Latest News

The Stimulus Package: What You Need To Know

  The Stimulus Package: What You Need To Know The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy. Please be careful, as […]

NOW IS THE TIME TO IMPLEMENT PROCEDURES TO PROTECT YOUR BUSINESS

  We’ve all heard of the Coronavirus that originated in Wuhan, China. But have you thought about how to protect your business if you need to comply with self-quarantine advice? If any member of your team is forced to self-quarantine and to work remotely, will your IT systems, processes and infrastructure cope? Now is the […]

Tax Office insurance data haul to capture ‘ordinary’ taxpayers

The ATO’s pursuit of policy details from insurers is a “tried and tested way” of catching wealthy tax cheats, but its wide net could mean ordinary taxpayers get caught too, warns an accounting network. The Tax Office has recently announced it would request to receive a further five years’ worth of policy information from over […]

Is your business ready for the changes to annualised salaries?

In 2019 the Fair Work Commission handed down a decision imposing significant new obligations on employers paying annualised salaries under a number of modern awards. Annual salary clauses in 19 awards have been amended and the terms will be inserted into three additional modern awards. A list of the effected awards is set out below. […]

SMSFA calls to reinstate higher contribution cap for over 50s

The SMSF Association has called for the reinstatement of the $35,000 concessional contributions cap for over 50s, arguing that the current $25,000 cap restricts fund members from contributing to their super at the age where they can most afford to do so. In its submission for the 2019 federal budget, the association said the current […]

Debate heats up around $10k cash ban bill

Debate heats up around $10k cash ban bill Concerns around a bill that will criminalise business cash payments above $10,000 continue to be raised as the industry waits on a parliamentary committee’s final report. A total of 2,659 submissions were received by the Senate Economics Legislation Committee in the course of its inquiry into the […]

Legislation has been passed in Parliament to include GST in the Director Penalty Notice regime and is effective from 1 April 2020.

Following on from our email of last week, a Director Penalty Notice (“DPN”) is a notice the Australian Taxation Office can currently send to a Director that can make you personally liable for: Pay As You Go (“PAYG”); and Superannuation Guarantee Charge (“SGC”) And from 1 April, you can add Goods and Services Tax (“GST”) […]

CRITICAL DEADLINE

There is a proposed legislation before the NSW parliament seeking to amend legislation relating to stamp duties and land tax. How does this impact Discretionary Trusts? Under the relevant Acts, a foreign trustee will be liable to pay surcharge transfer duty and surcharge land tax (2%) on the acquisition of and holding an interest in residential […]

Rede Listed In The AFR Top 100 Accounting Firms In Australia

The Australian Financial Review Top 100 Accounting Firms in Australia for 2019 has been released and Rede Accountants are very proud to announce that we have been named on the Australian Financial Review Top 100 Accounting Firms for the second year running! To say we are proud to be included on the Australian Financial Review […]

New Gift Card Laws

This article originally appeared on the Australian Consumer Law website. The Australian Consumer Law (ACL) has been amended to provide protections for gift card consumers across Australia. These national changes apply to gift cards supplied to consumers on or after 1 November 2019. Cards and vouchers sold before 1 November 2019 continue to have the […]

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