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- Tel: 0431 844 600
Latest News
Single Touch Payroll
Employers: The impacts of COVID-19 may mean you need extra time to complete your Single Touch Payroll finalisation, so we’re giving you until 31 July if you need it. If your employees’ data is ready now, it’s best to finalise by 14 July. Remember to let your employees know when you have finalised their data so they can lodge their income tax returns.
Income Tax Offset
Did you receive a government stimulus payment this last financial year? If you received JobKeeper, Jobseeker or the new COVID-19 Disaster Payment, it needs to be included in your tax return. While some of your payments will be automatically included by late July, remember to make sure you double check all your income is included and correct before you lodge.
Low and middle income earner tax offsets
The low and middle income tax offset has been extended for the 2020-21 financial year and you may be eligible. Any offset amount you’re entitled to depends on your individual circumstances, such as taxable income and how much tax you have paid throughout the year. Remember, you don’t need to complete anything extra at tax time. The offset is applied automatically when you lodge your tax return and will be visible on your notice of assessment.
Self-managed super funds (SMSF)
This is just a demo text and blog section will be updated shortly
Rate rise
Employers: The super guarantee rate increased from 9.5% to 10% on 1 July 2021. Make sure your payroll and accounting systems are updated to incorporate the increase to the super guarantee rate.
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