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|

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The ATO has released draft guidance on family trust distributions, where they perceive a tax benefit arises under a ‘reimbursement arrangement’.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|

Have you hired an employee or a contractor?

Hiring an independent contractor may seem like a simpler method than hiring a full-time or part-time employee for a business. Or is it? This is because there is a general assumption that, if hiring an independent contractor, they will not be responsible for PAYG withholding, superannuation guarantee payments, payroll tax and workers' compensation obligations. [...]

2022-05-31T16:04:07+10:00May 4th, 2022|Business Update|

Federal Budget 2022-23 – Hall Chadwick

The Federal Treasurer, Mr Josh Frydenberg, handed down the 2022–23 Federal Budget at 7:30pm (AEDT) on 29 March 2022. In an economy emerging from the pandemic, the Treasurer has confirmed an unemployment rate of 4% and an expected budget deficit of $78 billion for 2022–23. As international uncertainties add pressure on the cost [...]

2022-03-30T17:11:40+11:00March 30th, 2022|Federal Budget|

TAX MATTERS November 2021

Welcome to Tax Matters November 2021. In this we cover the important considerations for businesses with their tax position as we move into 2022. We include: Destination Single Touch Payroll Phase 2. All Aboard Income or Gift? Undeclared Foreign Income The Second Payment Times Reporting The Right Way to Lodge an Objection [...]

2021-12-03T14:24:32+11:00November 26th, 2021|Business Services, Business Update|
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