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June 2016 Newsletter
It's a new financial year, and with that we take a deeper dive into the superannuation changes that were announced in the most recent Federal Budget and look at why, collectively, they are bad for all superannuation members, not just the wealthy. Plus we remind you that the company tax rate for small businesses (which will include a lot more companies now) has been reduced from 1st July.
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April 2016 Newsletter
Been hearing a lot about cloud accounting lately? What's the latest state of play? We review a few of the options available and compare the costs and benefits. We also remind you that the final SuperStream implementation date for employers is just around the corner, and take a look at yet another creative data-matching measure recently implemented by the ATO.
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2016-17 Federal Budget
In a break from the trend of past years, the Government kept many of this year's Budget measures under wraps until Budget night. There was a lot of speculation leading up to last night's announcement, and relatively few leaks beforehand. As it turns out, there was a lot in it, including a number of welcome measures for small business - part of a package intended to help Australia transition from being a mining-led economy to something more diverse. The Budget also announced some of the most significant changes to Superannuation in the last decade. However, those interpreting the Government's recent silence on tax reform as a strategy to build anticipation for a 'rabbit-from-the-hat' reveal on Budget night will be disappointed. Overall, this Budget is far more about simple tax changes than tax reform, and in many cases the new measures are distant, and increase complexity and red-tape for those in business.
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