Capitaleyes Latest Accounting News

Cost of retirement up in December quarter

  The cost of retirement for Australians has gone up, with the increases in health insurance and domestic holiday prices, according to the Association of Superannuation Funds of Australia’s (ASFA) latest figures.  
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‘Much more complex’: ATO introduces new partnership profit guidelines

  The Tax Office has released long-awaited partnership profit guidelines, three years after it first commenced a review of how professional firms engage in income splitting.  
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Government mulls HECS-style business loans

  A HECS-style loan scheme for businesses, currently being considered by the Treasury, would provide a lifeline for many industries recovering from the economic shock of COVID-19, says the small business ombudsman.  
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Industry pressure forces ATO’s hand on STP deadline

  The Tax Office has agreed to push back the start date for the second phase of Single Touch Payroll after intense pressure from all corners of the profession.  
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$36bn withdrawn from super during COVID-19

  The latest report from the Australian Prudential Regulation Authority (APRA) has revealed that workers withdrew more than $36 billion from retirement funds through the early release of super.  
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ATO opens claims for first JobMaker quarter

  The first claim period for the JobMaker Hiring Credit scheme is now underway, with the ATO reminding employers that they could receive up to $10,400 for each eligible employee hired.  
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Small businesses urged to register assets before insolvency explosion.

  The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell says it is essential for small business owners to secure their assets and business loans, with economists predicting a steep rise in insolvencies this year.  
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JobMaker Resources – ATO

  All our key resources for the JobMaker Hiring Credit scheme.  Included are a User Guide, four Factsheets, Information, a Payment Estimator, and a video.    
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2020 is coming to an end. Phew!!

  Some fireworks and a great Advent Calendar to help you celebrate.  On behalf of all our staff we wish our clients and their families a Merry Christmas, a Happy New Year and a great holiday period.  
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Businesses not meeting obligations warned as ATO restarts compliance programs

  The ATO has warned businesses not staying up to date with their obligations that it may impact their eligibility for future stimulus measures, as the Tax Office readies to recommence its work to address key risks to the tax and super system.  
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Part 3 – Budget reminders. Under the Hood.

  The 2020 Federal Budget was one of the most far reaching and complex ever brought in.  This is the first of three articles to remind us of important topics the budget addressed.   
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How Australians are taking advantage of income tax cuts

  New research has offered insight into how Australians intend to save the gains generated from income tax cuts rolled out in this year’s federal budget.  
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Phone: 02 9568 5555
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