CGT Strategy highlighted with work test exemption

In December last year, the government finalised the regulations for the work test exemption measure which enables individuals aged 65 to 74 to make voluntary contributions to superannuation for an additional 12-month period from the end of the financial year in which they last met the work test. In order to be eligible, they have […]

Getting Your Small Business Ready For STP Reporting

From 1 July 2019, Single Touch Payroll (STP) reporting will become mandatory for all employers. Small businesses (i.e. those with fewer than 20 employees) have previously been exempt, but will now need to take action to ensure they’re ready. These small businesses have a three-month transition period between 1 July and 30 September to get their […]

ATO tweaks ABN application process

The tax office has amended its Australian business number application process to ensure applicants are entitled to an ABN, giving it greater visibility over an applicant’s history. According to an ATO spokesperson, the tax office has implemented changes to the ABN application process to make it easier for applicants to determine that they are entitled […]

SMSF Benchmark Report – Class

Class provides detailed analysis of newly established SMSFs, delivering revealing insights on key characteristics and trends. Background- The Class SMSF Benchmark Report, released for March 2019, is a statistical analysis of approximately 170,000 Self Managed Super Funds administered on Class Super, representing around 28% of the estimated number of SMSFs in Australia today. The quarterly […]