Month: May 2022

Posted in

Superannuation in Australia to Increase to 10.5% in July

To our valued clients, Starting 01 July 2022, the superannuation contribution rate will increase to 10.5 per cent. A yearly 0.5 per cent increase will also take effect at the beginning of each financial year for the next three years for a final contribution rate of 12 per cent. Why a gradual increase? Employers in […]

CONTINUE READING Superannuation in Australia to Increase to 10.5% in July 1 min read
Posted in
Posted in

ABRS Introduces New Director ID Requirement

The government is introducing a new requirement for directors called the Director ID, a unique identification number that will help prevent the use of false or fraudulent director identities. This will be implemented by the Australian Business Registry Services (ABRS) under the Australian Taxation Office (ATO).   Who needs a director ID? Introduced in November […]

CONTINUE READING ABRS Introduces New Director ID Requirement 3 min read
Posted in
Posted in

Federal Budget 2022/23 Highlights: Government Addresses Increasing Costs Of Living

With the election looming, this year’s Federal Budget introduces significant personal tax measures in response to the increasing cost of living alongside rising inflation. The government also announced actions to streamline reporting and digitise systems to reduce the compliance burden on taxpayers. Meanwhile, a skills and training boost as well as the technology investment boost […]

CONTINUE READING Federal Budget 2022/23 Highlights: Government Addresses Increasing Costs Of Living 5 min read
Posted in
Posted in

NSW State Gov Offers Grant to Small Businesses Affected by Omicron

Small businesses, sole traders, and not-for-profit organisations affected by the COVID-19 Omicron wave in February 2022 may be eligible for payroll assistance under NSW Government’s Small Business Support Program. Those who qualify for the grant will receive one payment covering the four weeks of February 2022 only to help maintain employee headcount.  What you’ll receive […]

CONTINUE READING NSW State Gov Offers Grant to Small Businesses Affected by Omicron 2 min read