Another key Federal Court case may have a bearing on whether you owe certain workers you engage superannuation guarantee or not. For background, early last year the High Court made a game-changing decision in determining whether a worker is an…
The increase to the superannuation guarantee (SG) rate from 1 July 2023 will see more employees (and certain contractors) entitled to additional SG contributions on their pay. But what happens when income earned before 30 June is paid after 30…
Since Budget night, the ATO has released more information around the small business lodgement amnesty…which can now be taken advantage of from 1 June 2023! The amnesty was announced in the recent Budget. It applies to tax obligations that were…
The ATO has just announced that the cents per kilometre rate has increased to 85 cents per kilometre for 2023 To recap, there are two methods to claim work-related car expenses as follows: Cents Per Kilometre Method This method is…
The new financial year can be a time where business owners look at their operating structure and consider whether it still meets their needs. Choosing a structure is not simply about minimising tax, rather a range of factors should be…
The recently announced Small Business Energy Incentive is now open for business! The Energy Incentive will help up to 3.8 million small and medium sized businesses save energy andsave on their energy bills. The incentive is delivered by way of…
Although not related to tax, there are a number of changes on the Fair Work front that employers should be aware of: Minimum Wage Increase The National Minimum Wage applies to employees who aren’t covered by an award or registered…
Click here for a PDF version of this article. ATO Tax Time Focus Areas With the end of the financial year on our doorstep, the ATO has announced its three key focus areas for 2022-23 Tax Time – rental property…
With the total superannuation sector worth more than $3.5 trillion at the end of March 2023, superannuation is serious business. There are many types of superannuation funds available but sometimes having too many to choose from can be confusing. However,…
Are you a self-funded retiree who does not qualify for the Age Pension? If you’ve answered yes, then help may be available for certain living expenses by way of the Commonwealth Seniors Health Card (CSHC). What is the CSHC? The…