Budget 2019-20: Compliance
$1bn ATO ‘sugar hit’ to tackle large corporates and high net wealth individuals Date of effect From 2019-20 The Government will provide $1bn over four years from 2019-20, including $6.5 million in capital funding, to…
Budget 2019-20: Business
Instant asset write-off increased to $30k and expanded to businesses under $50m Date of effect 7:30pm (AEDT) on 2 April 2019 to 30 June 2020 The threshold for the popular $20,000 instant asset write-off will…
Budget 2019-20: Superannuation
Superannuation ‘work test’ watered down & age limit for spouse contributions increased Date of effect 1 July 2020 As previously announced, from 1 July 2020, Australians aged 65 and 66 will be able to make…
Budget 2019-20: Individuals
Personal income tax cuts As anticipated, the Budget celebrated the surplus with a $19.5bn package of personal income tax cuts for Australian residents. This package revises the legislated seven year income tax plan. The personal…
2019-20 Federal Budget Overview
This is a Budget not only designed to showcase the return to surplus (and by default the Government’s economic credentials) but engage voters with initiatives to make them feel like they are more prosperous. A…
Team Q&A: Glenn Palmer
Recently we caught up with Director Glenn Palmer. Born and bred in the region, Glenn joined the firm as a trainee back in 1986, before becoming a Director in 2009. Glenn talks about the current…
Legislation in Limbo
The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation. Next month, on 2 April, Parliament reconvenes for the Federal Budget…
Single Touch Payroll Final Deadline
From 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report…
Are you still using paper-based staff rosters?
Paper-based rosters might do the job for your business, but with technology streamlining many workflows, now might be the time to digitise your rostering and timesheet system. There is a range of great software applications…
Tax warning on overseas income
Do you earn income overseas? A recent case highlights why you might pay more tax than you thought on foreign income. If you are an Australian resident and earn income from overseas, such as income…
