Compiled by our tax experts the National Tax and Accountant Association (NTAA Big changes proposed to eligibility for the CGT SBCs The Treasurer has released draft legislation containing new “integrity improvements” to the CGT small business concessions (‘SBCs’) (i.e., including the 15-year exemption, the retirement exemption, the 50% active asset reduction and the small business […]
November 20th 2017 Contributed by Andrew Henshaw and Rajan Verma, Directors of Velocity Legal Ordinarily, vendors pay GST on the value of the taxable supplies that they make. Vendors will sell goods or services for a price that includes a GST component. When it comes time to lodge their BAS, the vendor will then pay […]
Compiled by our tax experts the National Tax and Accountant Association (NTAA). February 2018 Further ‘affordable housing’ measures passed Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS), and also allowing older Australians to ‘downsize’ and then contribute the proceeds […]
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Calculating how much to pay: To work out how much super you have to pay for each of your employees, multiply their ordinary time earnings for the quarter by 9.50%.