Compiled by our tax experts the National Tax and Accountant Association (NTAA) 2018 Budget Update The Government handed down the 2018/19 Federal Budget on Tuesday 8th May 2018. Some of the important proposals include: The introduction of the ‘Low and Middle Income Tax Offset’, a temporary non-refundable tax offset of up to $530 p.a. to […]
Compiled by our tax experts the National Tax and Accountant Association (NTAA) Please follow the link: Budget 2018-19 update NTAA
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%.
Super for the self-employed: If you’re a sole trader or a partner in a partnership, you don’t have to make super contributions to a super fund for yourself. However, you may want to consider super as a way of saving for your retirement.