Stapling of Superfunds: What is it, and what do you need to do?

There’s some new rules coming into effect from 1 November for ‘Stapling’ of superfunds to employees, and as an employer there are a few things you may need to do to get ready. But before we get into that, let’s take a look at what “Stapling” actually is. Put simply, Stapling is an Australian Government superannuation reform that means an existing super account is linked, or ‘stapled’, to an individual employee so that it follows them as they change jobs.

Strategies to increase revenue

We’ve been looking at how visualising your business numbers can help you make strategic decisions in your business. In this article we’re looking at how to decide where you should grow your sales.

How to read the story in your financial data

How to Read the story within your Financial Data

For many businesses, the two major costs they experience are: Cost of Sales and Wages. Understanding how each of these main costs impact your business means that you can make better decisions to move your business to the next level.

small business owner needs single touch payroll

Are you ready for Single Touch Payroll?

Single Touch Payroll (STP) works by sending tax and super information from your payroll software to the ATO as you process each pay-run. Once set up, your payroll processing continues as normal, however the ATO will receive information on salaries, wages, PAYGW and super for your employees.

Understanding Instant Asset Write-Off

If you’re currently in ‘tax-planning’ mode, your accountant has likely mentioned ‘instant asset write-off’ to you. Accountants got a bit excited in early April when the asset threshold for this measure was increased to $30,000 as it extends the types of asset purchases clients can make and fully write-off in the current financial year.

Additional benefits to employees and Fringe Benefits Tax

To keep things interesting the Fringe Benefits Tax (FBT) year ends on 31 March each year with returns due in May. If you’ve provided benefits to employees (including yourself) then you will need to act to ensure you comply with the FBT rules.

Downsizer Super Contributions: Options to Boost your Super

Whilst we were all enjoying the Christmas break, the passing of the downsizer superannuation contribution (DSC) legislation occurred. So what is this additional form of contribution and what are the specific criteria that is required to be met?

New GST Withholding on Residential Property

You may remember as part of the 17/18 Budget the Federal Government announced changes to how GST collected on ‘New Residential Property’ would be passed onto the ATO. Well the exposure draft of the legislation has been released so we now have some more details on the changes the government is looking to make.

2017/2018 Federal Budget Overview

Find out what the 2017/18 Federal Budget means for Individuals, Families and Investors.

2017/2018 Federal Budget – what it means for Superannuation

Find out what the 2017/18 Federal Budget means for Superannuation and SMSFs

Category: Tax & Accounting

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