News

Important Single Touch Payroll Update

Single Touch Payroll (STP) and Annual PAYG Payment Summaries – a reminder to both employers and employees.

ATO busts tax time 2020 myths

  The ATO has issued a list of tax-time myths, warning taxpayers that get-rich-quick schemes will only slow down returns.  

SMSFs urged to review leases before granting rent relief

  SMSF clients planning to provide rent reductions to tenants should review the lease agreement to ensure the provision of rent relief won’t result in a breach of the lease, says an industry lawyer.  

New financial year to bring new rules for super

  As the 2019–20 financial year draws to a close, a technical expert has highlighted some of the new rules commencing for super funds for the 2020–21 financial year.  

Ways to outsmart your cognitive biases

  As markets continue to be wax and wane due to ongoing coronavirus fears and subdued employment and economic recovery numbers, it seems timely to remind ourselves of the types of behavioural and emotional biases that could lead to potentially risky investment behaviour, and how you can avoid them.  

COVID-19 cuts risk pension pain

  The Federal Government recently announced the mandatory minimum drawdown rates for retirees with account-based pensions would be temporarily halved in both the 2019-20 and 2020-21 financial years.  

New laws prompt review of SMSF estate plans

  In light of recent laws passed this month, many clients will need to review their estate planning to ensure their will adequately explains how superannuation and insurance payments should be dealt with.  

SMSF sector grows, new fund numbers drop

  Overall growth of SMSF sector has continued despite a drop in the number of new funds in the December quarter 2019, the latest ATO statistical report shows.  

‘But how will we pay for this?’

  It's a natural question about global policymakers' multitrillion-dollar efforts to prop up economies and markets against the monumental threat of the COVID-19 pandemic. And the question has understandably taken a back seat to confronting immediate health and welfare challenges.  

COVID-19 resources -Update July 2020

  Several new links have been added to the many already in this article, links that date back to the beginning of the COVID-19 pandemic. If you have any questions, or require further assistance, please send us an email or phone.  

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