Super Amnesty to close 11.59pm on 7 September 2020

Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 1to “self-correct” under a new amnesty.

The super guarantee (SG) amnesty is a one-off opportunity to correct past unpaid SG amounts. Employers have a six-month window, until 7 September 2020, to disclose, lodge and pay unpaid SG amounts for their employees.

What now? Where to get help if you need it


Help for business JobKeeper 2.0 The Government has announced further changes to the JobKeeper scheme. The good news is that employees that missed out on JobKeeper because they were not employed on 1 March 2020 might now be eligible. The proposed changes would enable employees employed on 1 July 2020 to receive JobKeeper payments from … Read more

Complete Covid-19 Guide to Stimulus and support Measures as at 6th April 2020


Hang in there  We’ve designed this guide as a quick reference to the COVID-19 related tax and financial support that might be available to you. It’s quiet comprehensive, but care needs to be taken and you should consult your accountant when making decisions. The Government has flagged that more support is coming and we will keep … Read more

Stimulus #2 – Bigger, better and far more impact


The Second $66.1 bn Stimulus Package: What You Need To Know The Government yesterday released a second, far-reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are … Read more

What is your Continuation Plan?


Today we put out our live video to help clients connect and take action to get their house in order. It’s important to get off on the right foot, “Most people aim at nothing – and they hit it with alarming accuracy.” The Business Edge Accountants team are here during these difficult times to support and … Read more

Superannuation Guarantee Amnesty now law


The long-awaited superannuation guarantee amnesty passed Parliament late last month. Employers who have fallen behind with their SG payments now have 6 months to ‘self-correct’ under the amnesty. But, with the amnesty comes additional penalties if employers fail to take advantage of this one-off opportunity. The Bill containing the one-off superannuation guarantee (SG) amnesty has … Read more

Towards Zero Interest Rates (and what it means to you)


The Reserve Bank of Australia is widely tipped to reduce interest rates again to historic lows. Easton Wealth economist Emmanuel Calligeris explores the impact. Australia and world volatility The ongoing trade war between the US and China has dominated financial market movements recently. The last two trading months have seen increased market volatility. In July, … Read more

Report PAYGW Correctly to Claim Tax Deductions


From July 1 2019, If you don’t meet PAYG withholding obligations for your workers, by not withholding tax from their payments and not reporting it to the ATO, you could lose your tax deduction. This will apply to income tax returns lodged for the 2020 financial year and beyond. If you withhold tax from payments … Read more

2019 Financial Statements & Business Tax Returns Year End


To assist us in preparing your 2019 Financial Statements and Income Tax Returns, we have a Year End Questionnaire here. It is important that your records are complete and that any supporting documentation is included before forwarding to us. Filling in the questionnaire will help you identify transactions and any accounting issues that may arise … Read more

Keeping on top of small business cash flow


Why are people losing sight of cash flow? Everyone knows a business needs to stay in the black. It’s not a new idea. So it can be hard to imagine why a business would lose sight of cash flow. Until you’re in business yourself and you realise tracking small business cash flow isn’t as easy … Read more