News and Resources

 With 30 June 2021 fast approaching, it’s time to think about concessional super contributions and minimum pension drawdowns. Concessional contributions need to be received by the fund before 30 June 2021 to be deductible in this financial year. If you have a total super balance of less than $500,000 and do not use the full…

The minimum superannuation contribution rate on ordinary times earnings paid to your employees is about to increase from 9.5% to 10%. This takes effect from 1 July 2021. Computer based payroll systems such as Xero and MYOB should make the correct calculations automatically. If your payroll system is not computer based, you will need to make…

On 14 August 2020, the Government provided more details about extending the JobKeeper employment test for JobKeeper fortnights beginning on, or after 3 August 2020. Key Points From 3 August, the eligible employee test has been extended to include individuals who were employed on 1 July 2020 (previously 1 March 2020) and are not currently…

On 21 July 2020, the Government announced that it is extending JobKeeper Payments for a further 6 months until 28 March 2021 and is targeting those businesses who continue to be significantly impacted by the Coronavirus. What is the Relief? The existing current fortnightly payment rate of $1,500 will remain in place until 27 September 2020 where it…

On 9 June, 2020, the government announced it will extend the $150,000 instant asset write-off for six months until 31 December 2020. This proposed change is subject to the parliamentary process and is not yet law. Currently, Australian business with annual turnover of less than $500 million are able to take advantage of the asset write-off…

The NSW $10,000 Covid-19 Support Grant Applications are available now until 1 June 2020. If you are eligible, don’t miss the deadline. Main criteria to meet the eligibility requirements: Business must be based in NSW Must be registered with an ABN as at 1 March 2020 Employ 1-19 staff as at 1 March 2020 Be able…