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Paying Superannuation Contributions Late

Employers who do not pay the correct super for their employees may have to pay a superannuation charge which is made up of the shortfall amount, interest on that amount (currently 10%) and an administration fee. The ATO can take stronger action if an employer doesn’t pay the charge including issuing an ATO penalty notice.

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Small Business Superannuation Clearing House – tax deductions

If you are an employer using the Small Business Superannuation Clearing House to make superannuation contributions on behalf of your employees, there is a tax issue of which you need to be aware. In this video, John Jeffreys, Tax Counsel explains the issue that relates to obtaining a tax deduction for a superannuation contribution to the

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JobKeeper — 8 Steps for Enrolment

On 14 April 2020, the ATO released information that discussed an 8 step process for employers who wish to elect to receive JobKeeper payments. The 8 step process involves information passing between an employer and employee and the payment process for JobKeeper. In this video, John Jeffreys, Tax Counsel of Tax and Super Australia explains

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JobKeeper — Steps for enrolling your eligible employees

Employers must confirm who are their eligible employees as part of the JobKeeper rules. On 14 April 2020, the ATO released information that discussed the steps in the process for employers who wish to elect to receive JobKeeper payments. In this video, John Jeffreys, Tax Counsel of Tax and Super Australia explains these issues.

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JobKeeper information from the ATO

On 14 April 2020, the ATO released its first piece of more detailed information about the JobKeeper payment.  The information covers the process for enrolment by an employer and how employees will nominate themselves to their employer.  It also gives further information on how the decline in turnover test can be calculated in relation to

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COVID-19 Cash Flow Boost Example #3

In this video, John Jeffreys, Tax Counsel of Tax & Super Australia gives a third example of how the cash flow boost incentive operates. In this example the business lodges its BAS each month and obtains the maximum cash flow boost of $100,000.

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COVID-19 Cash Flow Boost Example #2

In this video, John Jeffreys, Tax Counsel of Tax & Super Australia gives a second example of how the cash flow boost operates in practice. In the example, the employer has PAYG withholdings of greater than $10,000 in a quarter but less than $50,000.

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COVID-19 Cash Flow Boost Example #1

In this video, John Jeffreys, Tax Counsel of Tax & Super Australia explains how the first and second cash flow boosts apply to a small business that employs two casual employees.

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JobKeeper Subsidy

In this video, John Jeffreys, Tax Counsel of Tax and Super Australia explains the JobKeeper (not JobSeeker) subsidy that was announced by the Federal Government on 30 March 2020.

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