Understanding the Family Tax Benefit (FTB): Eligibility, amounts, and supplemental support. The Family Tax Benefit is a two-part government payment that assists families with the costs associated with raising children. The first tax benefit, Part A, is per eligible...
Navigating the Super Guarantee Charge: A Comprehensive Guide for Employers. Understanding and fulfilling your obligations related to the employee's super guarantee is vital as an employer. To avoid any extra fees, such as the administration fee or nominal interest for...
Recent ATO guidelines: Section 100A and Family Trust Distributions. What is Section 100A (S.100A)?Section 100A, also known as S.100A, of the Income Tax Assessment Act 1936 is an anti-avoidance rule in Australian tax law. This pertains to a 'reimbursement agreement' in...
What is a Superannuation Standard Choice Form?. Super Choice, short for Superannuation Standard Choice Form, is used to let employers know their employee's selected superannuation fund. Superannuation funds, often referred to as super funds, are a type of fund that...
Understanding Stamp Duty (NSW): A comprehensive guide for property buyers. Stamp duty, or transfer duty, is a tax that most purchasers are obligated to pay when acquiring a residential property or vacant land in Australia, including NSW. The NSW government imposes...
Understanding how to withdraw super. What is superannuation?Superannuation, commonly referred to as 'super,' is a long-term investment designed to provide financial stability during your retirement years. It functions by pooling funds into a super account, which is...
Exploring Small Business Grants NSW. A business grant is money given by the government to help small businesses. This financial help from the government aims to help small businesses expand, develop new ideas, or get back on their feet after tough times. This kind of...
Navigating the Shift from Temporary Full Expensing to Instant Asset Write-Off for the 2024 Financial Year. The impending expiration of the Temporary Full Expensing (TFE) at the close of the 2023 financial year means that businesses will revert to the Instant Asset...
Important Deadline for Director ID. A Director Identification Number (DIN), also known as a Director ID, serves as a unique identifier for individuals serving in director roles within various types of organizations. This identification number is a legal requirement...
