Financial support for those affected by bushfires

Fire

The last few months have seen tragic loss of lives, properties and wildlife. If you have been affected, here are some resources that may help ease some of your financial worries: The ATO’s bushfire support page offers impacted parties a range of tax assistance including: extra time to pay debts or lodge tax forms help finding lost tax […]

Tax office to crack down on luxury items owned by the rich

Luxury car

At the end of last year the ATO began cracking down on tax dodgers by demanding information from 30 insurance companies about their wealthy customers during the past five years. Insurers were instructed to provide policy information on assets that met these thresholds: Aircraft: $150,000 Marine vessels: $100,000 Fine art: $100,000 per item Motor vehicles: […]

Superannuation and payroll changes to watch out for in 2020

Superannuation

The new year brings with it a raft of payroll changes, many aimed at reducing wage theft and non-compliance with awards.There are also several changes to superannuation to ensure fairer outcomes for employees. Paying super on gross rate of pay As of 1 January 2020, employers are no longer allowed to pay super only on […]