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The below contains the payment factors for market-linked income streams contained in Schedule 6 “Payments for market-linked income streams” of the Superannuation Industry (Supervision) Regulations 1994. Note: These payment factors, specified under section 9BA(5), are given effect for social security purposes...

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At the time when the superannuation guarantee amnesty measure ran its course (it expired 7 September 2020), the Assistant Minister for Superannuation Jane Hume reported the amnesty resulted in 24,000 employers coming forward, with about $588 billion paid into nearly...

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HeadSlapHome
You may not get many clients who can use this tax offset, but one day you may very well get one in the door who will appreciate your familiarity with, and knowledge about the application of, the lump sum payment...

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WipeoutHome
Every year, the ATO measures its revenue and compares that total against the amount of revenue it should have made were every taxpayer fully compliant. As you may expect, very often the two numbers are different. And it is this...

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Clients now and then may need to be directed towards the supplementary section of a tax return if they are keen to claim a deduction that does not sit comfortably within the other items that precede it. The supplementary section...

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To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place. This guide includes tax rates, including individual minor and non-resident rates, corporate rates, offset limits and...

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2020-21 Lodgement rates and thresholds
Tax & Super Australia (TSA) welcomes the JobKeeper extension rules released by the Treasurer and the ATO’s early guidance on the rules. However there will still be challenges for businesses and their accountants when trying to determine if their employees...

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AssemblyHome
The ATO has updated its excisable alcohol guidance to absorb COVID-19 circumstances in regard to takeaway beverages. This is in light of some relaxing of state and territory liquor licensing requirements to allow the sale of takeaway alcoholic beverages during...

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GrowlerHome
On 15 September 2020 the JobKeeper 2.0 rules were released. This followed the passing of the Coronavirus Economic Response Package (Jobkeeper Payments) Amendment Bill 2020 which amended various acts to, in part, ensure that the scheme could extend beyond the original sunset...

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SafetyHarnessHome
The ATO has published draft law administration practice statement PSLA 2020/D1 – remission of additional superannuation guarantee charge. With the SG amnesty now expired, so too has the ability of the ATO to remit part 7 penalties in full (which can otherwise amount...

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