In the ATO’s first Super Guarantee Gap Report, released in August 2017, it revealed that there is a huge gap between the theoretical amount due by employers to be fully compliant with their SG obligations and the actual contributions received by super funds. The ATO’s report (based on figures for the 2014-15 year) reveals that… Continue Reading
Author Archives: Catalyst Financial
Cyber security: is your small business safe?
Ransomware attacks are a risk that all small businesses face in today’s technological age. Without adequate security and regular backups, your data could be at risk of a cyber-attack. Large corporations and major institutions with highly valuable data are the common targets of cyber infiltration, but small businesses (and in fact anyone using the internet)… Continue Reading
Payroll reporting: A touchy subject
If you are an employer, the way you report payments such as salaries and wages, pay as you go (PAYG) withholding and superannuation is changing. The ATO’s new rules require employers to report these payments directly from their payroll solution in real-time, at the same time as they pay their employees. This is known as… Continue Reading
ATO spotlight on visa holders, sponsors and migration agents
The ATO has launched the latest round of their data-matching program to include all visa holders, visa sponsors and migration agents. They will request the records of approximately 20 million individuals for compliance purposes. Find out if you’re affected and what you can do to avoid a visit from the tax man. The ATO has… Continue Reading
“CASH IS KING”: Practical tips for better cash flow management
Cash flow is one of the most important drivers in a business. Businesses require cash flow to grow, buy new stock, pay expenses, buy assets, and distribute profits to the owners. It is important for businesses to manage cash flow as best as possible to ensure strong future growth. In our November 2017 newsletter we… Continue Reading
Bitcoin – The tax consequences
There has been plenty of press coverage on bitcoin, but what are the tax consequences if you decide to join the craze? Well, that depends on whether you are running a business, or if you are acquiring bitcoin for personal investment. What is bitcoin? Bitcoin is the term for a type of cryptocurrency, a digital… Continue Reading
Are changes to GST rules about to make online shopping more expensive?
Buying online could soon get more expensive. Previously, purchases under the $1,000 low value threshold were exempt from GST. However, years of pressure from vocal Australian retailers has spurred the Government into passing legislation to collect GST on all purchases from 1 July 2018. According to research conducted by the National Australia Bank, in 2017,… Continue Reading
Business Insurance – Are you covered?
Businesses face many different risks on a daily basis. It is prudent for businesses to mitigate these risks through various avenues to reduce the impact on the business if something unexpected happens. One way to mitigate risks is by taking out insurance to compensate the business for any losses or damages that it may suffer… Continue Reading
Happy travels: work-related travel expenses
Travel costs for work can certainly add up, and as it’s not uncommon to hear stories of travel allowance and tax deduction misdemeanours in the news and tax circles, it is worth looking at what you can legitimately claim and some pitfalls to avoid.The three expense areas that can be claimed as tax deductions for… Continue Reading
NSW Small Business Grant
What is the Small Business Grant? Last month we provided an overview of the NSW Payroll Tax Jobs Action Plan (JAP) Rebate. This month we look at the Small Business Grant (SBG), which is a smaller ($2,000) grant available for small businesses that do not pay payroll tax (and therefore do not qualify for the… Continue Reading
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- Payday Superannuation: What Employers Need to Know
- 2026 Federal Government Budget
- Changes to deductibility of ATO interest charges
- 2025 Federal Government Budget
- 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?
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