Category Archives: Client Alert

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 […]

End of Super Guarantee Amnesty: What’s Next?

The super guarantee amnesty which allowed employers to come forward to declare any super guarantee (SG) shortfalls and self-correct SG underpayments with reduced penalties has officially ended. For businesses eligible for the amnesty, the work is not over, to retain the benefits of the amnesty, the super guarantee charge amount disclosed in the application must […]

Super Guarantee Opt-out for High Income Earners

If you’re a high-income earner with multiple employers, there is a good chance that you may unintentionally exceed the super concessional contributions cap in any year, which may cause excess contribution issues. To remedy this, laws have recently been passed to allow you to opt-out of super guarantee. All you have to do is apply […]

Non-commercial Losses: Does it apply to you?

If you have a business in addition to your main employment, the non-commercial loss rules could apply to you, which may prevent you from deducting your business losses against your other income. Depending on your business activity, as long as you satisfy certain conditions, your business will not be subject to the non-commercial loss rules. […]

Crowdfunding: Is It Income?

Crowdfunding has fast become the go to place for people in need of large amounts of money quickly, but is the money raised considered to be income and therefore taxable? Campaigns on various platforms range from the shameless (lavish weddings/honeymoons) to ground-breaking (new innovative products), and whether each campaign is taxable depends entirely on the […]

Unpaid Super: Important Amnesty Update for Employers

Unpaid super is a big problem, and the compliance landscape is changing. If you’re an employer, now is the time to take action and protect yourself against penalties. Find out how enforcement activity will pick up under Single Touch Payroll reporting and learn about a new extended amnesty for disclosing past unpaid super. The government […]


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