Semmens & Co News Feed
Super changes to be aware of in 2020
Semmens & Co have documented the latest super reforms and what they mean for employees, employers and retirees.
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Tax Relief and Support For Communities Devastated By Bushfire
The Victorian Government has announced that businesses, families, and individuals in bushfire affected communities will get immediate tax relief, with local people at the heart of the recovery and rebuilding efforts.
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E-Invoicing Coming in 2020
E-invoicing is set to roll out over 2020, with the federal government recently announcing that agencies capable of receiving e-invoices will start paying e-invoices up to $1 million in value within five days or pay interest on any late payments.
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STP Data Expansion
The Government has announced that over the coming four years (commencing 1 July 2019), the Budget will provide $82.4 million to support the expansion of data collected through Single Touch Payroll (STP) by the ATO and enhance data matching capabilities for Commonwealth agencies.
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Staff Payments Over the Holiday Season
Before you break up for the holiday season, take the time to plan ahead for the holiday season payroll and ensure everyone gets paid correctly over the holiday season.
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How to Manage Expansion and Scale Successfully
To ensure a smooth transition through business growth, leaders need to anticipate upcoming challenges around finance, culture, structure, leadership and internal operations.
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New Super Guarantee Exemptions Available from 2020
From 2020, high-income earners with multiple employers can apply to opt out of receiving superannuation guarantee contributions (SGC) from some of their employers, to avoid unintentionally exceeding the concessional contributions cap for the financial year.
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The Gig Economy and Tax
If you’re providing services through the sale of your time, labour or skills via a digital platform for a fee (sometimes referred to as the ‘gig economy’ or just ‘on-demand’), you will need to report this income in your tax return.
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Tax Obligations for the Sharing Economy
The sharing economy is defined as economic activity through a digital platform. If you are a provider of services or assets through a platform for a fee, you need to consider how income tax and, goods and services tax (GST) applies to your earnings.
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Early Engagement with the ATO
If you are an Australian in business, it is good to know that the ATO actively encourages early engagement at those critical moments when significant commercial deals and restructure events are taking place, which may attract different tax treatments.
Read moreThoughts From Our Principals
Mark Semmens
Mark 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 blogs
Daniela Semmens
Daniela 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 blogsContact Us Today
For 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
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