What happens if an SMSF member loses capacity ?
It is possible that a member of an SMF loses capacity e.g. due to stroke or old age. The trustee/member rules for SMSF require that a member of...
01/01/2023
Read OnGovernment subsidy for JobKeeper Payment
For employers – the Government has announced a wage subsidy of $1,500 (before tax) per eligible employee from 30 March 2020, for a maximum of 6 months. The...
01/01/2023
Read OnAML/CTF Regulatory Changes – What This Means For You
Important Changes to Anti-Money Laundering and Counter-Terrorism Financing Requirements We are writing to let you know about some upcoming legislative changes that will affect how we work with...
01/01/2023
Read OnAre you employing yourself or someone in your business?
From 1 July 2019, all employers must be registered for Single Touch Payroll (STP). What is STP? STP is a new regulation that requires employers to send employee...
01/01/2023
Read OnASIC Director ID requirement from November 2021
From November 2021, directors will need to verify their identity as part of a new director ID requirement. The Australian Business Registry Services (ABRS) is responsible for the...
01/01/2023
Read OnATO announces extension for wages payments for JobKeeper scheme
The ATO has just announced that it has extended the time in which employers need to pay employees for JobKeeper fortnights 1 and 2 until 8 May 2020....
01/01/2023
Read OnAustralian Federal Budget 2027 Highlights
Federal Budget 2027 Highlights 1. Replacing the 50% CGT discount with indexation From 1 July 2027, the 50% CGT discount will be replaced by cost base indexation for assets held...
01/01/2023
Read OnClaiming for clothing and laundry expenses
To claim a deduction you must be able to provide evidence that you purchased the clothing. If you receive an allowance from your employer for clothing, uniforms, laundry...
01/01/2023
Read OnCORONAVIRUS SME GUARANTEE SCHEME
As advised, we are keeping abreast of the Federal Government’s SME Guarantee Scheme for small and medium businesses (SME) to support rent, utilities and employee expenses. The Government...
01/01/2023
Read OnDeduction claim for bundled phone and internet plans
If you have a bundled plan, you need to identify work use for each service over a four-week representative period during the income year. This will allow you...
01/01/2023
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