Are you ready for July 1 changes to Super?

The amount employers pay and employees may additionally contribute to superannuation balances changes on July 1, 2022. Now is a good time to talk with your team, check their agreements and prepare your payroll systems. Recap Generally, superannuation contributions must be paid for: an employee aged 18 or over who earns $450 or more [...]

2022-05-31T15:57:03+10:00May 12th, 2022|Payroll|

A global regulatory framework for virtual currencies and exchanges

The G20 asked the OECD to develop the Crypto-Asset Reporting Framework (CARF) for the automatic exchange of information on crypto-assets with the intention to preserve international tax transparency initiatives. A public consultation process is underway, with policy-makers asked to consider the possible adoption of the new framework and its related design components. Key Points [...]

2022-05-19T15:57:02+10:00May 12th, 2022|Crypto Advisory, Tax Planning|

SMSF MATTERS: An equal investment of money and effort

One of the benefits of establishing or opting for a SMSF is the control given over where the money is invested. It also comes with specific administrative responsibilities to keep you and your fund compliant and protected. A SMSF undoubtedly requires an ‘attention to detail’ approach. It is important to create and follow an [...]

2022-05-31T15:59:32+10:00May 5th, 2022|SMSF|

TAX MATTERS: A re-address of family trust distributions

The ATO has released draft guidance on family trust distributions, where they perceive a tax benefit arises under a ‘reimbursement arrangement’. Essentially, the documentation sets out ATO’s ‘preliminary but considered’ views where they perceive a tax benefit arises under a ‘reimbursement arrangement’. If the guidance becomes the new approach, it will greatly impact how [...]

2022-05-31T16:03:07+10:00May 5th, 2022|Tax Insights|
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