Tax Compliance Features
Are you aware of the two new incentives that were released in the March Budget? The Skills and Training Boost, and the Technology Investment Boost were both mentioned and released, however they aren’t legislated yet.
From 1 July 2021, the standard Superannuation Guarantee (SG) rate will increase from 9.5% up to 10%. It’s part of the government’s commitment to increase the SG by half a percent each year until 2025, when the SG rate will reach 12%.
Reminder: Changes to the Super Guarantee
The ATO is reminding small business owners to pay the correct amount of superannuation for their eligible employees by the due date to avoid paying the superannuation guarantee charge (SGC).
Delve into the fiscal changes of 2024 as we explore the impact of rising interest rates on Division 7A loans. Learn how these changes affect bank covenants and discover strategies for tax planning. Explore options like dividends, debt-to-equity conversions, and fund procurement, but remember to consult experts for personalised guidance.
The ATO will be ramping up their audit activity in 2023, here’s why you should consider audit shield cover