by Swot Accoountants | Sep 1, 2022 | Business News, Penalties
Who? All directors of a company, registered Australian body, a registered foreign company, or Aboriginal and Torres Strait Islander corporation will need a director identification number (Director ID). What? A director ID is a unique identifier you need to apply for...
by Swot Accoountants | Jun 1, 2022 | Business News, Payroll, Super
Removal of the $450 monthly income threshold Previously, employees needed to earn a minimum of $450 in gross income from one employer per month to be eligible for the Super Guarantee (SG). From 1 July 2022, however, this cap has been removed by the federal government,...
by Swot Accoountants | May 1, 2022 | Business News, Business Training, Fringe Benefit Tax (FBT), Tax & Compliance, Tax Offset
On 29 March 2022, the Treasurer handed down the 2022/23 Budget with changes to tax and superannuation laws. Here is a summary of some of the measures that may impact businesses and individuals. Small Business Technology Investment Boost and Small Business Skills and...
by Swot Accoountants | Apr 1, 2022 | Business News, Super, Tax & Compliance
Determining the nature of the engagement – is the worker an employee or contractor? This is important from the tax and super point of view because employees will have tax withheld from their wages and super paid by the employer. In contrast, contractors may be treated...
by Swot Accoountants | Mar 1, 2022 | Business News, Companies & Trusts, Tax & Compliance
The ATO has released public advice and guidance (PAG) products relating to the tax treatment of trust entitlements arising out of reimbursement agreements and unpaid present entitlements (UPEs) of trust beneficiaries. The following draft products have been released...
by Swot Accoountants | Jan 1, 2022 | Business News, Business Training, Penalties
When you need to apply for a director ID depends on when you first became a director. If you were appointed a director on or before 31 October 2021, you have until 30 November 2022 to apply If you were appointed a director between 1 November 2021 and 4 April 2022, you...
