Minimum pension payment changes
Retirees who draw an account-based pension from their super need to be aware that the 50% reduction in the minimum pension drawdown rate for superannuation and annuities which applied for previous years will no longer apply from 1 July 2023. This temporary measure was...
“Buy now pay later” sector facing more regulation
As foreshadowed last year, the “buy now pay later” (BNPL) market will soon be facing more regulation. Assistant Treasurer Stephen Jones recently announced that the government will be moving forward to bring BNPL within the Credit Act’s application to apply a tailored...
ATO Compliance
ATO compliance: economic stimulus measures Businesses that have accessed government economic stimulus measures need to take extra care this tax time. The ATO has announced that it will increase its scrutiny, conducting compliance activity on various economic stimulus...
COVID-19 lockdown support
COVID-19 lockdown support: NSW, Vic and SA If your business or employment income has been affected by recent COVID-19 related lockdowns in New South Wales, Victoria and South Australia, financial help is available from both the state and Federal governments. Depending...