JobKeeper to be extended
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The ATOs ABN cleanup
The ATO has announced that in October 2019, they will be focusing on the bulk Australian business number (ABN) cancellation program. This program will be cancelling ABNs that the ATO is confident are inactive in an attempt to create cohesion within the Australian Business Register (ABR). There are a few areas the ATO looks into…
Travels with my SMSF
Travelling overseas for an extended period of time is an exciting adventure and a chance to have a break. However, SMSFs do not take a break when you do, which is why it is important to ensure everything remains in line while you are away. Trustees that travel or relocate overseas for an extended period…
Amendment to Housing Affordability Measures introduced
The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 was re-introduced to parliament on 23 October 2019. This comes after it was first announced in the 2017-18 Federal Budget. The amendment introduces a new system where the government will provide up to an additional 10% capital gains tax (CGT) discount for resident…
Do you need to pay superannuation for contractors?
A contractor can turn into an employee for legal and financial obligations, so when working with contractors, employers need to test whether they count as an employee or contractor for superannuation purposes according to the rules stated in the Superannuation Guarantee (SG). The ATO states that even if contractors quote an Australian Business Number (ABN),…