Single touch payroll delayed for more consultation

When the Single Touch Payroll initiative was first floated at the end of 2014, it was touted as a tool that would eliminate several red-tape producing processes and do away with the need for many reporting demands presently dumped on small business owners. It is called “single touch” because the interactive online tool is intended

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3 money-smart ways to beat bracket creep

It’s little wonder the phrase ‘bracket creep’ summons up images of spiders and other nightmarish creepy-crawlies. While it’s not a bad thing to earn more money, get a raise, or have your salary adjusted with inflation, unwittingly jumping into a higher tax bracket can negate any fiscal gains you make from the added income. The

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5 smart things to do: Some tax refund tips

Someone wise once said the best time to plant a tree is today. For most youths that’s a negligible truth; when you’re young, the last thing you want to do is put money away for a version of yourself you won’t be for a long time. Young people want cars and clothes and holidays and

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SMSF strategy – Tax Office form to adjust concessional contributions

The ATO has released a form that notifies it that a member of a self-managed superannuation fund (SMSF) has made concessional contributions in one financial year (year 1) but their SMSF did not allocate them to the member until the next financial year (year 2). Most SMSFs use provisions in their trust deeds concerning contribution reserves to

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