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SME Tax Changes 2020: Guide for Busy Business Owners

Business owners are time-poor, and tax updates are boring – so here’s very quick guide to make sure you’re up to date and compliant. We recommend you get in touch with your tax agent if you’d like more details, especially on how these changes will apply to you.  

Changes to Superannuation from 1 January 2020

Employers please note: Salary sacrificed super contributions can no longer be used to reduce your super guarantee obligations, regardless of the amount your employee elects to salary sacrifice!

Key Dates 2020

All the deadlines, public holidays and term dates you'll need in your diary for 2020! Some deadlines and event dates still to be confirmed - but certainly a solid start.

Opting Out of Super Obligations

Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer. 

How to measure workplace culture - and why you should!

The Workability Index is the first business tool of its kind in the world - creating measurable data for workplace culture to drive performance, nurture organisational culture, and give evidence to stakeholders. Stakeholders are increasingly demanding transparency from businesses. So the ability to evidence is going to be crucial to delivering that transparency going forward.

Super Guarantee Timing Trap - How to avoid penalties

Employers are being caught out because they don't realise superannuation payments only count once they have been received by the fund, which can take a few days to process. 

Five things that will make or break your business this Christmas

Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. This means that it is not ‘business as usual’ and for many, and it is the change that causes the problem.

Black Friday & Cyber Monday Rescuing Retail

Black Friday and Cyber Monday sales have well and truly arrived in Australia, and retailers are embracing the opportunity to stimulate what has been an economically lack-lustre year.

Christmas To-Do List for Business Owners

If you’re a business owner, we have a couple of essential items you will want to add to the top of your holiday season to-do list. Now is the time for you to be setting your business up for 2018!

Holiday Office Closure 2019-20

We'll be closing at midday on Monday 23 December 2019 and reopening on Monday 6 January 2020

New rules stopping employers from reducing their Super Guarantee

From 1 July 2020 employers won't be able to use their employee’s salary sacrifice contributions to reduce the amount paid for superannuation guarantee.

Are you paying your staff correctly? Woolworth's $200 Million cautionary tale

Woolworths is the latest company to face fallout for underpaying their staff. In what is believed to be the largest remediation of its kind, with remediation expected to be in the range of $200m to $300m before tax. 

"Mum & Dad" property developers: No more tax deductions for vacant land

Previously, if you bought vacant land with the intent to build a rental property on it, you may have been able to claim tax deductions for expenses. New laws, aimed predominantly at "Mum & Dads", prevent these deductions from being claimed.

Can the ATO just take money out of my bank account?

You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. Do  you really know what powers the ATO have?

Monthly Snapshot | 25 October 2019

'Tis (almost) the season! Dates and details for our final events for 2019, including our Christmas Party and Social Impact Business Lunch. Plus, important news if you're putting on your own staff Christmas Party this year. 


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