The Federal Government intends to align genuine redundancy and early retirement scheme payments with the Age Pension qualifying age.
From 1 July, a new 12-month exemption from the work test for new retirees aged 65–74 with total super below $300,000 will give many older Australians extra time to boost their super.
The Federal Government intends to make it easier, cheaper and quicker for small businesses to resolve tax disputes with the ATO.
Homeowners may have to pay CGT where there is a formal agreement for a family member to reside in their home; the Board of Taxation will review this treatment.
An electronic information-sharing mechanism to allow super assets to be more swiftly and accurately identified during family law proceedings.
The ATO has warned taxpayers and their agents to be on high alert for tax scams.
The ATO has issued guidance to provide information about how the First Home Super Saver and downsizer contribution schemes work.
Despite wide publicity on the issue, the ATO has reminded taxpayers that it is increasing its scrutiny on work-related expenses. Last year over 6.3 million people made a work-related expense claim for clothing and laundry expenses, totaling almost $1.8 billion.
If you are aged 65 or over, your home is your main residence for CGT purposes and you have owned it for a minimum of ten years, you could benefit from new draft legislation.
A warning has been issued from the Actuaries Institute that tens of thousands of self-managed super funds (SMSFs) could be at risk of incorrectly claiming exempt current pension income (ECPI) under the ATO's approach to segregated current pension assets.
Australian Prudential Registration Authority (APRA) has written to RSE licensees setting out its approach to the Government’s super system reforms aimed at enhancing APRA's prudential powers to improve member outcomes.
Learn more about the Encouraging Entrepreneurship and self-employment initiative!
Are you a young Australian with a great business idea? If so, our friends at the Department of Employment have launched the Encouraging Entrepreneurship and Self-Employment initiative to help young Australians start and run their own business!
Are you struggling to motivate your employees? Do you constantly chase after them to get their timesheets in on time or wonder why they aren’t more focused or driven? Is absenteeism, poor morale and failure to meet targets a common occurrence?
The level of employee retention within a business is always a good testament to the management team.