Tax consequences of failing to pay employees superannuation on time

In Australia, when employees earn $450.00 or more per month, the general rule is that the employer must pay superannuation for their employees at a current rate of 9.5% on ordinary wages. This amount is called a “super guarantee” and is calculated per quarter, with the due date being the 28th of the month after… Read More Tax consequences of failing to pay employees superannuation on time

Ways to save for your retirement with the Government’s $500 Super Co-contribution

Welcome Everyone to 2017! Wishing you all a productive and successful year! The New Year is a great time to look at your tax situation and speak with your accountant and/or financial advisor in order to generate wealth strategies for the future. Considering the financial year ends on 30 June 2017, you have about 6 months left… Read More Ways to save for your retirement with the Government’s $500 Super Co-contribution

Watch out for tax refund scams this Christmas season

Christmas is a time where people are more conscious of their cashflow and therefore, may be vulnerable to money scams. Beware of emails, SMS’s or phone calls claiming to be from the Australian Taxation Office (ATO) offering to give you a tax refund, or threatening to fine you a huge amount for not responding. Here are… Read More Watch out for tax refund scams this Christmas season

Reasons why you should notify the ATO of your change in address

It’s important to call and notify the Australian Taxation Office (ATO) of your new address as soon as possible so that any confidential tax letters can be mailed to the correct address. These letters are likely to contain your Tax File Number and other personal information so updating your address is vital to minimise the possibility of identity… Read More Reasons why you should notify the ATO of your change in address