Individual or corporate trustee for your SMSF?
When establishing a self managed superannuation fund (SMSF), one central decision to be made early on is if the trustee structure is to consist of individual trustees or a corporate trustee. Between these choices, you can have up to four individual trustees, or one company that acts as trustee (with that incorporated body having up to four directors).
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Employers get an amnesty for missed super payments
It has been a long time coming, but a planned government amnesty for employers who have missed paying the superannuation guarantee (SG) to their employees has now become law. The amnesty was passed on 6 March 2020, and lasts until 7 September 2020.
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e-bikes, FBT, and salary sacrificing
Entering into a remuneration package to secure a vehicle through a salary sacrifice arrangement is a popular option offered to employees. However the ATO has issued a ruling on another particular set of wheels that opens up both a tax and health incentive.
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JobKeeper Subsidy announced 30 March 2020
As of yesterday, the government announced the $1,500 JobKeeper subsidy to help keep staff employed. To be part of the subsidy, employers will need to ensure that their employees receive at least $1,500 per fortnight (before tax).
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Latest Government Announcements for Individuals and Sole Traders
Sole Traders – No Employees – Not Forgotten.
Can apply both business and individual support concessions.
Latest Government Announcements for Business - Update 23/03/2020
The latest package from the government increases the previous Pay As You Go Withholding assistance to small business.
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