Single Touch Payroll (STP) for Employers

STP is a government initiative which streamlines the reporting of wages, tax and superannuation to the ATO each time a payment is made to an employee. The concessions for STP reporting ends on 30 June 2021. If you have not started reporting through STP you need to...

Increase in Superannuation Contribution Caps

From 1 July 2021, superannuation concessional and non-concessional contribution caps will increase, meaning you will be able to put more money into super. The new caps are as follows.: Concessional Cap $27,500 Non-Concessional Cap $110,000 or $330,000 over 3 years...

Binding Death Benefit Nomination(BDBN)

A BDBN is a legally binding nomination given by a member to the trustee(s) of their super fund which imposes a duty on the trustee to pay their death benefits in accordance with their wishes specified in the notice. In the absence of a valid BDBN, the trustee(s) of...

Tax Deductibility of Finance Advice

Fees paid for obtaining investment advice may or may not be tax deductible. For these fees to be tax deductible the expenditure must be incurred in gaining or producing assessable income. If the fees are not related to a specific investment producing assessable income...