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Fringe Benefit Tax - 2021 Insights & Updates

As we begin the 2021 Fringe Benefit Tax Year, it is important for SME businesses to continue to maintain their tax obligations - staying current and compliant during the especially unique time.

+ Apr 19, 2021

SME Recovery Loan Scheme | What You Need to Know about the Extended Scheme

To help continue to support businesses impacted by the Coronavirus pandemic and those in flood-affected areas following the conclusion of JobKeeper support, the Federal Government has earlier this month announced its SME Recovery Loan Scheme – an extension of the previously released “SME Guarantee Scheme”.

+ Apr 16, 2021

Have you paid your mandatory Employer Superannuation payments ahead of the end of Quarter 3, 2020/21?

As we approach the end of Quarter 3, 2020/21; this is an important reminder of the upcoming 28th April 2021 due date for payments of your mandatory employer Superannuation contributions.

+ Mar 11, 2021

Building Your Business - Podcast Series | The Importance of Estate Planning - Understanding the Fundamentals & Foundations

The official Archer Gowland Redshaw Building Your Business podcast is back for its second season. Across the series, the AGR Leadership team: Ian Walker, Smiljan Jankovic and Valda Glynn are joined by a range of business leaders, C-Suite and Senior Management professionals as they discuss and provide their insights on the important topics relevant to business owners associated with growing & maintaining their business.

+ Feb 17, 2021

Fuel Tax Credits - New Credit Rates Update | February 2021

For businesses managing a vehicle fleet, the Fuel Tax Credits system can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that’s included in the price of fuel.

+ Feb 09, 2021

JobKeeper 2.0 - Phase Two Now in Effect: 4th January 2021 - 28th March 2021

With businesses now returning to work for 2021 following the Festive/New Year holiday period, a reminder that JobKeeper 2.0 - Phase Two extensions have now taken effect from 4th January 2021 and will run for the period until 28th March 2021.

+ Jan 15, 2021

Have you paid your Superannuation Guarantee Payments Due 28 October 2020?

Following the end of the legislated Superannuation Amnesty Period which ran to 7 September 2020, the ATO released a draft Practice Statement (PS LA 2020/D1) to provide guidance to ATO staff in relation to Part 7 penalties on late Superannuation Guarantee Charge (SGC) Payments. It notes that where SGC is paid late (i.e. after the 28th day of the month following the end of the quarter) there will be a minimum penalty of 100% of the SGC amount and a maximum of 200%. The ATO staff will not have discretion to reduce the penalty below 100% where the employer hasn’t voluntarily come forward to lodge an SG Statement prior to any ATO compliance action.

+ Oct 26, 2020

Superannuation Contributions | What do the Changes to the Work Test Mean for those Aged Under 67?

Prior to 1 July 2020, mandated employer contributions such as Superannuation Guarantee paid into a superannuation account were accepted although, non-concessional or non-mandated contributions made by those aged 65-75 were subject to the “work test”. Effective from 1 July 2020, the Government has abolished the “work-test” for those aged 65 & 66 who make non-mandated contributions (e.g. voluntary contributions) to their superannuation account.

+ Oct 21, 2020

Federal Budget 2020/21 - Overview & Understanding the Federal Government's Economic Recovery Plan

On Tuesday, 6th October, Federal Treasurer Josh Frydenberg handed down the 2020/21 Federal Budget, outlining a further $98 billion in financial economic support, however acknowledging a $200 billion deficit – the biggest since World War II.

+ Oct 14, 2020

JobKeeper 2.0 | Legislation passes Parliament - What Are the New Changes?

Parliament has signed-off on the JobKeeper 2.0 extension, which introduces a new fortnightly payment scheme for participants from 28 September 2020 to 28 March 2021.

+ Sep 23, 2020
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