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Assets test change – is your house the answer?

30 Oct

On 1 January 2017, the assets test used to determine entitlement to income support benefits, including the age pension, will change. The questions are, will this impact you? And would or should you do anything? Presently, a single homeowner can have assets of $783,500 and a couple can have $1,163,000, before they lose their pension […]

SuperStream Compliance deadline fast approaching

22 Oct

SuperStream – Compliance deadline fast approaching! The ATO is reminding medium and large employers that the timeframe for SuperStream compliance runs out on 31 October 2015. The ATO previously announced it would allow employers (with 20 or more employees) an additional four months to adopt SuperStream, following the 30 June 2015 deadline. With the extended […]

Interest Rate remains unchanged

07 Oct

The Board of the Reserve Bank have decided to leave the official interest rate unchanged for the month of October 2015. The official cash rate remains at the historical low of 2%. The next meeting to review interest rates is scheduled for November 3 2015.  

Fringe Benefits

31 Jul

Following on from our discussion on salary sacrificing, below is some detail on fringe benefits tax. What is a fringe benefit? A fringe benefit is a benefit provided by an employer (or an associate of the employer) to an employee (or and associate of the employee) in respect of the employee’s employment. A common scenario […]

Changes to activity statements (BAS & IAS)

17 Feb

The ATO have changed their policy relating to most BAS and IAS effective 1st July 2014. If you lodge your activity statement on paper you will continue to receive the paper activity statements until one of these are lodge electronically. Electronic lodgement can occur in several ways: through our tax agent portal; or through the […]