MBR Program: Director ID transitional period draft instruments
April 1, 2021
Treasury has issued 3 exposure drafts of legislative instruments relating to the director identification regime, which forms part of the Modernising Business Registers (MBR) Program.
Th...
Read More Read More
One year deferral – TR 2019/D5 FBT car parking benefits
April 1, 2021
The ATO indicated last year that they intended to publish the final Taxation Ruling TR 2019/D5 Fringe Benefits Tax: car parking benefits prior to 1 April 2021, which was to apply from the ...
Read More Read More
FBT thresholds, lodgment dates and instructions
March 25, 2021
The ATO has issued a worksheet which summarises the FBT rates and thresholds for 2021-22 (ie 1 April 2021 to 31 March 2022). New numbers for 2021-22 include:
record keeping exemption ...
Read More Read More
Single Touch Payroll Phase 2
March 18, 2021
From 1 January 2022, employers will need to start sending additional payroll information through Single Touch Payroll (STP). This is known as the STP expansion, or STP Phase 2.
Join t...
Read More Read More
Modernising Business Registers program: Director ID regime consultation
March 18, 2021
Treasury has issued exposure drafts relating to the director ID regime which forms part of the Modernising Business Registers (MBR) Program. The director identification number (director ID...
Read More Read More
Resigning or removing a company director – changes from 18 February 2021
March 11, 2021
Effective 18 February 2021, amendments have been made to existing legislation on back dating director resignations. ASIC has updated its guidance to reflect that:
ASIC will no longer ...
Read More Read More
CGT small business concessions: property investment companies
March 4, 2021
In Ruling TR 2019/1, the ATO accepted that a company can be carrying on a business even if its activities are relatively limited and consist of passively receiving investment returns or ren...
Read More Read More
2021 FBT Return Lodgement Tips
March 4, 2021
The fringe benefits tax (FBT) year ends on 31 March. Employers who have provided benefits to their employees in the past 12 months will need to:
work out which of these benefits attra...
Read More Read More
Contribution cap will increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021
February 25, 2021
The Contribution caps for both concessional and non-concessional contribution increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021.
The new ...
Read More Read More
Victoria: COVID-19 ‘circuit breaker’ lockdown support
February 25, 2021
Under the Business Costs Assistance Program, eligible small businesses, including sole traders, with an annual payroll of up to $3 million can receive a one-off grant of $2000, whether they...
Read More Read More
