The Australian Tax Office is implementing a new requirement on businesses with regard to employees' super funds. As of 1 November 2021, businesses will have an extra step to take for new employees who don’t choose a super fund, requiring that the individual's ‘stapled super fund’ details are requested from the ATO. A stapled super fund is an existing super account of an employee which follows them as they change jobs.
IN THIS ISSUE: Tax consequences of cryptocurrency - Record keeping tips for your next tax return - New reporting regime for share economy - What to avoid doing when making car-related tax deductions on your tax return
IN THIS ISSUE: Why too many super contributions could mean extra tax for you - Explaining the income and the assets tests - Why paying tax now is better than incurring expenses later on - Protecting your finances from the unexpected.
NewAccess for Small Business Owners is a free and confidential mental health coaching program that uses Low-intensity Cognitive Based Therapy (LiCBT) to recognise the way we think, act and feel. You will have a coach to help you tackle unhelpful thoughts and behaviours, using an individual plan that you develop together.
If your business has been impacted by COVID-19 there may be funding available for you. Read here for the most up-to-date list of recently announced Government grants available to Victorian businesses, and existing grants still open for applications.
Don't hesitate to reach out when you're ready to start the conversation; our financial planners, accountants and administrators are waiting and ready to help grow and protect your future. The next move is yours...
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