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
Author Archives: Catalyst Financial
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
ForPurposeCo. – The epitome of social enterprise!
Once in a while, you come across an organisation doing something truly fabulous – something that makes you stop and just think “Wow”. Well, we are delighted to share with you the story of one of our clients who is doing just that! ForPurposeCo. is “a sustainable, socially focused, profit-generating business with people, planet and… Continue Reading
“Where’s my refund?” and other questions about your 2019 Tax Return
Well, it’s that time of year again! And as you have no doubt heard in the media, the usual post-30 June rush of individual tax returns being lodged has been well and truly out-done this year. A record 650,000 people lodged their returns in the first week of July, many of them expecting a juicy… Continue Reading
ABN registrations under scrutiny: does yours stack up?
This year, the ATO has been focused on improving the integrity of the Australian Business Register (ABR). You may have even heard that the ATO has been “bulk cancelling” a large number of ABNs. So, what’s the problem and how might this affect you? When does the ATO cancel an ABN? Only entities that “carry… Continue Reading
To SMSF, or not to SMSF?
For many people, SMSFs are a great option for building retirement savings, but they are not necessarily suitable for everyone. Before setting up an SMSF, it’s essential to be fully informed about the pros and cons of an SMSF structure. There is no one right or wrong answer as to whether an SMSF is the… Continue Reading
Traps of the CGT Main Residence Exemption
The main residence exemption is probably the most well-known feature of the capital gains tax (CGT) system to non-tax professionals. In straightforward cases, a property owned by individuals and used as a main residence throughout the period of ownership will receive a full exemption from CGT when the home is sold. Just about every homeowner… Continue Reading
Division 293 Shock!
Division 293 tax is an additional tax on concessional super contributions for “high income earners”, but the threshold isn’t so “high” and many taxpayers are caught by surprise when they receive the extra tax bill. This article explains what Division 293 tax is, who it applies to and how it can be dealt with, so… Continue Reading
ATO benchmarks – A handy business check-up
The ATO’s business benchmark data is a useful tool for smart business owners. These benchmarks can be accessed freely and used to judge your business’ performance against industry standards, identify your ATO audit risk and other tax compliance issues, and prompt new thinking about ways to improve your profit margins. The ATO has released its… Continue Reading
2019 Federal Government Budget
At 7:30pm tonight, Josh Frydenberg delivered his first budget announcing that the “budget is back in the black and Australia is back on track” and “for the first time in 12 years, our nation is again paying its own way”. The treasurer announced a forecast budget surplus of $7.1 Billion for 2019-20, $11 Billion for… Continue Reading
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- 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
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F +61 2 8064 5364
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