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…
Single Touch Payroll - Do it Once, do it Right
IN BRIEF
The new Australian Single Touch payroll system is coming into effect in 2019, making way for a more efficient and secure system of payroll filing.
While the impact for businesses already using online accounting software will…
Solicitors Trust Account Audit March 2019
For any Law Practitioner, the Law Society requires an audit of the trust records at 31st March each year under the Law Professional Uniform Law (NSW).
The Law Society website sets this out as follows:
Appointing an external examiner
Your…
ATO Benchmarks A Handy Business Check-up
The ATO has released its latest benchmark data to help businesses in over 100 industries compare their performance against competitors. These valuable benchmarks can help you assess measures like your cost of sales or total expenses, among…
Compulsory Super: How Can You Speed Up Your Retirement Savings?
"Superannuation guarantee" (SG) contributions are the minimum superannuation contributions that employers must make for their employees. The SG rate is currently 9.5%, which means employers must make contributions equal to 9.5% of the employee's…
Three Common CGT Obstacles For Homeowners
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 capital gains tax (CGT) when the home is sold. But this "main residence exemption"…
Increased Super Thresholds For 2019-20
While the concessional and non-concessional contributions caps will remain unchanged for the 2019-20 financial year, certain other important superannuation thresholds are set to increase from 1 July 2019.
The "CGT cap amount" for non-concessional…
How Does Listing My Home On Airbnb Affect My Tax?
Millions of Australians are now using the sharing economy to earn some extra money on the side. Thanks to smartphones and user-friendly app technology, people young and old are using peer-to-peer digital platforms to access sharing services…
Tax residency rules reassessed in recent Full Federal Court decision
The recent Full Federal Court decision of Harding v Commissioner of Taxation is an important tax case for Australian expatriates living and working overseas. The Court analysed two of the tests for when an individual will continue to be a tax…
Greater Flexibility For Accessing Company Losses
The ability to carry forward tax losses is important for business growth and innovation. A tax loss arises when a taxpayer has more deductions in an income year than assessable income. Being able to carry forward tax losses and deduct these…