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This article is originally published on SMSF magazine Downsizer contributions can be used strategically to generate favourable SMSF outcomes distinct from the ability to allocate more money into the superannuation fund, a retirement savings specialist has said. According to Tax and...

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March 31 marks the end of the 2021/2022 fringe benefits tax (FBT) year which commenced 1 April 2021. It’s time now for employers and their advisors to turn their attention to instances where non-cash benefits have been provided to employees,...

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April 2022 Newsletter
As an election looms, the Treasurer took few risks with the budget. The profession reacts to the headline measures. Training and technology: $120 tax deduction for every $100 spent on digital technology or training by small business  “The main headline...

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TPB: Support extended for practitioners affected by COVID The Tax Practitioner’s Board has announced that due to the ongoing impacts of COVID-19, it has extended many of its temporary concessions to assist practitioners meet their ongoing obligations. These are: the...

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Federal Government: Tax relief for flood-affected communities The Federal Government has announced it will provide immediate tax relief to affected communities. In particular, taxpayers in flood-affected areas will be provided with any additional time they need to meet any upcoming...

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High Court refuses leave in Greensill case The High Court has refused the taxpayer’s application for special leave to appeal from the Full Federal Court in the decision in Peter Greensill Family Co Pty Ltd (Trustee) v FCT [2021] FCAFC 99. In that case,...

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Qld Payroll tax: discretion to exclude from “grouping” Queensland Treasury has issued Public Ruling PTA031.3 Commissioner’s discretion to exclude from a group.  It explains the discretion available to the Commissioner under s 74 of the Payroll Tax Act 1971 (Qld) to exclude an...

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The submissions made by Tax and Super Australia, and those we make with selected joint parties, are an important aspect of the advocacy work that we do for our members as we strive for favourable outcomes for the industry. Below...

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Several superannuation proposals announced in the 2021 Federal Budget were introduced into Parliament in the Treasury Laws Amendment (Enhancing Superannuation Outcomes for Australians and Helping Australian Businesses Invest) Bill 2021. This Bill has passed both houses of Parliament without amendment and...

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In the May 2019 Federal Budget, the Government announced that Single Touch Payroll (STP) would be expanded to include additional information, building on the first stage of STP which was made compulsory for most employers from 1 July 2019. For...

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February 2022 Newsletter