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STP and superannuation guarantee
By WSCAdmin | Created on December 3, 2019
As a result, it has notified 2,500 employers that they have paid their SG contributions late during 2019. Due-date reminders were also sent to a further 4,000 employers.
Australia embraces Black Friday and Cyber Monday
By WSCAdmin | Created on December 2, 2019
The Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year.
Can the tax office take money out of your account? Your right to know
By WSCAdmin | Created on November 25, 2019
The ATO is one of the most powerful institutions in Australia with very broad and encompassing powers. Over the last few years the approach has been to work with taxpayers to ensure that the tax they owe is paid.
Super guarantee opt-out for high income earners now law
By WSCAdmin | Created on November 25, 2019
From 1 January 2020, eligible individuals with multiple employers can apply to opt out of receiving super guarantee ('SG') from some of their employers, to help them avoid unintentionally going over the concessional contributions cap.
Vacant land deduction changes hit ‘Mum & Dad’ property developments
By WSCAdmin | Created on November 25, 2019
Previously, if you bought vacant land with the intent to build a rental property on it, you may have been able to claim tax deductions for expenses incurred in holding the land such as loan interest, council rates and other ongoing holding costs.
ATO recommends updating ABN details for disastrous reasons
By WSCAdmin | Created on November 25, 2019
The ATO has provided a novel, though important, reason for businesses to update their ABN details: to help businesses to manage the coming disaster season.
CGT and the family home expats and foreigners targeted again
By WSCAdmin | Created on November 25, 2019
The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents.
Calculating Super Guarantee the new rules
By WSCAdmin | Created on November 25, 2019
From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer.
Are you paying your staff correctly? Woolworths $200m plus remediation
By WSCAdmin | Created on November 25, 2019
Woolworths is the latest company to facing a fallout from the underpayment of staff. In what is believed to be the largest remediation of its kind, Woolworths have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (before tax).
Towards Zero Interest Rates
By WSCAdmin | Created on October 24, 2019
The ongoing trade war between the US and China has dominated financial market movements recently.
