Are you a small business owner selling your business or disposing of an active business asset? If so, did you know you might be able to disregard some or all of any capital gain by putting the proceeds into superannuation?
Did you know that lower-income earning individuals who earn less than $450 per month are currently not eligible for superannuation guarantee (SG) contributions from their employer? The $450 per month threshold also applies if an employee has more than one part-time or casual job and they earn more than $450 per month from all jobs combined. It simply comes down to the amount earned per job which can disadvantage many younger or lower-income workers.
This is a safe, ballot box friendly Budget as expected with a focus on jobs, cost of living, home ownership and health. Some of the highlights of last night’s Federal budget include;
Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes.
Temporary full expensing of business assets has now been extended to 30 June 2023
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.
Are you over 67 years and looking to put extra money into your superannuation fund? Are you no longer working? The rules are changing from [...]
From 28 September 2020, the second tranche of the JobKeeper scheme changes the eligibility tests for employers and employees, and the method and amount paid [...]
Date · From 30 March 2020 for six months · For employees employed at and from 1 March 2020 · First payments in first [...]
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides [...]