ASIC has recently released a report which examined the progress by some super trustees to improve their arrangements for life insurance in super. The review was in response to issues […]
The ATO has reminded eligible small business taxpayers to take advantage of the lodgment penalty amnesty program announced in the recent 2023-24 Federal Budget. It applies to tax obligations covering […]
You will need to lodge a TPAR if your business made payments in the last financial year (ie the one ending 30 June 2023) to contractors providing the following services: […]
ASIC has released details of its enforcement priorities for 2023 which signals where it will be directing its resources and expertise for the year. This is in addition to its […]
What is a director penalty? A company director becomes personally liable for the company’s unpaid amounts of: pay as you go withholding (PAYGW); goods and services tax (GST); and super […]
Despite the calls to scrap the already legislated stage 3 tax cuts, the government did not announce any changes in the recent Budget, which means the tax cuts are still […]
Superannuation, while being one of the integral components of Australia’s retirement system, along with the aged pension and savings, has never had a clear legislated objective to guide policy makers. […]
With the end of financial year fast approaching, the ATO has again released the areas it will be focusing on in tax time 2023. As with previous years, it will […]
In an attempt to repair the Federal Budget and lower the overall national debt, the government announced changes to the way super in accumulation phase are taxed over the threshold […]
Single Touch Payroll (STP) was introduced as a way for employers to send super and tax information directly to the ATO through the use of STP-enabled software solutions. STP Phase […]
