In this month's Your Knowledge Update we review when you can take your super, new minimum pay rates and the $10k limit on cash payments to business. Download this month's issue here - Your Knowledge Update - July 2018.
In this month's Your Knowledge Update we look at how the super guarantee amnesty for employers will work, outline changes coming your way from 1st July 2018 and kick around some EOFY tips. Download this month's issue here - Your Knowledge Update - June 2018.
Holiday Rental Property Deductions Holiday rental properties have again been mentioned in the press from the Australian Taxation Office that they will be the subject of their focus, with the most likely candidates are highly negatively geared rental properties with postcodes that fall in and around known holiday destinations. All taxpayers need to ensure that [...]
In this month's Your Knowledge Update we look at what the ATO's statistics reveal about Australians and review proposed CGT legislation that has potentially serious tax implications for expats and foreign residents who own residential property in Australia. Download this month's issue here - Your Knowledge Update - May 2018
Operations of Transfer Balance Cap From 1 July 2017, the amount of super balance you can transfer from your accumulation account into retirement phase is subject to a limit known as the Transfer Balance Cap. For the 2017-18 financial year, this limit is set at $1.6 million. Every year after, the cap will be indexed [...]
In this month's Your Knowledge Update we look at what you should know in relation to Single Touch Payroll, if you should use the new super measures when you buy/sell your home and which tax deductions are being closely scrutinised by the Taxation Office. Download this month's issue here - Your Knowledge Update - April 2018.
New Reporting Obligations for SMSF Self Managed Super Funds (SMSF) have new obligations to report certain events that affect their Transfer Balance Cap by lodging the Transfer Balance Account Report (TBAR). The reporting obligation commences on 1 July 2018. The TBAR is a separate form from the Self Managed Super Funds’ Annual Tax Return and [...]
A lot of our clients may be driving past or visiting us soon and noticed a big board out the front of the building. We just want to let you know that whilst the landlords are selling, our intention is to stay on Chapel St and hopefully sign a new lease - we love it [...]
Single Touch Payroll Starting from 1st July 2018, Single Touch Payroll (STP) will be mandatory for businesses that have 20 or more employees on 1st April 2018. Draft legislation proposes extending mandatory STP reporting to businesses with 19 or less employees from 1st July 2019, however these employers are able to voluntarily op-in beforehand. [...]
In this month's Your Knowledge Update we highlight the key FBT areas that the ATO will be focusing on, discuss the possible changes to GST on property developments and how the ATO identifies audit targets. Download this month's issue here - Your Knowledge Update - March 2018.