LATEST NEWS
$66.1 Billion Additional Stimulus Package: What You Need To Know
$66.1 billion Stimulus Package: What You Need To Know The Government yesterday released a second, far reaching $66.1 billion stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up...
FBT Hot Spots
FTB Hot Spot With the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position.FBT liabilities can trap unwary businesses, some of whom don’t recognise that there can be a tax consequence...
Super guarantee Amnesty: Now is the time to get payroll right
Super guarantee Amnesty: Now is the time to get payroll rightThe superannuation guarantee (SG) amnesty provides employers with a one-off opportunity to “self-correct.” Now is the time to ensure that your payroll is correct and there are no hidden SG issues looming....
Surviving a Crisis: Coronavirus and Beyond
Surviving a Crisis: Coronavirus and BeyondEmpty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian business.Within a few months, the virus, now called COVID-19, has gone from being a largely unknown...
Summary: Australian Government Economic Response to the Coronavirus
Australian Government Economic Response to the Coronavirus On 12 March 2020, the government announced a package of measures totalling $17.6 billion to help the economy withstand and recover from the economic impact of coronavirus. Here is a summary of each benefit and...
CGT and The Family Home: Expats and Foreigners Targeted Again
CGT and the family home: expats and foreigners targeted (UPDATE)The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents.Back in the 2017-18 Federal Budget, the...
ATO targets ‘lifestyle’ assets
ATO targets ‘lifestyle’ assetsThe ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts. The review, expected to impact 350,000 taxpayers, reaches from the 2015-16 to 2019-20...
Alerts to protect SMSFs from fraud
Alerts to protect SMSFs from fraudA new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the authorised...
Bushfire support and assistance
Bushfire support and assistanceTen million hectares, lives lost, wildlife on the brink, billions in lost revenue and clean-up costs. For many, returning life to normal is a long way off this summer. We summarise the help available to those impacted by the...