Blogs
Remission of additional super guarantee charge penalty
With the transition to Single Touch Payroll almost complete for all employers within Australia, the ATO now has considerably more information to identify superannuation guarantee non-compliance in real time. Employers that do not make sufficient quarterly…
The changing nature of debt
Australians delight in their nation punching above its weight. But there’s little to celebrate in being the world’s silver medallists – we’re a nose behind the Swiss – when it comes to household debt. With the present-buying, holiday-taking season nigh, millions of…
When did you last review your SMSF’s investment strategy?
You may be aware that the Australian Tax Office (ATO) has issued letters to nearly 18,000 SMSF trustees as part of a campaign to ensure trustees are aware of their investment obligations. Of key concern is ensuring that trustees have considered diversification and…
Small business CGT concessions: when do I qualify?
Have you considered the powerful tax and superannuation planning opportunities that the small business CGT concessions can offer your business? They allow you to reduce – or sometimes, completely eliminate – the capital gain from the sale of a business asset, whether…
Unpaid Super: important amnesty update
The government is getting tough on employers’ unpaid compulsory super guarantee (SG) contributions that may be affecting more than 2.8 million workers. Fortunately for businesses, it has recently announced a revised “grace period” to rectify past…
Salary sacrificing loopholes: are you receiving your full benefits?
Have you heard about the salary sacrificing loopholes that can adversely affect your retirement savings plans? Under current laws, employees who sacrifice some of their salary in return for additional super contributions may end up receiving less than they expected…
Getting the benefit of your business tax losses
When you’re starting a new business venture, it may take some time before the business becomes profitable. Or, your business may simply operate at a loss in a particular year. What does this mean tax-wise? If you’re a sole trader or individual partner, you may be able…
Pensions to rise as deeming rates fall
It’s been a long time coming, but up to 630,000 retirees could soon enjoy a small but welcome increase in their Age Pension payments following a cut in deeming rates used for the pension income test. Under the Age Pension income test, you are ‘deemed’ to earn a…
Insurance in super: the impact of proposed changes
There are new rules on the way that will require young adults and members with low super balances to actively “opt in” to holding insurance in super. If you’re in either of these categories, or perhaps have adult children in the workforce, now is a good time to ensure…
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