small business

Director penalty change strengthens SG rules

Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company (see the relevant section of the law here). But there are also some tax obligations for PAYG withholding and superannuation guarantee charge payments, which are outlined under the

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Tax deductibility of ‘non-compliant’ payments about to get the chop

From 1 July 2019, businesses will only be able to claim deductions for payments that are made to workers (employees or contractors) when the employer has complied with the pay-as-you-go (PAYG) withholding and other tax reporting obligations for that payment. If the PAYG withholding rules require a business to withhold an amount from a payment that

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STP essentials (relax, it’ll be okay)

With the 1 July 2019 deadline for smaller employees to start reporting via Single Touch Payroll (STP) looming large on the horizon, Tax & Super Australia speaks with Assistant Commissioner John Shepherd, the ATO’s STP program lead, about the STP essentials, and the finer points, that your clients need to know. {A downloadable Fact Sheet

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The budget’s boost to instant asset write-off is now law

  Federal Budget night announced an increase in the instant asset threshold, and also an extension of which businesses could access the measure. Now the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019 has achieved Royal Assent. (And it did so on 6 April, so your affected clients may appreciate the

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SG amnesty is not law, but its promise has gathered $100 million so far

  Tax & Super Australia reported recently that the failure of the Superannuation Guarantee Amnesty to pass into law has led to a problem — namely, that employers who came forward after the announcement of the amnesty, via a media release in May 2018, on the expectation of enjoying the amnesty’s benefits, found themselves facing

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