The (extended) Bottom Line of the Federal Budget 2021-22

Federal Budget 2021-22 Building a healthy recovery The October 2020 Budget was a stimulus Budget designed to soften the blow of COVID-19-related impacts for Australians. Now 6 months on and the report card is largely positive.  Economically we are in a much better position than the Government’s forecasts in October last year. The focus of the…

The Bottom Line of the Federal Budget 2021-22

Federal Budget 2021-22 The October 2020 Budget was a stimulus Budget designed to soften the blow of COVID-19-related impacts for Australians. Now 6 months on and the report card is largely positive. Economically we are in a much better position than the Government’s forecasts in October last year. The focus of the 2021-22 Federal Budget…

Payroll Prices Reduced!

We have recently reviewed our Payroll pricing, and REDUCED our prices! We are constantly reviewing our services and prices to keep up with the services our clients need, and the changing demand of our world. Because we have been using Xero for many years, work with systems to streamline your Payroll Processing, and with the…

Bad super funds are named and shamed by APRA’s heat map

The blowtorch has been applied to bad MySuper superannuation funds with the launch of a new colour coded heat map from the superannuation fund regulator, APRA. APRA’s heat map makes it easier for superannuation fund members to identify superannuation funds with high fees and chronically low investment returns. There are currently around 100 MySuper funds but it…

Investment diversification requirements for SMSF strategies

Extracted from article in the ATO Newsroom 20 Aug 2019 At the end of August 2019 the ATO will send letters to approximately 17,700 self-managed super fund (SMSF) trustees and their auditors where the ATO believe the SMSF investment strategies may not meet the diversification requirements under regulation 4.09 of the Superannuation Industry (Supervision) Act…

Tax office warning: three dodgy SMSF schemes to avoid

by Mark Chapman of Money Magazine, February 28, 2018, 8:30 am The tax office keeps a close eye on artificial tax schemes. It has highlighted a trio of arrangements aimed at those who are nearing retirement and have a self-managed super fund. They should avoid the following: • Artificial arrangements involving SMSFs and property development ventures, involving the…