What changed on 1 July

What changed on 1 July

A reminder of what changed on 1 July 2022 Business Superannuation guarantee increased to 10.5%$450 super guarantee threshold removed for employees aged 18 and over Lower small business GST and PAYG tax instalments. The total tax liability remains the same....
Tax time targets

Tax time targets

 The ATO has flagged four priority areas where people are making mistakes this tax season. With tax season almost upon us, the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season. 1.     Record-keeping2.     Work-related...
What to expect from the new Australian Government

What to expect from the new Australian Government

The Governor-General has sworn in Australia’s thirty-first Prime Minister, Anthony Albanese. The new Government faces plenty of problems and no easy fixes. Here’s what we know so far about their policies. The economy The Government has stated that its economic...
What’s changing on 1 July 2022?

What’s changing on 1 July 2022?

A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up: For business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each...