The Government has resurrected the Superannuation Guarantee (SG) amnesty giving employers that have fallen behind with their SG obligations the ability to “self-correct.” This time however, the incentive of the amnesty is strengthened by harsh penalties for those that fail to take action.

Corporate Secretarial, Financial Accounting, SuperannuationJPR BUSINESS GROUP4 October 2019superannuation, superannuation guarantee, small business

Towards Zero Interest Rates (and what it means to you)

The Reserve Bank of Australia is widely tipped to reduce interest rates again to historic lows. Easton Wealth economist Emmanuel Calligeris explores the impact.

Investment, Corporate Secretarial, TaxationJPR BUSINESS GROUP2 October 2019interest rates, low interest rates, cash rate

Uber style ride sharing and FBT

The ATO has confirmed its view that travel in ride sharing services is not exempt from FBT under this specific exemption as they do not meet the definition of a taxi service under the FBT laws (even though they do under GST law).

However, this does not mean that FBT will necessarily apply to travel undertaken by employees using a ride sharing service.

Corporate Secretarial, TaxationJPR BUSINESS GROUP9 August 2019FBT, Fringe benefit tax, ride share, uber, taxation

The Government doesn't want your business accepting cash payments of $10,000 or more - why?

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*.

Corporate Secretarial, Financial Accounting, TaxationJPR BUSINESS GROUP9 August 2019business, retai, fam, tax, taxation, black economy

Single Touch Payroll Update

The ATO has reminded employers that legislation has been passed to extend Single Touch Payroll ('STP') to include all employers from 1 July 2019.

This will be a gradual start, and not all employers will start reporting at the same time.

Corporate Secretarial, Financial Accounting, TaxationJPR BUSINESS GROUP21 June 2019stp, single touch payroll, Tax, Taxation, payroll, EOFY

How to prepare for a Tax Office visit

The Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy.

This financial year, the ATO has visited 22 regions with another four in progress. Next financial year they plan on visiting over 10,000 businesses.

Taxation, Financial Accounting, Corporate SecretarialJPR BUSINESS GROUP6 June 2019Tax, australian tax office, audit

Tax time: Are you right in the ATO's sights?

A consistent theme this tax time is overclaiming and under reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for you, your business and your SMSF.

Corporate Secretarial, Financial Accounting, Superannuation, TaxationJPR BUSINESS GROUP6 June 2019Tax, tax deductions, Taxation, australian tax office, ATO, superannuation

Single touch payroll extended to all employers

From 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include certain salary sacrificed amounts.