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June 2019 Newsletter

This time around we highlight again the imminent arrival of Single Touch Payroll and urge any business that employs people to get their systems ready or make contact with us to find out more. We also highlight the increasing incidence of phone scams purporting to be from the Tax Office, and new personal liabilities for directors of employers who fail to meet their Superannuation Guarantee obligations.

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2019-20 Federal Budget

The 2019-20 Federal Budget was handed down last night, the first delivered by Treasurer Josh Frydenberg. The big headline is a forecast return to surplus for 2019-20 year for the first time in a decade. While there were, as always, a broad range of announcements across different sectors and interests, we are of course primarily interested here in those measures that specifically impact the world of tax and business. From that point of view, there is very little in the Budget to get excited about or even mention. Add to that the fact that almost all of these announcements are contingent on the Coalition winning the upcoming election, and it makes for a very uneventful Budget update.

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December 2018 Newsletter

With a Federal Election to be called next year, and a Labor victory looking increasingly likely after recent Coalition instability, we thought it would be worth taking a look at one of Labor's more divisive proposals - abolishing refunds of dividend imputation credits for those with no tax to pay. We look at why it's yet another regrettable shift in the superannuation goalposts for those planning for retirement. We also look at how fast-tracking the company tax rate cuts may actually cost small business more in tax, and also detail our Christmas closing times for this year.

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