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What’s Changing on 1 July 2022?

What’s Changing on 1 July 2022?

May 27, 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%...
Fuel Tax Credit Rates Change

Fuel Tax Credit Rates Change

May 27, 2022

The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022. This has caused a reduction in fuel tax...
The 120% Deduction for Skills Training and Technology Costs

The 120% Deduction for Skills Training and Technology Costs

May 27, 2022

It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails...
Single Touch Payroll Phase 2

Single Touch Payroll Phase 2

Nov 18, 2021

Single Touch Payroll (STP) is how you send your payroll information to the ATO and it’s been around since July 2018. The ATO is expanding STP to include additional information in your payroll reporting. They’re calling this expansion STP Phase 2 and it...
Superannuation When You Die

Superannuation When You Die

Nov 12, 2021

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund.  When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the...