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 Small business GST and PAYG tax instalments lowered (the total tax liability remains the same, just...
The ATO has released data on scams reports, age cohorts, channel used and top reported scams for 2021. Scam Reports 50,684 tax and super scams reported in 2021 The average dollar amount lost to a tax and super scam was $5600 Age In 2021, people aged 25 to 34 made the...
The ATO has not pursued many business tax debts during the pandemic and allowed tax refunds to flow through even if the business had a tax debt. That position has now changed and the ATO has resumed debt collection and offsetting tax debts against refunds. If...
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...
In early November, the Commonwealth Bank announced that it is now Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app. You know when the banks come on board, cryptocurrency has become normal....
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