by MRG Redshaw | Dec 14, 2018 | Alerts, Announcements
From 1 July 2017, the Government introduced a ‘general Transfer Balance Cap’ (TBC) of $1.6 million to limit the total amount of capital that superannuation fund members can have in ‘retirement phase’ (where no tax is payable on earnings). In order to monitor the TBC,...
by MRG Redshaw | Dec 14, 2018 | Alerts, Announcements
Single Touch Payroll (STP) for employers with 19 or less employees will commence from 1 July 2019. STP requires employers to report payments such as salaries and wages, PAYG withholding and super information electronically to the Australian Taxation Office (ATO)...
by MRG Redshaw | Dec 14, 2018 | Alerts, Announcements
What is Cloud Based Software? Cloud based software generally runs on remote servers and is accessed via a web browser. Your data is saved in a secure data centre. The main players in cloud based accounting software are MYOB, Xero and Quickbooks. Benefits of...
by MRG Redshaw | Jun 8, 2018 | Alerts, Announcements, Superannuation
Over the past year there have been a number of changes in the world of superannuation which have imposed greater limitations in getting monies into super, however there is one new rule that can help get more into super. For the 2017/2018 financial year, anyone can...
by MRG Redshaw | Jun 8, 2018 | Alerts, Announcements, Tax
From 1 July 2018, purchasers of new residential premises or subdivision of potential residential land are required to withhold GST from the contract price and remit this directly to the ATO on or before settlement. The amount withheld will be 1/11th of the contract...
by MRG Redshaw | Jun 8, 2018 | Alerts, Announcements, Tax
The 2018/19 Federal Budget announcements were wide-ranging and much of the detail has not yet been released. The announcements included: > $20K accelerated depreciation extended until 30 June 2019 for Small Businesses > Introduction of a three-year cycle for...
