In November 2025, the Federal Government’s Payday Super legislation passed both houses of Parliament. Once in effect, this change will require employers to pay superannuation at the same time as employees’ wages. What’s changing for employers from 1 July 2026? From 1 July 2026, employers will need to be aware of the following obligations: Superannuation […]
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The RBA announced a rate hike last Tuesday, and we understand this may raise questions and concerns. We’ve shared a quick update alongside Ashley Koenig and Cameron Price, our Strategic Partners in finance from Mortgage Choice. Our team is here to support you and can connect you with Ashley and Cameron to discuss how this change […]
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Land Tax Obligations for Victorian Property Owners: What You Need to Know If you own property in Victoria, you may be required to pay land tax, including Vacant Residential Land Tax (VRLT). VRLT is an annual tax applied to residential land that is vacant for more than six months in the preceding calendar year. […]
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It’s time to process your Taxable Payment Annual Report (TPAR) If your Business employs contractors and is in the below list of industries, you must lodge your Taxable Payment Annual Report (TPAR) by the 28th of August 2025. Businesses directly involved in the following services need to lodge TPARs: Building and Construction Services Cleaning Services Courier or Road […]
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The ATO have created a way to lift the restricted access to compromised taxpayer accounts. If your Tax File Number (TFN) has been compromised, the ATO lock down your account and restricts access to ensure security. In the past, this meant that each year you would need to contact the ATO directly to ask them […]
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It’s time to process your EOFY Payroll using Single Touch Payroll (STP). Employees now access their Income Statements (previously known as Payment Summary or Group Certificate) through their personal MyGov account. This happens after you have completed your Single Touch Payroll processing.Single Touch Payroll finalisation must be completed by 14 July 2025. To finalise your Single Touch Payroll in Xero you need to […]
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In the complex world of finance and taxation, unexpected audits can pose a significant challenge to businesses and individuals alike. Audit Shield is a tax audit insurance policy offered by accountancy firms, designed to cover the professional fees incurred if a client is audited by the Australian Taxation Office (ATO) or other revenue authorities. It helps […]
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On Tuesday 25 March 2025, Treasurer Jim Chalmers announced the 2025–26 Australian Federal Budget with updates to key economic forecasts and laying the groundwork for a potential federal election The focus of our summary is on the key tax related announcements of the budget. Personal Income Tax Cuts The budget introduced unexpected new cuts in […]
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Recent changes have been made to the Vacant Residential Land Tax (VRLT). If you own residential property that is unoccupied for more than six months in a calendar year, you may be subject to this tax. What Is the Vacant Residential Land Tax (VRLT)? Introduced by the Victorian Government in 2018 the Vacant Residential […]
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It’s time to process your Taxable Payment Annual Report (TPAR) If your Business employs contractors and is in the below list of industries, you must lodge your Taxable Payment Annual Report (TPAR) by the 28th of August 2024. Businesses directly involved in the following services need to lodge TPARs: Building and Construction Services Cleaning Services Courier or Road […]
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It’s time to process your EOFY Payroll using Single Touch Payroll (STP). Employees now access their Income Statements (previously known as Payment Summary or Group Certificate) through their personal MyGov account. This happens after you have completed your Single Touch Payroll processing. Single Touch Payroll finalisation must be completed by 14 July 2024. To finalise […]
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The promise of cost-of-living relief has been delivered via the budget on Tuesday as Treasurer Jim Chalmers announced a second consecutive surplus with this years expected $9.3 billion. This is the first time in almost 2 decades two consecutive surplus budgets have been delivered. Starting July 1, 2024, the Victorian Government has implemented a set […]
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