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. […]
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 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 […]
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”) […]
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 […]
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 […]
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 […]
This article originally appeared on the ATO website on 19 August 2020. If you run your home-based business as a company or trust, your business should have a genuine, market-rate rental contract (or similar agreement) with the owner of the property. The agreement will determine which expenses the business pays for and can claim as […]
This article originally appeared on the Australian Taxation Office website on the 13th of August 2019. The Federal Court handed down two decisions relating to personal services income (PSI) rules yesterday. Income is classified as PSI when more than 50% of the income received under a contract is for a taxpayer’s labour, skills or expertise. The […]
“Temporary” Apartment Qualifies as Permanent Place of Abode This article originally appeared on Accountants Daily on the 16th of September. The High Court has refused the Commissioner of Taxation’s application for special leave to appeal against the decision of the Full Federal Court’s decision in Harding v Commissioner of Taxation. Big four firm PwC, who acted […]
COL WILSON B.COM, FCPA, REG'D TAX AGENT
KEN LUDEKE FCPA, FCA, REG'D TAX AGENT
Annette Pleavin B.BUS, CPARede Accountants is a CPA Business
Suite 1004, Level 10 "The Rocket" 203 Robina Town Centre Drive Robina QLD 4226
Tel: 1300 399 599
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