The Superannuation Clearing House is a free service offered by the ATO to help small businesses in meeting their superannuation obligations. It is available to businesses with fewer than twenty employees. From July 1 2014, all businesses with more than nineteen employees have been required to use a suitable superannuation... read more →
Jun
30
Jun
26
For many employers, it can be easy to forget the responsibility of managing your super obligations amidst the busy lifestyle of managing a business or company. However, those who fail to meet these obligations are guaranteed to face some serious and even damaging liabilities. Recently, the Australian Taxation Office (ATO)... read more →
Jun
24
Your most important asset is your capacity to work and generate an income. If you are unable to work due to sickness or injury, how would you continue to meet your financial obligations and continue your present lifestyle? Being unable to work due to sickness or injury is a very... read more →
Jun
19
It is essential for all small businesses to have an effective record keeping system in place. Having your records in good working order will significantly reduce the stress that comes with the end of financial year, and will ensure that you make the most out of all of your potential... read more →
Jun
18
The structure of the workforce is transforming, and many business owners are struggling to make sense of the rapid changes. The problem is that regulation, especially from the tax office, will always be a few steps behind changes that are happening in the real world. Sadly, this often means that... read more →
Jun
12
Over the past year hundreds of businesses have been brutally affected by wild natural disasters spanning the breadth of Australia. Whether from the cyclonic storms hitting NSW or the past bush fires across the country. The lucky ones were back in business a small time later – but for many,... read more →
Jun
09
The Budget has announced it will cut the corporate tax rate by 1.5 per cent for small businesses with an annual turnover less than $2 million. For small business, this will also incur additional R&D benefit, where the permanent tax benefit will increase from 15 to 16.5 per cent. Small... read more →
Jun
07
There will be no changes to the super contributions caps for the 2015/16 year. Limits will remain the same as last year: Concessional (before tax) contribution cap (age as at 30 June 2015) per person Non-concessional (after tax) contribution cap per person $30,000 per annum (up to age 49) $35,000 per... read more →
Jun
02
Whilst there were no significant taxation proposals in this year’s Budget, the Government has made some relatively conservative changes to FBT exemption and employee share schemes. FBT exemption for electronic devices To help reduce red tape, the Government will expand the Fringe Benefits Tax (FBT) exemption for work-related portable devices... read more →
May
29
June 30 is fast approaching but there’s still time to consider strategies to help you build your wealth and reduce the amount of tax you pay. Pay interest in advance Borrowing to invest may be a tax-effective means of wealth accumulation. This type of strategy lets you purchase property, shares,... read more →