• March15 March 2019

    Labor Pushing For Trust Tax Reform

    A while ago Bill Shorten proposed the implementation of a 30% tax on distributions from discretionary trusts to beneficiaries who are over 18 years of age. RMIT University recently released a report which seemed to show that tax avoidance was a big issue with trusts.  Shadow Treasurer Chris Bowen jumped on this to imply that tax loopholes, of which splitting income with trust beneficiaries was one, were costing the budget “billions of dollars.” It...

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  • February05 February 2019

    Single Touch Payroll

    Employers with 20 or more employees gradually started using Single Touch Payroll (STP) from 1 July 2018, however if passed by Parliament employers with less than 20 staff will be require reporting through STP from 1 July 2019. Single Touch Payroll is a way of sending tax and super information directly to the ATO every time an employee is paid.  Eventually the idea is that businesses will no longer need to provide employees with...

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