Smith Feutrill Insights
Financial news, expert tips, insights, and our latest updates.
Closely held payees exemption to be extended
Employers with 19 or fewer employees are temporarily exempt from reporting ‘closely held (related) payees' through Single Touch Payroll enabled software. The exemption...
Spouse contributions – when are you eligible for a tax offset?
Contributions made on behalf of your spouse to a complying superannuation fund or a retirement savings account (RSA) may be eligible for a tax offset. The 2019/2020 tax...
What you need to know about fringe benefits tax
A fringe benefits tax (FBT) is a tax paid on benefits provided to employees (usually non-cash). FBT is calculated based on the gross taxable value of benefits employers...
Reviewing your business’ progress
With the current economic slowdown, now is the perfect time to review your business strategy and conduct a business “health check” to come out the other side improved and...
Your current employer superannuation obligations
Paying your employees superannuation is an integral part of being an employer. Superannuation provides income for your workers in retirement and it is your legal...
Tax implications for workers with COVID-19 mobility restriction
Employees who are not living or working in their regular location due to COVID-19 mobility restrictions need to be aware of the tax implications that apply to their...
How to support your employees through COVID-19
Supporting your employees during chaotic times as an empathetic leader will improve your relationships within your business and boost personal confidence. Here are some...
JobKeeper GST turnover test released
The ATO has published a ruling on the decline in turnover test for businesses applying for the JobKeeper scheme as part of the Coronavirus Economic Response Package...
What happens if your SMSF is non compliant?
While there are benefits to running an SMSF, they do not come without their compliance responsibilities. This includes lodging your fund's annual return on time,...