by Affinity | May 1, 2014 | Business eNews
The ATO has cautioned Trustees of Self Managed Superannuation Funds (SMSFs) about new penalty provisions that are coming into play on 1 July. Newly enacted legislation will apply to impose penalties on Trustees for contraventions occurring in their super fund...
by Affinity | Apr 30, 2014 | Business eNews
Over the years business owners have caught on to the amount of value that resides in the people that work in their business, and the amount of damage those people can do when they leave. Post-employment restraints were, at one time, usually seen only in...
by Affinity | Apr 30, 2014 | Business eNews
This case involves a taxpayer being penalised with excess contributions tax (ECT) because payments that his bookkeeper was supposed to make in the 2009 and 2011 years inadvertently all ended up in the 2010 year. As is often the case with ECT, this was not a positive...
by Affinity | Apr 30, 2014 | Business eNews
To help grow Australian workers’ savings for retirement, the compulsory super guarantee rate will gradually increase from 9% to 12%. When you make super payments on behalf of your employees based on the minimum 9.25% super guarantee rate, you will be required...
by Affinity | Apr 30, 2014 | Business eNews
FBT Rate – 2013/14 & 2014/15 The FBT rate of tax has been increased by half a percent from 1 April 2014. The new rate of tax and the consequent increased gross-up rates follow: FBT Year Ended Rate of Tax 31 March 2015 47.0% 31 March 2014 46.5% ...
by Affinity | Apr 30, 2014 | Business eNews
If you or a family member can no longer manage to live independently at home, you may need to consider moving into residential aged care. Before you do, there are many factors to consider, including your eligibility, the costs involved and the effect on your finances...
