ATO – Superannuation Industry Road Map

The ATO has issued a Superannuation industry road map as an overview of the changes affecting the superannuation industry. The information below sets out key dates, approaches and requirements affecting both employers and the Superannuation Industry. This information, Deployment timelines, details the changes affecting the super industry until the end of March 2021. The ATO intends to update…

Whistleblowers Legislation

Enclosed here-below please find a press release from the ASIC regarding the forced implementation of the Whistleblowers Legislation on Large Proprietary Companies. The Whistleblowers policy does apply to Large Proprietary Companies and an extract of the Regulations relating to Large Proprietary Companies follows below in Italics. Large Proprietary Companies RG 270.6              All large proprietary companies…

GST – Directors Personal Liability

Legislation to allow the ATO to estimate GST liabilities and make director’s personally liable for GST has progressed this week, after having been introduced during the previous parliament and lapsing due to the election. Among a raft of other measures designed to combat phoenixing activity and make resigning directors more accountable, the GST Measures have…

Concessional Contributions Cap

Concessional contributions includes both employer contributions (including contributions made under a salary sacrifice arrangement) and personal contributions claimed as a tax deduction. Concessional Contributions Cap Deduction Limits Income year Date Your age at this date Your concessional contribution cap 2019–20   All ages $25,000 2018–19   All ages $25,000 2017–18   All ages $25,000 2016–17…

Tax Gap Overview

Tax Gap Overview

Much has been said in recent times by the ATO about the Tax Gap Overview and the recent re-focus of the ATO onto the SME sector as a project of fiscal importance. To give our readers an overview of the same we attach here below a point header summary provided to Accountants by the Taxation…

The Commercial Deals Early Engagement Program

The Commercial Deals Early Engagement Program

The Commercial Deals Early Engagement Program The ATO has launched a new Program, The Commercial Deals Early Engagement Program. The ATO is seeking to engage early with privately owned and wealthy groups to offer a pre-lodgement compliance agreement for commercial deals and restructure events. The ATO goes on to define a commercial deal as any…