Ensuring that employee superannuation is correctly dealt with can be extremely confusing for many small businesses. One important new change to be aware of is that which has recently been put in place by the ATO. The ATO has made an adjustment with the 'choice of fund' rules which means you might need to do something extra when a new employee starts to work for you.
Read MoreThe budget handed down by the Federal Government on 11th May 2021 continued the focus that has existed for the last 12 months: Rebuild and Recovery. As we continue to navigate COVID, the Federal Government has focused their 2021 budget on relief measures to assist families and businesses while starting to rebuild their reserves. Following is a summary of the key areas that will impact both individuals and business as we move into the 2022 financial year and beyond.
Read MoreThe aim of the loss carry-back legislation is to provide temporary cashflow support to Australian companies that were in a tax-paying position prior to the COVID-19 pandemic, but who now find themselves in a tax-loss position as a result of the pandemic and/or through obtaining accelerated deductions for depreciation under the new instant asset write-off measures.
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