Super guarantee rises to 10.5%
The increase to the superannuation guarantee (SG) rate from 1 July 2022 will see more employees (and certain contractors) entitled to additional SG contributions on their pay. But what happens when income earned before 30 June is paid after 30 June 2022 – will employees be entitled to the higher SG rate of 10.5%?
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Last minute trust distributions and record keeping
In late June, the ATO released their ‘100A guidelines’ provided in respect of the 2021/22 income year (‘Managing section 100A for the 2021–22 income year’).
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ATO Prioritising Debt Collection
As the economy emerges from COVID-19, the ATO is re-focusing on debt collection.
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Downsizer contributions to SUPER
Did you know you could invest the proceeds of the sale of your family home to your superannuation, depending on your age and circumstances?
Four priorities for the ATO this Tax Time
In the middle of May, the ATO announced that there will be four focus areas on their radar during Tax Time 2022 – record-keeping, work-related expenses, rental property income and deductions, and capital gains from crypto assets.
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2022 Election Washup
Following the election of the new Labor federal Government on 21 May, there are a number of tax and superannuation proposals that they have announced or existing measures they have committed to that may impact you and your business moving forward.
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