by Swot Accoountants | Mar 11, 2024 | Business News, Business Training, Super, Tax & Compliance
Introduction: As a small business owner, you’re likely accustomed to wearing multiple hats – from managing day-to-day operations to overseeing financial matters. While you focus on the immediate needs of your business, it’s essential not to overlook a...
by Swot Accoountants | Feb 3, 2024 | Business News, Business Training, Super, Tax & Compliance
Introduction: Being a sole trader or self-employed individual comes with its own set of challenges and rewards. From managing finances to staying compliant with tax regulations, there’s a lot on your plate. In this blog, we’ll explore essential tips and...
by Swot Accoountants | Jun 2, 2023 | Business News, Business Training, Super, Tax & Compliance
If you have employees or hire eligible contractors for your small business, it’s crucial to stay informed about the latest changes. Starting from 1st July 2023, the new Super Guarantee (SG) rate will be 11%. To ensure compliance, it is essential to update your...
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 | 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 21, 2021 | Super, Tax & Compliance
Concessional super contributions are part of most employee’s salary package (Super Guarantee contributions). These contributions are made into the employee’s super fund before tax. The contributions are then taxed concessionally at the special low rate of 15%. Please...
