Update For Super Guarantee ATO’s new super guarantee requirements From 1 January 2020, if you make super contributions for your employees under an effective salary sacrifice arrangement: You must calculate your super guarantee obligation based on your employee’s ordinary time earnings base You cannot count salary sacrifice contributions towards the minimum amount of super guarantee …
E-invoicing helps reduce payment times and improve cash flow The headline above may give the impression that electronic invoices are a futuristic concept, but of course even today there is a version of e-invoices — think PDFs and other electronic documents that can contain the information a standard tax invoice is required to display. What …
Tax claim misconceptions Tax claim misconceptions Myths about tax deductions come from varied sources – pub-talk, BBQ-banter, hairdresser-homilies, what-your-taxi-driver-just-heard and many others. In this article, we sort out fact from fiction for you. This year’s tax time saw media reports about various outlandish tax claims — for example, the ATO being faced with claims for …
Director penalty notices for GST will take effect on October 2019 The strengthening of the director penalty regime has been reported here before — for instance, having director penalty notices (DPNs) extended to superannuation guarantee obligations from 1 March 2019. Now it looks like DPNs for GST are set to take effect from 1 October …
The new test allows businesses to access the prior year losses In the first quarter of this calendar year, legislation was passed that will supplement the ATO’s current “same business test” for losses with a more flexible “similar business test”. The new test will expand access to past year losses when companies enter into new …
Similar Business Test Allows Businesses To Access Past Year Losses Read More »