Maximum Contributions Base
Employers are required to make superannuation guarantee payments into their employee’s nominated superannuation fund each quarter. The current superannuation guarantee amount is 9.5% of the employee’s annual salary up to a maximum amount of $25,000 per annum. As an aside, this percentage amount is scheduled to increase over the coming years until it reaches a […]
Succession Planning…Not Just an Exit Strategy
Succession planning. For most small businesses uttering the words “succession planning” brings visions of retirement, sale or shutting up shop. But, and this is important, succession planning is not limited to selling or exiting out of a business. The practice of identifying up and coming employees, grooming them for a particular role or simply having […]
Medicare Levy Surcharge…
By Alisa Sainoski Are you single and carefree or do you have a world full of responsibility, caring for children and your significant other. Either way you should be thinking about your health and your families’ health. Looking after your health and wellbeing should be the most important factor in your life but who knew […]
Division 293 Tax
By Alisa Sainoski Dun. Dun. Dun. Dunnn… its Division 293 tax. Division 293 sounds like a nightmare but in reality, it is the harmonisation of the concessional tax treatment higher income earners enjoy on some superannuation contributions. Let’s say you are one of the many lucky people who earns near to or more than $250,000, […]
A Day in the Life of Cryptocurrency
By Alisa Sainoski and Jasmyn Martin-Nicholls Before you jump in the world of Cryptocurrency (Bitcoin, Ether and Litecoin) you should know the positives and negatives of this multi-billion dollar industry. The currency is digital, so there is nothing you can touch or hold. Its value fluctuates in a highly volatile manner. It is created by […]
Are You Safe?
By David Prattent MarketWatch has been doing a lot of glaring and cursing lately; glaring at an unresponsive computer screen and swearing at the NBN. Or the non-NBN more to the point. So while he tries to calm himself and get his blood pressure back to something approaching normal, he has been pondering on his […]
It’s the Most WONDERFUL Time of the Year…!
By Alisa Sainoski It is getting closer and closer to the most wonderful time of the year. Now most of you will be lucky enough to be invited to Christmas parties and receive Christmas gifts but what about the people throwing these exciting parties and giving you those lovely gifts, how does that affect them? […]
7 Must-Do Actions for Every Small Business
So you’ve been in business a while, and whilst it’s ticking along nicely, it’s not quite kicking the goals you had in mind when you first started out. Perhaps you’re continually struggling for cash or you have a high turnover but your profit isn’t as high as you would like it to be or perhaps […]
Ride-Sourcing
By Alisa Sainoski It is no secret that the Australian Taxation Office (‘ATO’) has declared ride-sourcing drivers such as Uber and Ola are to be treated as taxi drivers under Australian Tax Law. In 2017 the courts found in favour of the Tax Commissioner and his definition of the word ‘taxi’ to have it’s “ordinary” […]
The Sharing Economy in the New World
By Alisa Sainoski The sharing economy is economic activity through a digital platform (such as a website or an app) where people share assets or services for a fee. New sharing economy arrangements are coming onto the market regularly and at a rapid pace. A share economy includes the renting out of all or part […]