The already-legislated increase to the SG rate (from 9.5% to 10%) is now payable from 1 July 2021. The government had flagged its intention to repeal the increase. Check that you complied with the new rate for the September 2021 quarter and make any corrections promptly.
Under existing law, the rate will incrementally increase by 0.5% each year until maxing out at 12% from 1 July 2025.
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October - December 2021 archive
Article archive
Anybody who has a Fringe Benefits Tax obligation should take an odometer reading of motor vehicles.
New guidance has been released on best practice principles for debt notifications in response to the re-activation of old debts by the ATO.
The ATO has developed quite a number of benchmarks to help small businesses develop an idea of their performance compared to similar businesses in the same industry.
The new financial year is fast approaching and so are a number of changes to superannuation contribution amounts and the individual tax rates. These changes are outlined below, as is some information on how you may be able to work with these changes when managing your tax affairs during 2024-25.
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