News

The government has created a new opportunity for some recent retirees to make additional superannuation contributions. From 1 July 2019, a 12-month exemption from the “work test” for newly retired individuals aged between 65 and 74 years with a total superannuation balance below $300,000 means...

The government is simplifying the Division 7A rules that govern deemed dividends, proposing a new 10-year loan model for compliant loans to start 1 July 2019. Significantly, companies with existing loans would be forced to transition to the new model, which also includes a considerably...

Combating the black economy has been a key priority of the government in recent years. To reduce business activity that takes place “under the radar” of the tax system, new laws commencing on 1 July 2019 will prevent businesses from claiming deductions for payments to...

A continuing problem for businesses is how to keep your customer satisfied so that you're discouraging them from taking their custom elsewhere. It is generally accepted that today it is harder to retain customers because they have more choices than customers had in the past. There are...

A number of small or medium-sized enterprises have already raised capital under the Australian government’s Crowd Sourced Funding Equity Raising Amendments to the Corporations Act. The government has appointed seven Intermediaries (businesses with Australian Financial Services Licenses) to act as the “gatekeepers” for the legislation and...

The ATO has begun issuing determinations for individuals who exceeded their concessional super contributions cap in 2017-18. Concessional contributions include all employer contributions, such as the 9.5% superannuation guarantee and salary sacrifice contributions, and personal contributions for which a deduction has been claimed. A higher...