Budget Super Reforms On The Horizon

The government has released details on proposed changes to super announced as a part of the 2020-21 Federal Budget. The changes are aimed at reducing unnecessary fees by ensuring super is paid to a single default account for employees, increasing transparency of super products via the introduction of a rankings website, conducting annual performance tests for various […]

Data-Matching Program: Online Selling

Online sellers beware, the ATO has extended its current data-matching program for another 4 years to ensure that businesses and individuals are correctly meeting their registration, lodgment and tax obligations. The current program will affect most sellers on eBay Australia and New Zealand as well as Amazon. It is expected that around 20,000 to 30,000 […]

Ongoing Data-matching Apprentices and Trainees

Businesses with an apprentice or trainee beware. The Department of Education, Skills and Employment has commenced a new ongoing data-matching program in relation to the Supporting Apprentices and Trainees (SAT) measure. The Department is seeking to confirm the eligibility of employers receiving the subsidy as well as stamp out any potential double-dipping of government assistance. […]

Has Your Employer Underpaid Super?

Are you an employee that has been underpaid super by your employer? If you think that’s the case, and you’re keen to claw back what’s rightfully yours, there’s a few routes you can take. Perhaps the easiest way, provided you have the proper documentation, is to lodge a super enquiry with the ATO. Most complaints […]

New Corporate Residency Test: More Details

In order to provide certainty for foreign incorporated businesses conducting operations in Australia, the government announced in the 2020 Budget that it will be seeking to make changes to clarify the corporate residency test. While details have not been forthcoming in the days since the Budget, the Board of Taxation has recently released its review […]

JobMaker: How Your Business Can Take Advantage

If your business is thinking of hiring new staff, now is the time, the Government will pay employers a subsidy of sorts for each eligible young worker employed over the next 12 months. The amount of the payment depends on the age of the employee, but may be up to $200 per week for those […]

Potential Changes to The Childcare Subsidy?

In its Budget reply speech, Labor has earmarked changes to the childcare subsidy should it win the next election which could occur as early as late 2021. As a part of its plan to get the economy back on track and women working more hours, Labor has proposed the removal of the annual cap of […]

New Centrelink and ATO Data Matching Program

A new data matching program between the ATO and Centrelink is currently underway and will apply for the 2019-20- and 2020-21-income years. The program relates to the use of Single Touch Payroll (STP) data. It is estimated around 460m pay events will be exchanged during the active period and will affect approximately 10-12m individuals who […]

Flexibility For SMSF Membership Coming Soon

The maximum number of allowable members for SMSFs could soon increase from 4 to 6 if a recently reintroduced Bill passes Parliament. The Bill was previously a part of the 2018-19 Budget measures and was aimed at providing more flexibility to many SMSFs with aging members and larger families. By allowing more members, the government […]

Be Careful When Changing Business Structures

While some sectors of the economy is suffering, others are booming, if you’re lucky enough to have a small business in a rapidly growing sector, you may be considering a change from a relatively simple sole trader business structure to a more formal structure such as a company or a trust. Changes such as this […]

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