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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. 

New Labour Hire Licensing Laws

New legislation for labour hire providers in Victoria will take effect on 30th October 2019. There are big penalties involved so make sure you're up to date on your obligations! are significant penalties for non-compliance by both the provider of labour and the host client.

An Employers Ultimate Guide to Workers' Compensation

The ultimate cheat sheet to help you navigate through the complex and tedious but necessary world of worker's compensation! 

Planning a Staff Christmas Party? How to avoid The Christmas Party Tax!

The Christmas Party Tax is a real Grinch, but ignoring it could land you owing even more money! This is a quick guide on how to factor in (or what to avoid) when it comes to FBT on your staff Christmas Party this festive season. 

The Real Impact of Low Interest Rates

Wealth economist Emmanuel Calligeris explores the impact of interest rates dropping towards zero.

Manufacturing Grant, SMSF Scrutiny and Rental Property Expenses | Monthly Snapshot

What you need to know in October 2019! Find out about our upcoming events, and funding opportunities and focus areas for the ATO. 

The ATO is tracking your foreign income

Don't assume that just because your foreign income has already been taxed overseas or qualifies for an exemption overseas that it is not also taxable in Australia! Make sure you're reporting any overseas income correctly! 

Rental property expenses - what you can and can’t claim

It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties. What often seems to make perfect sense in the real world does not always make sense for the ATO.

Tax return for low income earners - when do you need to lodge one?

There are a lot of common misconceptions about low income and tax returns. There are many reasons why someone under the tax-free threshold may need to lodge a tax return. Make sure you talk with a registered tax agent to make sure you're meeting all your tax obligations. 

Are all your SMSF eggs in one basket?

Investment strategies of SMSFs are under scrutiny from the ATO, who are concerned that “a lack of diversification can expose the SMSF and its members to unnecessary risk if a significant investment fails". 

Cash Payment Restrictions, Free Loan Advice & Weird Tax Deductions | Monthly Snapshot

Your monthly snapshot ahead of Spring 2019. Find out about our upcoming events, and new legislation that could impact you and your business! 

Save your cash flow by reducing debtor days

Barely half of Australian small businesses were cash flow positive in June 2019. Here's one area you can focus on to help stay out of the red. 

Weirdest Tax Deductions for 2018-19

Taking a look at the ATO's list of most unusual claims - including a years worth of children's Lego!

Personal income tax changes: You're NOT automatically entitled to $1,080

The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return.

What expenses can you claim if you work from home?

A lot of people do some sort of work from home. It might be simply answering emails on the couch or working from home a few days a week. So, what can you claim if you’re putting in extra hours?

Why the Government is banning business cash payments of $10,000 or more

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000.


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