Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer. Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens…
Company Directors can be held personally liable for a company’s unpaid employee superannuation. The unpaid superannuation is (after three months) payable to the ATO as a Superannuation Guarantee Charge (SGC)…
The tax outcomes for client gifts, employee gifts and Christmas parties are so complicated and confusing. We’ve simplified things for you below. Client gifts At this time of the year…
December is usually the busiest time of the year for retail and hospitality businesses. But businesses in other sectors often find that their sales slowdown and their customers stop paying…
Yes. Dr Phillip Lowe did as he promised last week in Armidale. Our third rate cut this year. Here is what the official statement said. "At its meeting today, the…
The ATO’s recently released interpretation of the tax treatment of capital gains distributed by an Australian discretionary trust to non-resident beneficiaries will have a significant negative impact for some. Two…
The Reserve Bank of Australia is widely tipped to reduce interest rates again to historic lows. Easton Wealth economist Emmanuel Calligeris explores the impact. Australia and world volatility The ongoing…
Josh (Frydenberg, Treasurer) is about to return a budget surplus...This year. Phil (Lowe, Governor of the Reserve Bank) is about to cut rates again...on Tuesday, my 54th birthday. At a…
Last month, the ATO released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated ‘tax gap’. These new figures give visibility to tax compliance issues…
The investment strategies of Self Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about a lack of asset diversity. The ATO is…