• insurance policy
    Am I Taxed on An Insurance Payout?
    Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and […]
  • changes-ahead
    What Changes on 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 it reaches 12% on 1 July 2025. The 0.5% increase does not mean that everyone […]
  • Superannuation
    Super Guarantee Rate Rising 1 July
    On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. If you have employees, you will need to ensure your payroll and accounting systems are updated to incorporate the increase to the super rate. If you need help to work out how much super you need to […]
  • skilled migration
    Is It Time for Australia to Rethink Skilled Migration?
    Source: NestEgg When borders reopen, Australia has a chance to reshape its migrant policy, with an opportunity to target younger, more skilled workers, a think tank has revealed. Australia is not attracting the right migrants, instead it should focus on simplifying the process, taking in younger skilled workers, and paying them […]
  • Fringe Benefit Tax
    FBT Exemption, LMITO Tax Bill Introduced Into Parliament
    Source: Accountants Daily Treasury Laws Amendment (2021 Measures No. 4) Bill 2021 was introduced to the House of Representatives on Wednesday and contains two tax measures included in the Morrison government’s 2021–22 federal budget.  The first of them is the government’s FBT exemption, which will provide employers with a way […]
  • cryptocurrency
    ATO Sheds Light on Crypto Compliance Focus
    Source: Accoutants Daily Speaking at a tax-time tips seminar on Thursday, ATO assistant commissioner Adam O’Grady warned tax agents and taxpayers that his office will be closely watching all capital events related to cryptocurrency come tax time.  “It is really important for all capital assets; we will be looking to […]
12 May 2021

Federal Budget 2021-22

1 February 2021
jobkeeper

The Final Stage Of JobKeeper And How To Access It

For those severely impacted by COVID-19, JobKeeper might be available. The third and final phase of JobKeeper started on 4 January and runs through until 28 March 2021. To receive JobKeeper, employers need to have experienced a sufficient downturn (a 30% threshold applies to most entities) in their actual GST […]
26 January 2021
Payday Loan

Alternatives to Payday Loans

Source: NestEgg The payday lending industry is booming in Australia, and it’s driving thousands of Aussies into a debt trap. And it’s just not here. An increasing number of people around the world are relying on these unsecured loans as a quick fix when they need extra cash, despite regulators’ […]
26 January 2021
superannuation

How Did Your Super Fund Perform in 2020?

Source: NestEgg Results collated by Chant West have shown median growth funds — which have 61 to 80 per cent in growth assets — ended the year up 3.7 per cent. While short of the 14.7 per cent members gained in 2019, Chant West applauded the funds’ ninth consecutive positive calendar year […]
26 January 2021
Money Savings, Investment, Making Money For Future, Financial We

Should the Government Add $5k to Low-Income Super Balances?

Source: NestEgg The Australian Institute of Superannuation Trustees’ (AIST) pre-federal budget submission recommended a one-off government contribution to the super accounts of Aussies earning less than $39,837 who accessed their superannuation early. The AIST, which is made up of about 60 superannuation funds, points to the 3.6 million Australians who […]
4 January 2021
corporate tax

A Corporate Tax Rate Cut is Just One Part of the Puzzle

Source: Accountants Daily The public not only have the opinion that large corporates have significant cash and therefore should not benefit from reduced corporate tax rates, but they also fear large corporates manipulate our systems to extract profits free of Australian tax. Ironically, it can be Australia’s high corporate tax […]
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