Thinking of a big Christmas party/gift? Think again!
With the silly season fast approaching and the annual Christmas party up and coming, we wanted to bring to your attention some of the tax consequences during the festive period. Along with income tax and GST, there is Fringe Benefits Tax (FBT) to consider and often gets overlooked when providing numerous benefits to employees. FBT […]
Director ID
Director Identification Number A Director Identification Number (Director ID) is a unique identifier that a director applies for once, which then remains with them forever. It is a 15 digit identifier to ensure the verification of a director’s identity with the Australian Government. If you are a director of any company, you will need to […]
Stapled Super Funds
Attention all Employers: Stapled Super Funds From 1 November 2021, if a new employee comes on board and doesn’t choose a superfund, you may need to contact the ATO to request their ‘Stapled Super Fund’ details. Directly from the ATO: ‘A stapled super fund is an existing super account which is linked, or ‘stapled’, to […]
Premier Electrical Services (WA)
“Since making the long overdue switch to Connolly & Assoc we have gained a fountain of experience, know-how and expertise to navigate our business growth in a healthy and sustainable manner. Their fantastic team, headed by Tony has helped light a fire in our belly and we are already seeing the rewards after just 6 […]
Electricity rebate
The WA Government has recently announced another stimulus for small businesses here in WA. A $500 electricity credit is available to eligible businesses and charities for use of commercial premises, including mixed-use with residential property. Unlike the automated credit issued to businesses during COVID last year, an application must be completed and lodged with the […]
Covid – 19 Insurer’s Position
Dear Valued Client, Due to the Covid-19 pandemic In the event that businesses are forced to shut down for a period of time we thought it would be best to explain to you the Insurer’s position in respect of coverage. Business Interruption We have already sent this to a number of clients that have asked […]
CORONAVIRUS STIMULUS PACKAGE
Are you concerned the coronavirus may affect your business? Well, Scott Morrison has unveiled his $23 billion stimulus package which will be released over this and next financial year, with a focus on keeping Australians employed and businesses open.
Inactive Super Accounts
Changes for Inactive Super Accounts The Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019 introduced a new category of accounts known as ‘inactive low-balance accounts’ to automatically consolidate eligible unclaimed super money into eligible active super accounts through the Australian Taxation Office in order to protect their retirement savings from being eroded by fees […]
The End of AUSKEY, and the introduction of myGovID
It is not that daunting! From the end of March 2020, AUSKEY will no longer be available to access government online services such as the Business Portal. There is currently a lot of confusion regarding these government platforms and identification methods. This article will serve as a guide on how to get your myGovID, and […]
Warning – Workers Compensation Responsibilities.
Do you have a valid workers compensation policy? With Single Touch Payroll now in full effect, the ATO aren’t the only government body who are monitoring your business’s payroll data. It was Workcover WA who recently audited a family businesses STP declared wage data, in regards to Workers Compensation compliance. The business employed two minor […]