NEWS
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As 30 June is fast approaching and we are scratching our head about the best methods to help reduce our taxes, why not consider "Donations". Not only will this reduce your taxes* but it will also benefit our wider community.
Give back today and help put a "Smile onto someone's dial".
We are proud supporters of "Penny Marathon". In a world that has been ravaged with tragedies', this fund helps the forgotten members - Animals.
Their website tells of their story. Have a look today: http://www.pennymarathon.com/
* Note these are deductible gift recipient registered charities only
Superannuation Changes Effective 1 July 2022
$450 super guarantee threshold removal
Due to a super guarantee legislation change, the $450 threshold will be removed from 1 July 2022. This will affect all payruns after 1 July.
Super guarantee rate to increase to 10.5%
The minimum super guarantee rate will increase to 10.5% from 1 July 2022. You will need to use this "new" rate to calculate super on payments you make to employees on or after 1 July 2022.
If you have any questions relating to these changes, please contact us.
News & Updates
Superannuation Changes Effective 1 July 2022
$450 super guarantee threshold removal
Due to a super guarantee legislation change, the $450 threshold will be removed from 1 July 2022. This will affect all payruns after 1 July.
Super guarantee rate to increase to 10.5%
The minimum super guarantee rate will increase to 10.5% from 1 July 2022. You will need to use this "new" rate to calculate super on payments you make to employees on or after 1 July 2022.
If you have any questions relating to these changes, please contact us.
COVID-19
We are all aware of the Coronavirus which has taken the world by storm.
The Australian Government has made several announcements, 12 March 2020 and 22 March 2020 with offerings via a stimulus package to help Australians through this difficult and uncertain times.
We have comprised a summary of these announcements to help our clients understand where they are positioned. We will continue to update with new developments as they come to light.
We are here to continue working with our clients to get through this period. We are limiting our face to face, so alternate arrangements can be made either by teleconference or video conferencing to meet their needs.
We ask that all of our valued clients, their families and the general public remain vigilant and heed the warnings from the Government as a means for us to prevent the spreading and to keep safe.
Be kind to each other and reach out if you need help or to talk. We are here to support each other.
Has your business had its Pre-30 June Health Check?
As we look after our personal health, what about the health of our business?
Here are a few tips that can be addressed to help minimise your businesses tax and forward plan.
1) Review your structure - is your current set up still the best for you?
2) Superannuation - ensure your superannuation guarantee is paid well before 30 June to ensure you receive the tax deduction.
3) Capital assets - Now is the perfect time to start looking at upgrade your capital assets, following the Federal Budget announcements on 12th May 2015.
4) Bad Debts - do you have any that you know you will not be paid?
5) Donations - consider registered entities to receive the tax deduction on amounts over $2.
6) Supplies - stock up now.
7) Trading Stock - prepare for an accurate stock take.
8) Insurances - are yours current and set up the most beneficial way?
Contact me today and ask for your Business Health Check.