Welcome to our November 2021 Bulletin Contents How to set up your Director ID SMSF Covid-19 Audit Relief Extended Overseas gifts and loans in the spotlight Tax and the Normalisation of Cryptocurrency How to set up your Director ID Directors are now required to register for a unique identification number that they will keep for…
Welcome to our October 2021 Bulletin Contents Unwinding COVID-19 Relief SME Recovery Loans What happens to your superannuation when you die? Recruiting new employees? The 1 November superannuation rule changes Unwinding COVID-19 Relief COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19, does…
Welcome to our August 2021 Client information Bulletin Contents 6 Member SMSFs – the issues and opportunities Business in a post pandemic environment The National Plan’s impact on business New laws target sharing economy platforms 6 Member SMSFs – the issues and opportunities From 1 July 2021, the maximum number of members a Self Managed…
Prior to year-end it is worthwhile reviewing superannuation contribution as to the types of contributions that can be made and the amounts that can be paid to ensure contributions have been optimised for 2020-2021 year and also that they are within what is allowable. For information purposes we have provided details below on the Superannuation…
There are a few changes and developments coming to Superannuation Guarantee which all employers and employees need to be aware of. Rate of Superannuation Guarantee increases to 10% Effective from 1 July 2021, the minimum rate of Superannuation Guarantee will increase from 9.5% to 10% of an employee’s ordinary time earnings. Superannuation Guarantee does not…
Contents For You & Your Family Your Superannuation Business & Employers Education, skills & training Government & regulators Other The economy Budget 2021-22: The Balancing Act Budget The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.…
Welcome to our April 2021 Client information Bulletin Contents The 1 July 2021 Superannuation changes ATO targets profits of professional service firms Tax treatment of JobKeeper payments handed back to ATO JobMaker fails to boost employment Unemployment rate at pre COVID-19 levels National licence recognition for tradies The 1 July 2021 Superannuation changes Changes from…
The government has halved the minimum pension drawdown requirements for the 2019-2020 and 2020-2021 financial years. The reduced pension drawdown requirements are aimed at helping preserve the capital in an individual’s pension account. This halving of the minimum pension annual drawdown requirement applies to individuals with account based pensions, allocated pensions or market linked pensions…
The Government has resurrected Superannuation Guarantee (SG) amnesty giving employers that have fallen behind with their SG obligations the ability to “self-correct.” This time, however, the incentive of the amnesty is strengthened by harsh penalties for those that fail to take action.
Read why the investment strategies of Self Managed Superannuation Funds (SMSFs) are under scrutiny with the ATO contacting 17,700 trustees about a lack of asset diversity.