2021
2022
ACTP Newsletter – November 2021
2021
New laws to improve the way super is divided in divorce A new law will level up the playing field for divorcing couples to ensure both partners have fair and equitable access to superannuation, particularly during acrimonious family court proceedings. ACTP-November-2021
ACTP Newsletter – October 2021
2021
Compensation payments: Avoiding contribution issues Superannuation fund trustees who receive compensation from financial institutions and insurance providers must consider how receipt of these payments may impact a member’s contribution caps. ACTP-October-2021
ACTP Newsletter – September 2021
2021
How to treat work-related travel and living away from home costs. The ATO has released new guidance to help clarify the tax treatment of costs and allowances incurred when an employee travels – or spends time living away from home – for work. ACTP-September-2021
ACTP Newsletter – August 2021
2021
What the new Your Future, Your Super means for you Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians. The Federal Government says the Your Future, Your Super reforms will help ensure superannuation works in the best financial interests of all Australians by removing unnecessary waste, ...
ACTP Newsletter – July 2021
2021
Avoid common mistakes in your business return, and include appropriate income We know you want to get your tax right, so it may help you this tax time to know how to avoid making what the ATO has found are the most common tax mistakes. To do this make sure you have: declared all income,...
ACTP Newsletter – June 2021
2021
The tax treatment of cryptocurrency Cryptocurrencies, once again surging in popularity, have a unique tax treatment that every taxpayer dealing with cryptocurrency should be aware of. It’s been more than 10-years since the advent of bitcoin and the term “cryptocurrency” entered the public consciousness. However, neither bitcoin nor the many thousands of cryptocurrencies that have...
ACTP Newsletter – May 2021
2021
Federal Budget 2021-22 The Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses. Rather, the Government has decided to put its foot on the accelerator with the hope that the growth in the economy over a long period of time will help to pay...
ACTP Newsletter – April 2021
2021
It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. However some of these amounts may be used in other calculations, and may therefore need to be included elsewhere in your tax.. ACTP-April-2021
ACTP Newsletter – March 2021
2021
Government agencies regularly access data contained in the ABN registration, and where this is not up-to-date the taxpayer may be missing out on stimulus measures, grants, and other government support. Click here to download ACTP-March-2021
ACTP Newsletter – February 2021
2021
The JobMaker Hiring Credit scheme was passed into law in mid- November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 on the labour...
ACTP Newsletter – December 2020
2021
The last Federal Budget carried with it a number of tax changes that were designed to assist the Australian economy recover from the impact of the COVID-19 pandemic. Click here to download ACTP-December-2020
Employers self-audit checklist for busin...
2021
This document is designed to help employers conduct a self-audit of their compliance with certain key requirements set out in the Fair Work Act 2009 and Fair Work Regulations 2009, and associated Acts and Regulations. It is meant for your internal assessment purposes only and not required to be sent back to the Fair Work...
JobMaker Hiring Credit scheme
2021
The JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged 16–35 years. Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. Eligible employers: will be able to register with us from 6 December 2020....
JobKeeper Payment
2021
The JobKeeper Payment scheme is a subsidy for businesses significantly affected by coronavirus (COVID-19). The JobKeeper Payment scheme has been extended until 28 March 2021. From 4 January 2021 to 28 March 2021, the new decline in turnover form to work out eligibility for the second extension period will be available. Existing eligible employers must...
COVID-19
2021
ATO can help you if you or your business are impacted by COVID-19. If you’re worried you won’t be able to pay on time, or you’ve already missed a due date the ATO have a range of options to support you. Information about ATO measures and tailored support during COVID-19 (novel coronavirus) can be found...
ACTP Newsletter – February 2022
2022
Single Touch Payroll 2: The time has come In the May 2019 Federal Budget, the Government announced that Single Touch Payroll (STP) would be expanded to include additional information, building on the first stage of STP which was made compulsory for most employers from 1 July 2019. ACTP-February-2022
ACTP Newsletter – December 2021
2022
Have you obtained your director ID? Make sure you do. The director identification number (director ID) regime is now in place with Australia’s newest company directors having to comply first. Director IDs are a unique 15-digit identifier that a director will apply for once and will keep forever, similar to a tax file number (TFN)....