The State Government has established a Community Infrastructure Fund to support community infrastructure initiatives throughout Tasmania. The Fund will be open to not-for-profit organisations (incorporated or registered under company law), local councils (including council-owned businesses) and private sector businesses to assist with capital costs...
Client Alert: change to tax withholding tables from 1 October 2016!
30 Sept 2016
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 deadline is fast approaching!
21 June 2016
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.
2016 Federal Budget
4 May 2016
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...
WARNING! Telephone Scammers Threaten Arrest to Recover Fake Tax Debts
29 Sept 2015
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 for employers and Self Managed Super Funds
26 June 2015
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.
Federal Budget Bulletin - May 2015
13 May 2015
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...
July 2014 Client Bulletin
11 July 2014
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...
Internal Controls in your Community Organisation
25 June 2014
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...
SuperStream changes for employers and Self Managed Super Funds
24 June 2014
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 ...