ATO Resumes Debt Collection
Businesses struggling with tax debts have been urged to re-engage with the ATO as it pledges not to “destroy the very thing that the ATO have been trying to support” throughout the pandemic.
HomeBuilder Construction Deadline Extended
The federal government has extended the deadline to begin construction under the HomeBuilder grants program by an additional 12 months.
ATO Launches New Tax Residency Data-matching Program
The Department of Home Affairs will now provide the ATO with arrival and departure records of travellers to and from Australia for the 2016–17 to 2022–23 financial years.
Carry-forward Unused Superannuation Contributions
From 2019-2020, carry-forward rules allow you to make larger concessional contributions if you haven’t used all of your concessional cap in an earlier year, without having to pay extra tax.
Boosting Apprenticeship Commencements Program
Under the Boosting Apprenticeship Commencements Program, employers may be eligible to receive a wage subsidy if they employ an Apprentice.
Director ID Deadline – YOU CAN’T HIDE BEHIND THE MASK
The new dates have been announced as the government looks to introduce the director ID regime to prevent illegal phoenixing by ensuring directors can be traced across companies, while also preventing the use of fictitious identities.
Super Contribution Caps Set To Increase From 1 July 2021
From 1 July 2021, the concessional and non-concessional contribution caps are set to increase due to indexation for the first time ever since July 2017.
Alert Over New TFN Scam
The ATO are receiving increasing reports of people losing money to automated phone scams.
Business Advisory Services Program
We are thrilled to announce that Henson Lloyd Accountants, has been approved as a provider of the SME Business Advisory Services Program run by the Department for Innovation and Skills.
JobMaker Hiring Credit
The JobMaker Hiring Credit will give businesses incentives to take on additional young job seekers. Employers do not need to satisfy a decline in turnover test to be eligible.