ATO crackdown on SMSF returns that become overdue

It is a legal requirement for Self-Managed Superannuation Fund (SMSF) Trustees to ensure SMSF Financial Statements are Audited and Tax Returns lodged with the Australian Taxation Office by the respective due date every year. To encourage on-time lodgement and ultimately to protect retirement savings ATO has recently announced a crackdown on returns that become [...]

2019-10-24T15:44:25+11:00October 24th, 2019|

Line in the sand for small employers and STP

ATO’s Single Touch Payroll (STP) system of reporting tax and superannuation information at each payroll event is in place for employers with 20 plus staff – now it’s time for the smaller employers. Small employers with 19 or less employees – must report each payroll event through STP from 30 September 2019. A [...]

2019-09-05T15:55:28+11:00September 5th, 2019|

Hall Chadwick Corporate Advisor Winter edition

In this issue of Corporate Advisor, we explain 11 financial-reporting, regulatory, and corporate-governance topics of crucial importance to CFOs and directors. We’re focusing mainly on regulatory issues that affect the preparation of 30 June reports – ASIC targets and lessons from reviews. The end of June marked for the first time the application [...]

2019-07-23T11:46:58+11:00July 23rd, 2019|

Changes to Members’ Voluntary Liquidations

The Insolvency Law Reform Act 2016 has resulted in significant changes to the administration of insolvent companies but you may not be aware that it has also resulted in changes to the administration of solvent company liquidations (commonly referred to as MVLs). As an example, annual meetings and final meetings of members are [...]

2019-07-16T10:02:40+11:00July 16th, 2019|

Internationals looking to ASX to deliver on public listing strategy

For companies that have determined that public listing is their preferred strategy, the Australian Stock Exchange (ASX) provides a compelling opportunity, particularly international companies whose home listing criteria is too large or whose local market is less supportive of earlier stage companies. A caveat in respect to the following discussion. Public listing is [...]

2019-07-16T12:22:00+11:00July 10th, 2019|

End of Financial Year Planning 2019

With the end of financial year (EOFY) fast approaching, now is a good time to think about opportunities and risks that should be addressed before 30th June 2019. To help you with this, we have included some of the key issues that clients should be thinking about pre-year end. If you would like [...]

2019-06-13T10:48:17+11:00June 13th, 2019|

The Black Economy: Should your contractors actually be employees?

Contracting is not a new concept in the Australian workplace. Once this was about a skilled labour shortfall and limited to a few highly specialised roles or industries. Now it is more commonplace with demands for flexible work practices and increasing commercial pressures. However, when the relationship is tested in courts and tribunals, [...]

2019-05-23T11:39:50+11:00May 23rd, 2019|

The devil’s in the detail in processing payroll

Using contractors as an alternative labour hire arrangement is common in Australian business and with this comes a certain diligence for your payroll team. The ATO makes it quite clear that it is the business owner’s responsibility to ensure payroll payments are compliant. When a contractor issues an invoice with an ABN, it [...]

2019-05-23T11:42:09+11:00May 15th, 2019|

2019-20 Federal Budget Update

On 2 April 2019, the Treasurer, Mr Josh Frydenberg, presented the 2019-20 Federal Budget. The Budget reaffirmed the delivery of tax cuts to lower and middle income earners and promised significant spending on infrastructure, all with an expected Budget surplus in FY2020 of $7.1bn. Businesses with turnovers up to $50m will get assistance [...]

2019-04-18T14:28:54+11:00April 3rd, 2019|

Tax Time Monthly February

In this February 2019 issue of Tax Time Monthly, our tax team provides the latest updates on income tax and changes in state taxes including: The battle for your vote continues - announcements and notable pending legislation before the election Updates to Home Office Expenses record keeping requirements Treasury canvasses issues around Initial [...]

2019-02-26T11:53:12+11:00February 26th, 2019|