Business owners are advised to take extra security precautions in the lead up to the end of financial year, as cybercriminals are increasingly targeting businesses with email scams. Businesses may also face extra steps to receive GST refunds as extra controls are put in place to combat a growing number of GST refund fraud attempts. [...]
A reminder that superannuation contributions are only tax deductible in this financial year if they are received in your fund before 30 June. We recommend paying contributions well in advance (we suggest by 17 June, or contact your super fund or clearing house for their advice) to factor in possible processing delays. The base annual [...]
The Superannuation Guarantee increases to 10.5% from 1 July and the $450 per month earning threshold will be removed. Businesses are advised to update payroll software to correctly calculate the SG entitlement. Employees previously not eligible for super under the $450 threshold will need to provide their employer with a nominated super fund, which will [...]
Now is the time to finalise and implement your 2021-22 end of financial year tax plan and ensure any last-minute arrangements are accounted for. Here is a quick list of the common matters that will need your attention now to enjoy possible tax saving and business benefits before 30 June. Now is the time to [...]
As we approach the end of another financial year, now is the time to consider the tax planning strategies that will help you optimise your cashflow and avoid paying more tax than you should. Each year, we assist a diverse range of clients – including business owners, family groups and individuals – to make the [...]
As NSW and the rest of the country begins to reopen, business leaders are focusing on the proactive steps they can take now to operate with greater confidence. Here, we reflect on key lessons learned over the past two years, and consider the focus areas that will help deliver efficiencies, growth and success through the [...]
Now is the time to finalise and implement your 2020-21 end of financial year tax plan. With so much financial disruption over the past 12 months, it’s important to make the most of the tax saving measures available to you. Here we consider a range of matters that can be actioned prior to 30 June [...]
As 30 June 2020 approaches, now is the time to consider available options to reduce your income tax in the current financial year (2020FY). The 2020FY has been extraordinary, starting with the devastation of the eastern seaboard bushfires which was followed by the significant economic and social upheaval associated with the arrival of the COVID-19 [...]
