Effective 1 July 2021, employers will be required to increase the minimum superannuation contribution to employees from 9.5% of ‘Ordinary Time Earnings’ (OTE) to 10%.
Read moreYou can use inventory to reduce your business income tax by writing-off obsolete or damaged stock to maximise your tax benefits.
Read moreSuperannuation is widely regarded as the most tax-effective vehicle for retirement savings. The ATO has recently published the key superannuation rates and thresholds for the 2021–22 year.
Read moreDespite a drop in business confidence with the expiration of JobKeeper, NAB’s monthly business survey reported the best operating conditions on record.
Read moreASIC staff will begin moving to the ATO as the government prepares for the imminent rollout of the new Director ID regime.
Read moreMandatory STP Phase 2 will commence from 1 January 2022, as the government looks to reduce the reporting burden for employers who are required to provide employee information to multiple agencies.
Read moreThe JobKeeper scheme’s comes to an end on the 28 March 2021 and we’ve compiled responses to your frequently asked questions.
Read moreThe ATO has confirmed that as of 1 July 2021, Single Touch Payroll (STP) reporting for closely held payees will commence, after having granted these employers a one-year exemption.
Read moreBusiness owners can use the basic method to calculate fuel tax credits for diesel used in heavy vehicles, if you claim less than $10,000 each year.
Read moreCPA Australia believes that snap lockdowns will continue to wreak financial havoc for businesses across Australia unless a national safety net is developed.
Read moreMark is a Chartered Accountant with a wealth of experience in accounting and taxation. Mark is a Member of Chartered Accountants Australia and New Zealand, the Tax Practitioners Board and the National Tax and Accountants Association.
Mark's blogsDaniela Semmens is a Co-Director of Semmens & Co. and joined the company as General Manager in 2017. Daniela is an Affiliate Member of Chartered Accountants Australia and New Zealand and also a Member of the Australian Institute of Project Management.
Daniela's blogsFor any enquiries into our team or our services please contact Semmens & Co. via email at info@semmensco.com.au or call us on 03 8320 0320