The individual tax rates are changing to reflect a measure previously announced in the May Budget which means that the 37% tax rate will apply to income exceeding $87,000 compared to the current threshold of $80,000.

SuperStream – the new COMPULSORY electronic regime for payment of employer super contributions and for submitting the related contribution information - commences from 1 July 2016. Additionally, SuperStream measures have implications for Self Managed Superannuation Funds which receive contributions from employers.

Last night, on 3 May, the Treasurer Scott Morrison delivered his first Federal Budget. Two factors shaped this particular Budget – the need to transition Australia’s economy from the mining boom to a more diverse one, and the looming election. The result was a “campaign platform” Budget which shied away from substantial tax reform and, unlike the i...

There has been a recent spate of fraudulent phone calls received by individuals from scammers claiming to be from the Australian Taxation Office or the Commonwealth Director of Public Prosecutions.

SuperStream – the new compulsory electronic regime for payment of employer super contributions and for submitting the related contribution information - commences from 1 July 2015. Additionally, SuperStream measures have implications for Self Managed Superannuation Funds which receive contributions from employers.

The Federal Treasurer Joe Hockey handed down his second Budget last night which was shaped by the Government’s experience with a politically unpopular prior year Budget and growing deficits. Delivering an upbeat outlook for Australia’s economic future, the Treasurer proclaimed the 2015/16 Budget to be “measured, fair and responsible” and designed t...

As we begin the 2014/15 financial year, a number of tax and compliance changes are coming into effect. Some changes remain announced but unlegislated while the Government is unable to get some measures through the Senate. In particular, the amendments to small business depreciation rules remain in limbo while we wait for the legislation to be reint...

Recently we have seen an increasing trend where ineffective internal controls have contributed to fraudulent activities in local community organisations. Sadly this has been brought on by tough economic times making community organisations tempting targets for potential fraudulent activity. There are numerous examples of recent cases in Tasmania w...

In 2011, the former government announced a raft of changes dubbed ‘Stronger Super’ designed to boost the superannuation system and to encourage people to become more educated and proactive with their super. One of these changes is the introduction of ‘SuperStream’ – the new compulsory electronic process for payment of super contributions and for ...

As foreshadowed in our earlier newsletter (link below) and after significant delays, the Personal Property Securities Register ('PPSR') regime became fully operational on 31 January 2014, after a two year transitional period.