Single Touch Payroll Phase 2
March 18, 2021
From 1 January 2022, employers will need to start sending additional payroll information through Single Touch Payroll (STP). This is known as the STP expansion, or STP Phase 2.
Join t...
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Modernising Business Registers program: Director ID regime consultation
March 18, 2021
Treasury has issued exposure drafts relating to the director ID regime which forms part of the Modernising Business Registers (MBR) Program. The director identification number (director ID...
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Resigning or removing a company director – changes from 18 February 2021
March 11, 2021
Effective 18 February 2021, amendments have been made to existing legislation on back dating director resignations. ASIC has updated its guidance to reflect that:
ASIC will no longer ...
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CGT small business concessions: property investment companies
March 4, 2021
In Ruling TR 2019/1, the ATO accepted that a company can be carrying on a business even if its activities are relatively limited and consist of passively receiving investment returns or ren...
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2021 FBT Return Lodgement Tips
March 4, 2021
The fringe benefits tax (FBT) year ends on 31 March. Employers who have provided benefits to their employees in the past 12 months will need to:
work out which of these benefits attra...
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Contribution cap will increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021
February 25, 2021
The Contribution caps for both concessional and non-concessional contribution increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021.
The new ...
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Victoria: COVID-19 ‘circuit breaker’ lockdown support
February 25, 2021
Under the Business Costs Assistance Program, eligible small businesses, including sole traders, with an annual payroll of up to $3 million can receive a one-off grant of $2000, whether they...
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NSW releases build-to-rent tax concessions
February 18, 2021
The NSW Government has set out new provisions for build-to-rent housing, and tax concessions for build-to-rent property.
NSW Treasurer Dominic Perrottet says, “We’ve levelled the pl...
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NSW extends stamp duty relief
February 18, 2021
The NSW Government has extended stamp duty relief for eligible purchasers until 31 July 2021. Under the temporary changes the cap on the value of new homes at which stamp duty exemptions a...
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NSW releases build-to-rent tax concessions
February 18, 2021
The NSW Government has set out new provisions for build-to-rent housing, and tax concessions for build-to-rent property.
NSW Treasurer Dominic Perrottet says, “We’ve levelled the pl...
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