updates

  • Commission of Audit findings

    “Business as usual is not a viable option for Australia”. The Commission of Audit’s much anticipated recommendations released today are significant and fundamentally rework access to the age pension, access to health care, family benefits, and the efficiency of Government and the services it delivers. …

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  • ATO App for small business

    The ATO has developed an app for small businesses which allows you to access ‘Small Business Assist’, useful calculators and tax information when on the move. Download the app here.

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  • ATO reviews approach to SMFSs as popularity grows

    The ATO have announced that there will be a heavier focus on working with trustees of SMSF’s and their advisers to improve compliance with the governing rules and regulations, and to prepare the SMSF industry for regulatory changes that may take effect next year. The government …

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  • Are you ready for Superstream?

    A new data and e-commerce standard is being introduced to make it possible for employers to send contributions to all funds in one standard electronic format. In future, you will no longer need to provide this information to separate funds in different formats. The standard …

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  • If you are an employer make sure you are ready

    From 1 January 2014, employer superannuation default funds must be MySuper compliant. MySuper accounts are no-frills accounts with a simple set of product features including low fees, and a single diversified investment option. Default funds are funds that employers nominate and pay superannuation contributions into, …

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  • Reminder regarding registering interest in goods on the PPS register

    As highlighted in previous news items, the Personal Property Securities Act (PPSA) came into effect on 30 January 2012 as a means of regulating the practice of providing security over eligible personal property.  The Act introduces the Personal Property Securities Register (PPSR) and from 30 …

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  • Check whether communications you receive from the ATO are genuine or spam

    Check whether communications you receive from the ATO are genuine or spam In an attempt to commit fraud scammers continue to pretend to represent the ATO in emails that request personal information and credit card details. The ATO has created a reference page on their …

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  • Small Business Asset Write-Off Changes – Get in Quick!

    During the recent Federal Election campaign the Coalition announced that, if elected, it would make the small business asset write-off rules less generous as follows: $6,500 Instant Asset Write-Off – will be reduced to the prior rate of $1,000 $5,000 Vehicle Write-Off which allows small …

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  • New ATO spam email alert

    Yet another ATO spam email is doing the rounds, claiming that the email recipient has a tax refund owing to them and that it will be deposited to their bank account once certain personal details are disclosed. The email origin is refund@ato.gov.au and the email …

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