Single Touch Payroll update

Single Touch Payroll update

Phase 2 coming soon The ATO is expanding the information that businesses send through Single Touch Payroll (STP). From 1 January 2022, most employers will be required to send additional information such as the commencement date of employment and cessation date of...
Can I be released from my tax debts?

Can I be released from my tax debts?

As the economy adjusts to the removal of most COVID-19-related government support measures, coupled with the slow national vaccination rollout and mostly closed international borders, there is no doubt that many Australians are facing financial difficulties in the...
ATO data-matching targets rental property owners

ATO data-matching targets rental property owners

The ATO has announced it will run a new data-matching program to collect property management data and will extend the existing rental bond data-matching program.  The ATO has announced it will run a new data-matching program to collect property management data for...
Are you ready for Tax Time 2021?

Are you ready for Tax Time 2021?

Tax time 2021 is almost here, but it’s likely to be anything but routine. Many people on reduced incomes or who have increased deductions may be eager to lodge their income tax returns early to get their hands on a refund. However, as always the ATO is warning against...
Your Future, Your Super legislative changes

Your Future, Your Super legislative changes

The Treasury Laws Amendment (Your Future, Your Super) Bill 2021 has been introduced to Parliament to implement some of the “Your Future, Your Super” measures announced in the 2020–2021 Federal Budget. Treasurer Josh Frydenberg has said the measures are intended to...
Super transfer balance cap increase from 1 July 2021

Super transfer balance cap increase from 1 July 2021

If you’re nearing retirement and have a large amount in your transfer balance account, it may be wise to delay until 1 July 2021 to take advantage of the upcoming pension transfer cap increase from $1.6 million to $1.7 million due to indexation. At the time you first...