Important Tax Changes: 1 July 2021
Super guarantee rate increase to 10% On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% - the first rise since 2014. It will then steadily increase each year until…
Working from home expenses under ATO scrutiny
If you worked from home during lockdown and spent money on work-related items that were not reimbursed by your business, you might be able to claim some of these expenses as a deduction – but…
Tax exemption for ‘granny flat’ arrangements
To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement. Typically, granny flat arrangements occur when an older person transfers some…
SMSF: When expenses and investments are not at arm’s length
We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its…
The top 8 reasons why staff leave
Australia is facing a shortage of skilled labour. When the supply of staff dries up the focus often turns to retention. But the first step is to understand why people you want to stay, choose…
Lifetime Director IDs: What you need to know
Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers. ASIC does not currently verify…
Victorian State Budget 2021-22
Last week Victorian Treasurer Tim Pallas handed down the State Budget that focuses on the economic recovery from COVID-19 and significantly, mental health. The Budget will also introduce and increase taxes which will impact developers,…
The Balancing Act: Federal Budget 2021-22
On Tuesday night Federal Treasurer Josh Frydenberg handed down the Budget 2021-22, which aims to build on the economic recovery of late 2020. We have highlighted the key initiatives below and prepared a Federal Budget 2021-22…
Investment Outlook: Autumn
In this issue, Morgans see the path out of the COVID-19 shock as a “restart” – not a typical business cycle “recovery”. The key reasons are the distinct nature of the shock, broad-based pent-up demand…
Rebranding of Audit Business
We would like to inform you of some important upcoming changes at PPT. Due to recent changes to Auditor Independence requirements, particularly in relation to self-managed superannuation fund audits, PPT Professional and PPT Audit, led…
