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Alert: What you need to tell the ATO about your SMSF

By WSC Group | Created on November 16, 2017

The 1 July 2017 superannuation reforms introduced a new reporting regime for funds. Funds now need to advise the ATO of key events within the fund that impact on retirement income streams (pensions):

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ATO: Combatting the cash economy

By WSC Group | Created on November 16, 2017

The ATO has reminded taxpayers that it uses a range of tools to identify and take action against people and businesses that may not be correctly meeting their obligations. Through 'data matching', it can identify businesses that do not have electronic payment facilities.

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ATO to be provided with more super guarantee information

By WSC Group | Created on November 16, 2017

The Government has announced a package of reforms to give the ATO near real-time visibility over superannuation guarantee (SG) compliance by employers.

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New laws hold franchisors responsible for vulnerable workers

By WSC Group | Created on October 24, 2017

Franchisors and holding companies could be held responsible if their franchisees or subsidiaries don’t follow workplace laws.

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ALP announces massive (potential) changes to trust taxation

By WSC Group | Created on September 25, 2017

*Editor: Although we don't normally report on Opposition tax policies, this policy change is so fundamental, and the existing state of the Federal Parliament is so chaotic, that we believe it's worth bringing this to your attention.*

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Ability to lodge nil activity statements in advance

By WSC Group | Created on September 25, 2017

The ATO generally issues activity statements by the end of the relevant month under their normal processes, allowing the statement to be lodged by 21 days after the end of the month, or 28 days after the end of the relevant quarter (as appropriate).

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Super Guarantee – What Happens When You Get It Wrong

By WSC Group | Created on September 25, 2017

The ATO receives around 20,000 reports each year from people who believe their employer has either not paid or underpaid compulsory superannuation guarantee (SG). In 2015-16 the ATO investigated 21,000 cases raising $670 million in SG and penalties.

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Single Touch Payroll update

By WSC Group | Created on September 25, 2017

A limited release of 'Single Touch Payroll' began for a small number of digital service providers and their clients on 1 July 2017, with Single Touch Payroll operating with limited functionality for a select number of employers.

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Should Business Push A Social Agenda?

By WSC Group | Created on September 25, 2017

For years we’ve been told that consumers prefer businesses that take a stand on social issues – those that are environmentally and socially friendly. But is that always the case?

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ASIC Targets Growing Companies In Audit Crackdown

By WSC Group | Created on September 25, 2017

ASIC is in the midst of a concerted campaign targeting private companies that have outgrown the reporting exemptions.

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