Insights

As we approach the end of Quarter 3, 2022/23, this is a reminder of the upcoming 28^th April 2023 due date for payments of your mandatory employer Superannuation Guarantee Contributions.

As of 1 July 2022, there are a number of important changes which come into effect impacting employers and the Superannuation of employees.

We would like to extend our thoughts to those facing hardship or who may have been impacted by ex-Tropical Cyclone 'Seth' throughout areas of Regional Queensland.

Under introduced changes by the Australian Business Registry Service (ABRS), effective from 31st October 2021, Company Directors (of all types of companies) will need to register with ASIC and gain a unique 'Director Identification Number' (Director ID) identifier.

The recent NSW Payroll Tax case of Thomas and Naaz Pty Ltd v Chief Commissioner of State Revenue, has raised concern amongst medical practices throughout Australia regarding any impacts it may have for state payroll tax.

As we approach the end of Quarter 3, 2020/21; this is an important reminder of the upcoming 28^th April 2021 due date for payments of your mandatory employer Superannuation contributions.

With businesses now returning to work for 2021 following the Festive/New Year holiday period, a reminder that JobKeeper 2.0 - Phase Two extensions have now taken effect from 4th January 2021 and will run for the period until 28th March 2021.

Prior to 1 July 2020, mandated employer contributions such as Superannuation Guarantee paid into a superannuation account were accepted although, non-concessional or non-mandated contributions made by those aged 65-75 were subject to the “work test”. Effective from 1 July 2020, the Government has abolished the “work-test” for those aged 65 & 66 who make non-mandated contributions (e.g. voluntary contributions) to their superannuation account.

For businesses who have employed new full-time employees over and above their capacity across the 2019-20 & 2020-21 Financial Years, you may be eligible to claim a Payroll Tax - 'Employment Growth Rebate', up to the value of $20,000 per year.