With most tax professionals now returning to work after the holiday break, this is the ideal time to do a stocktake of the status of recent tax, superannuation and related Bills which may affect tax practitioners and their clients in 2021. This article...
Superannuation articles.
‘Carry forward’ concessional contributions cap
Aug 20, 2019 | News, Superannuation
Background The measure to allow individuals to carry forward their unused concessional contributions (‘CC’) cap from previous financial years to a later year (‘the carry forward rule’) was announced on 3 May 2016 as part of the Government’s Superannuation Reform...
The post-election landscape
May 29, 2019 | Federal Election, Federal Budget, News, Parliament, Small Business, Superannuation
Background The Federal Election held on 18 May 2019 returned a Coalition Government with a majority in the House of Representatives (although counting continues in some seats). At the time of writing, one seat remains in doubt. Following the dissolving of...
Labor’s tax and superannuation policies
Feb 1, 2019 | News, Superannuation
Note: This blog article was edited on 17/04/19 to include recent developments. Timing of election This year, Australian voters will elect members of the 46th Parliament. According to s. 28 of the Commonwealth of Australia Constitution Act, an election for...
The SG Amnesty: What should employers do?
Sep 14, 2018 | News, Superannuation
There is much confusion among tax practitioners and their clients regarding the proposed Superannuation Guarantee (SG) Amnesty, which is intended to run for 12 months from 24 May 2018 to 23 May 2019. However, the SG Amnesty measures are not legislated yet...
SG Amnesty: Q&A
Aug 14, 2018 | News, Superannuation
Background On 24 May 2018, the Government announced a one-off, 12-month Superannuation Guarantee Amnesty (the Amnesty), and introduced legislation into Parliament, which allows non-complying employers to self-correct any unpaid superannuation guarantee (SG)...
Multiple Employers, SG and the Concessional Contributions Cap
Jul 12, 2018 | News, Superannuation
Schedule 2 to the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 proposes to amend the Superannuation Guarantee (Administration) Act 1992 (SGAA) to allow individuals to avoid unintentionally breaching their concessional contributions...
Unenacted Tax Measures at 30 June 2018: Bills Wrap Up
Jul 6, 2018 | News, Parliament, Single Touch Payroll, Superannuation
In wrapping up the Autumn session of Parliamentary sittings, the Senate adjourned at 8.17 pm on Thursday 28 June 2018 until Monday 13 August 2018. At the close of Parliament, surprisingly and disappointingly, the backlog of highly anticipated tax bills was...
The New Superannuation Guarantee Amnesty
Jun 13, 2018 | News, Superannuation
On 24 May 2018, the Government announced a one-off, 12-month amnesty (the Amnesty), and introduced legislation into Parliament, which allows non-complying employers to self-correct any unpaid superannuation guarantee (SG) amounts dating back to 1992. This...
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