Catch Up Concessional Contributions
June 3, 2021Read moreCatch-up concessional contributions cap How does it work? If you make or receive concessional contributions of less than the annual concessional cap of $25,000 per annum, you may be able to accrue these unused amounts for use in subsequent financial years. Please note the concessional contributions cap is increasing...
00Superannuation Caps are Changing
June 3, 2021Read moreContribution caps 2021-2022 financial year From 1 July 2021, the superannuation concessional and non-concessional contribution caps will be indexed. The new caps will be: Year Concessional Cap Non-Concessional cap 2021-22 $27,500 $110,000 or $330,000 over 3 years The total superannuation balance limit that determines if an individual has...
2021 Notice of Intent to Claim – Super
June 3, 2021Read moreClaiming tax deductions for personal superannuation contributions You may be able to claim a tax deduction for personal super contributions that you made to your super fund from your after-tax income during the 2021 financial year. Before you can claim a deduction for your personal super contributions, you must...
2021 Individual Tax Return Checklist
June 3, 2021Read moreChecklist for individual tax returns This year we are including a checklist as part of preparing and lodging your individual return. The checklist will ensure that key details are reviewed as part of the preparation of your individual return. The checklist will ask a series of questions to ensure...
Single Touch Payroll
June 3, 2021Read moreSingle Touch Payroll (STP) – Are you ready? From 1 July 2021 all amounts paid to closely held payees will need to be reported to the Australian Taxation Office through an STP enabled software. For more information please refer to; https://www.ato.gov.au/business/single-touch-payroll/concessional-reporting/closely-held-payees/ For all employers already reporting via STP, please...