Year of the Tiger: Roaring or Bellowing?

The 2022 Luna New Year, Year of the Tiger, is courage and bravery. It is a year to drive out evil and one of momentum and change. The message; walk boldly with courage. And it seems the Reserve Bank Governor is aligned with this sentiment.

Superannuation, TaxationJPR BUSINESS GROUP2 February 2022year of the tiger, tax, superannuation, inflation

2022: The year ahead

2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our personal and work lives. Here is some of what we can expect in 2022

Taxation, New BusinessJPR BUSINESS GROUP8 December 2021new year, budget, federal budget, Federal Government

The ‘Backpacker Tax’ and the High Court

Since 2017, the ‘backpacker tax’ has taxed the first dollar of income a backpacker earns in Australia - regardless of their residency status.

TaxationJPR BUSINESS GROUP8 December 2021Tax, backpacker tax, high court

The top Christmas tax questions

Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are our top issues:

TaxationJPR BUSINESS GROUP8 December 2021Tax, Taxation

If Santa was an Australian tax resident

A lighter look at the complexity of Australian taxation laws and the year that has been.

TaxationJPR BUSINESS GROUP4 December 2021Tax, ATO, australian tax office, Australian Economy

Overseas gifts and loans in the spotlight

The ATO has recently issued an alert on gifts or loans from overseas. The ATO is particularly concerned about schemes and arrangements designed specifically to circumvent Australian tax laws. In general, Australian-resident taxpayers need to declare their worldwide income in their Australian tax return

TaxationJPR BUSINESS GROUP10 November 2021Taxation, Tax, australian tax office, ATO

SMSF COVID-19 Audit Relief Extended

The ATO has extended COVID-19 relief for SMSF trustees. The relief measures, which protect trustees from COVID-19 related contraventions of the super laws, now extend from the 2019-20, 2020-21 and 2021-22 financial years

Tax and the Normalisation of Cryptocurrency

The Australian Taxation Office recently updated its guidance on tax and cryptocurrency.

In early November, the Commonwealth Bank announced that it is now Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app. You know when the banks come on board, cryptocurrency has become normal.

TaxationJPR BUSINESS GROUP10 November 2021Bitcoin, Cryptocurrency, ATO, australian tax office, Crypto, NFT

How to set up your Director ID

Directors are now required to register for a unique identification number that they will keep for life. What is it?

A director ID is a 15 digit identification number that, once issued, will remain with that director for life regardless of whether they stop being a director, change companies, change their name, or move overseas.

Corporate Secretarial, Financial AccountingJPR BUSINESS GROUP10 November 2021director ID, Board, Director

Recruiting new employees? The 1 November superannuation rule changes

When your business hires a new employee, the Choice of Fund form is used to identify where they want their superannuation to be directed. If the employee does not identify a fund, generally the employer directs their superannuation into a default fund.