AUGUST 2022
With interest rates rapidly increasing, homeowners are being encouraged to look around for a better deal on their home loan. ASIC has recently released some tips if you are doing so. These include asking your existing lender for a better deal, negotiating the length of your new loan, factoring in the cost of possible lender mortgage insurance, comparing a range of accompanying fees and charges, and more.
Rental property claims are being heavily scrutinised by the ATO this Tax Time. The ATO is urging rental property owners to ensure they carefully review their records before declaring income or claiming deductions.
Meanwhile, recent data from the government’s MoneySmart website and the Association of Superannuation Funds of Australia helps individuals answer the perennial questions: how much superannuation will you need to retire? And how much are you likely to spend in retirement?
MAY 2022
It’s recommended that employers have in place a human resources (HR) manual.
HR manuals document the workplace policies and procedures that will be applied to all employees inside and to a lesser extent outside the workplace.
JUNE 2022
Year-end tax planning – both from a tax and superannuation perspective. This article details various strategies individuals and businesses can employ to optimize their year-end tax position as we head towards 30 June.
An ATO warning on the latest tax scam doing the rounds. The ATO has just recently reported an increase in fake websites offering to provide tax file numbers (TFNs) and Australian Business Numbers.
What the new government has foreshadowed on the tax and super front. This includes support for significant income tax cuts for individuals, a crackdown on multinational tax avoidance, lowering the age eligibility for the super downsizer scheme, and a home buyer subsidy - making it easier to buy your first home.
The four items under the ATO’s microscope as we head into Tax Time 2022. Record-keeping, work-related expenses, rental income and deductions, and capital gains from crypto are all on the ATO radar.
How downsizer super contributions can help older individuals provide for their retirement. Contribute extra money to your superannuation after you sell the family home. Did you know you could invest the proceeds of the sale of your family home to your superannuation, depending on your age and circumstances?
FEDERAL BUDGET 2022
In this special edition of our Newsletter we summarise some of the main measures that may impact businesses and individuals.
APRIL 2022
If you are a ride-sharing driver (such as with Uber) or if you are a rider, there is a raft of tax issues to be aware of from both standpoints. From GST, income tax, deductions, and PAYG withholding…we’ve got it all covered.
FEBRUARY 2022
The STP regime is a government initiative that is designed to reduce an employer’s burden when reporting to Government agencies such as the ATO. STP phase 2 is now here, and employers must start reporting by 1 March 2022.
By consolidating your superannuation, you can potentially save tens of thousands of dollars in fees and charges, thereby boosting your retirement savings. Read about how to do so, and the other benefits of consolidation.
MARCH 2022
If you’re a small business owner, you’ll know that you’re required to pay your employees (and certain contractors) superannuation guarantee (SG) in addition to their salary or wages. But how do you pay your SG contributions in a simple and effective way? The answer is through a superannuation clearing house (SCH).