Yesterday, Prime Minister Scott Morrison announced the federal government’s economic response to the coronavirus (COVID-19). The economic response includes tax-related measures and administrative relief, designed to support businesses during this period of uncertainty and economic downturn. Tax Measures to Support Business Investment The government will support business investment with the following tax measures: Tax-free payment… Continue Reading
Category Archives: Business
The Super Guarantee Opt-out is In!
If you’re a high-income earner with multiple employers, you may unintentionally exceed the super concessional contributions cap in any year, causing you to be liable for tax on your excess concessional contributions. To remedy this, laws have recently been passed to allow you to opt-out of super guarantee from some of your employers. The reason… Continue Reading
Going, going, gone! Main Residence Exemption removed for Foreign Residents
The Capital Gain Tax (CGT) exemption we all love and know has been abolished for most individuals who are non-residents for tax purposes at the time they sell their home. The bill effecting the change received royal assent in December 2019, meaning the changes are now law. Importantly, the changes have been applied retrospectively, with… Continue Reading
The Crowdfunding Craze – Implications for Promoters and Contributors
Crowdfunding is the process of raising small amounts of funds from a large number of people, primarily online, via social media and crowdfunding platforms like Kickstarter and GoFundMe. A recent example is Celeste Barber’s bushfire fundraising campaign on Facebook, which became worldwide news when it raised more than $51 million in a matter of a… Continue Reading
An Update from the 2020 Xero Roadshow
Each year, the Xero Roadshow is a great opportunity for us to hear about upcoming releases in Xero and the latest and greatest in Xero Add-ons and partner apps, as well as to catch up with other accountants and bookkeepers and share our experiences. Here are some of the highlights from this year’s Roadshow. … Continue Reading
Tis the Season! Tax implications of Christmas festivities
Planning to celebrate the Season in style? With Christmas and the end of the working year right on our doorstep, most of us are floating in a sea of lunches, gift-giving and probably a few too many festive beverages! While we all know it as the Silly Season, there might be a Grinch-like part of… Continue Reading
Land Tax or Land mine? Changes to NSW stamp duty and land tax for discretionary trusts
The NSW government recently introduced a Bill affecting the application of transfer duty (previously known as stamp duty) and land tax surcharges to discretionary trusts that own or will own residential land in NSW. Surcharge purchaser duty and Surcharge land tax The surcharge on transfer duty (known as “surcharge purchaser duty”) and the surcharge land… Continue Reading
$10,000 cash payment limit expected to take effect from 1 January 2020
$10,000 cash payment limit expected to take effect from 1 January 2020 In the 2018-19 Budget, the Government announced it would introduce an economy-wide cash payment limit of $10,000 for payments made or accepted by businesses for goods and services. The announcement was made on the back of a recommendation by the Black Economy Taskforce… Continue Reading
Superannuation Guarantee Amnesty legislation re-introduced
Unpaid (and under-paid) employer superannuation has been an ongoing and pervasive issue ever since the introduction of superannuation guarantee on 1 July 1992. While historically the Australian Taxation Office (ATO) has had to rely on employees reporting instances of unpaid super and analysis of tax return data to identify non-compliant employers, there has been a… Continue Reading
GST on Imports – Are you optimising your Cash Flow?
Looking for opportunities to improve cash flow? If you import goods as part of your business, you don’t have to pay goods and services tax (GST) upfront if you’re registered for the ATO’s deferred GST scheme. Provided you meet certain eligibility requirements, you can defer payment of the GST until your next activity statement. The… Continue Reading
Newsletters
Click here to sign up to our newsletter:
- 2024 Federal Government Budget
- 2023 Federal Government Budget
- Revised method for claiming working from home expenses
- October 2022 Federal Budget
- 2022 Federal Government Budget
- Professional firms – ATO compliance approach to allocation of profits
- NSW 2022 COVID-19 Business support
- NSW 2021 COVID-19 Micro-Business Grant
- NSW 2021 COVID-19 JobSaver Payment
- NSW 2021 COVID-19 Business Grant
- Greater Sydney COVID-19 Lockdown – What Government Support is Available?
- Be aware and get ready for the upcoming increases to superannuation guarantee payments!
- The COVID-19 tax relief measures and support available for your 2021 tax returns!
- Government Grants Currently Available!
- 2021 Federal Government Budget
- Utilising taxable losses against prior year profits!
- The Benefits of Annual Tax Planning
- Xero Updates – March 2021
- Setting sales targets in uncertain times
- New wages subsidy for employers of apprentices and trainees
- Is your SMSF breaching NALI rules unknowingly?
- 2020 Federal Government Budget
- Jobkeeper – Nominate Additional Employees
- New options for claiming home office expenses during COVID-19
- COVID-19 effects on rental property owners
- Risks involved in consolidating super
- JobKeeper Payment: Eligibility Tests Clarified!
- NSW Government’s Economic Stimulus Package
- Rent relief for Businesses: The Commercial Tenancies Code of Conduct
- JobKeeker Payment – Government Clarifies Employer Eligibility
- JobKeeper Payment – The Next Round of Government Support!
- Second Government Coronavirus Rescue Package
- Government’s Response to Coronavirus Outbreak
- The Super Guarantee Opt-out is In!
- Going, going, gone! Main Residence Exemption removed for Foreign Residents
- The Crowdfunding Craze – Implications for Promoters and Contributors
- An Update from the 2020 Xero Roadshow
- Tis the Season! Tax implications of Christmas festivities
- Land Tax or Land mine? Changes to NSW stamp duty and land tax for discretionary trusts
- $10,000 cash payment limit expected to take effect from 1 January 2020
- Superannuation Guarantee Amnesty legislation re-introduced
- GST on Imports – Are you optimising your Cash Flow?
- ForPurposeCo. – The epitome of social enterprise!
- “Where’s my refund?” and other questions about your 2019 Tax Return
- ABN registrations under scrutiny: does yours stack up?
- To SMSF, or not to SMSF?
- Traps of the CGT Main Residence Exemption
- Division 293 Shock!
- ATO benchmarks – A handy business check-up
- 2019 Federal Government Budget
Contact Catalyst Financial
T +61 2 8064 5362
F +61 2 8064 5364
Send us a Message
How to find us
We are located at Suite 5.01, Level 5, 655 Pacific Highway
St Leonards, NSW 2065
(corner of Christie St)
Main Menu
Resources
Click here to visit our cloud accounting site:
Members of:
Catalyst Financial are cloud accounting experts:
