Employees vs. contractorsAs part of its ongoing compliance program, the ATO will be checking that employees and contractors have been correctly classified as such, from an employer as well as service provider/employee perspective. The ATO is of the view that persons inappropriately classified as contractors may be under-reporting income, but may al...

New PPS legislation was recently passed which makes substantial changes to the registration of security interests in personal property. These changes are currently expected to commence in February 2012.