by Luke Quinnell The ATO highlights that they “take a firm approach on the non-payment of super”, and this applies even if you are the only employee of your business! Here’s how to stay out of the ATO’s crosshairs. We have noticed a substantial increase in ATO compliance action around superannuation guarantee payments. With the […]
READ MOREAs a financial adviser, part of my job is to help my clients plan for their future, and that includes planning for what happens to their Superannuation when they pass away. Let’s investigate this intriguing topic. Cracking the Superannuation Code First things first, your superannuation isn’t automatically included in your Will unless you have given […]
READ MOREThe Australian Taxation Office (ATO) is using its Single Touch Payroll (STP) reporting system to enhance its monitoring, identification, and auditing of employers who are failing to pay their employees’ superannuation contributions. STP is an electronic reporting system that allows employers to report salary and wage information, payroll tax, and superannuation contributions to the ATO. […]
READ MOREThe new financial year is fast approaching and with this comes various legislative changes enacted from the previous Government. There have also been a number of changes proposed by the new Government, which may take effect in the coming months. Here’s what you need to know. Legislated Changes Below is a brief summary of some […]
READ MOREIf you have a defined benefit superannuation scheme you have no doubt been told at some stage how lucky you are to have a great superannuation fund. Whilst this statement is somewhat true, its only a great fund if you make sure you maximise your final retirement benefit. Most people today have a normal superannuation […]
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