Payday Super is Coming: Steps your business needs to take 31 October 2024 Background In the 2023-24 Federal Budget, the Treasurer announced the launch of Payday Super, aimed at tackling unpaid superannuation and ensuring timely contributions. This initiative will take effect from 1 July 2026. Bear in mind the Superannuation Guarantee (SG) rate increases to [...]
Tax Rates & Tables 2024-25 We’ve created a quick reference guide for you containing the 2024-25 tax rates. Covering both individual and company tax rates, tax offsets, superannuation, depreciation and fringe benefits tax. This easy to print desktop guide is available to download and print. We’re ready to help. If have any questions about [...]
In this issue of Corporate Advisor, we explain 14, financial-reporting, corporate-governance regulatory topics of crucial importance to CFOs and directors. 30 June reporting season is here, and there is much for all to absorb and act upon. ASIC’s focus areas are like prior years – impairment and asset values, provisions, events occurring after year-end and before [...]
Written by: Hall Chadwick Queensland Superannuation Guarantee (SG) As part of the Australian government’s long-term plan to ensure adequate retirement savings for employees, the SG rate has continued to rise. The most notable recent change occurred on 1 July 2024, when the SG rate increased from 11% to 11.5%. This increase is part of [...]
As we approach the end of the 2024 financial year, tax planning has never been more important. Now is a good time to think about opportunities and risks that should be addressed before 30 June 2024. To help you with this, our guide summaries some key tax planning tips which should be considered before [...]
Mark Bailey recently had the privilege of participating in a Blockchain Australia event to provide a policy submission and discuss key industry issues. Thank you to Dai Le MP, Paul Fletcher, Senator Andrew Bragg, and Jenny Ware MP for investing their time to listen. We are all united in one meaningful action. Our goal [...]
Improvements in KYC standards and compliance are increasing the odds for professionals and law enforcement in tracking down bad actors and recovering stolen funds. As the digital economy continues to advance, the concept of 'anonymity' surrounding cryptocurrency transactions continues to be misunderstood. Various methodologies, tools, and data sources can be used to trace the [...]
After 11 months of eagerly waiting, our client, Mr. Bendel, has won in Bendel v Commissioner of Taxation. The AAT has ruled that an unpaid present entitlement (“UPE”) of a corporate beneficiary against a trust is not a loan within the meaning of s109D(3) of ITAA 36. Thus, the Commissioner’s heterodox view [...]
"We have published an article titled 'Structural Choices for Expanding into the US: An Issue-Driven Analysis' in The Tax Specialist. The article explores the US, Australian, and treaty issues that arise from concurrent business operations in both countries. It is awe-inspiring to sail down the confluence of the wild rivers of US [...]
An essential read for those tasked to undertake due diligence on entering or investing in the Australian market In the everchanging global economy, Australia provides immense opportunities for international business. The combination of a highly qualified work force, extensive infrastructure, natural resources and a familiar legal system to most parts of the world is [...]