The 1st July Superannuation Changes

Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account. In general, your superannuation is either in an accumulation account (when you are building your super), a retirement account (when you meet preservation age and certain conditions…
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ATO confirms the resumption of its compliance activities in the wake of JobKeeper ...

ATO Confirms Debt Recovery Action Will Resume

Taxpayers falling behind on tax debts and lodgement obligations can soon expect contact from the ATO as it confirms the resumption of its compliance activities in the wake of JobKeeper ending. With the JobKeeper program officially over, the Tax Office has now confirmed that it will resume pursuing and enforcing debt recovery action. The change…
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The Garis Group Win Australian Small Business Champion Award for Accounting Services

Hunter Headline – Local Business Excellence Awarded at Australian Small Business Champion Awards

A number of local businesses were recently recognised at the Australian Small Business Champion Awards, the only national recognition program dedicated to celebrating small businesses around Australia The program aims to acknowledge outstanding Australian small businesses and encourage high standards of excellence in small business practice. The long-awaited ceremony was held on Saturday 27 February…
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Morrison Government Unveils Post-JobKeeper Stimulus Package

The federal government will roll out a $1.2 billion stimulus package across the travel and tourism industries, along with an extension to its SME Loan Guarantee Scheme once JobKeeper expires at the end of the month. The support package will subsidise 50 per cent of 800,000 domestic flights to select tourism destinations across Australia. The…
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Post-JobKeeper support to be announced in a 'matter of days’

Post-JobKeeper Support to be Announced in ‘A Matter of Days’

Treasurer Josh Frydenberg has revealed that the federal government will announce targeted post-JobKeeper support in “a matter of days”, ahead of the expiry of the wage subsidy program. Speaking from Cairns on a tour of Queensland to speak with tourism businesses, the Treasurer said the government will announce its plans to extend targeted support to…
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ATO Revs Up As JobKeeper Set To End In March 2021

ATO Revs Up As JobKeeper Set To End In March 2021

Promoted by Accountancy Insurance Although 2020 saw a temporary lull in the ATO and State Revenue Office’s usual activity level due to the COVID-19 pandemic, 2021 is already set to be as busy as ever when it comes to audits and reviews initiated by government revenue authorities. Accounting professionals are being advised to get their…
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The Garis Group Wins Best Small Business Accounting Firm in Australia

The Garis Group Wins Best Small Business Accounting Firm in Australia

In some exciting news for Newcastle & the Hunter over the weekend, local accounting firm The Garis Group won best small business accounting firm in Australia at the nationally recognised Small Business Champion awards at the International Convention Centre in Darling Harbour, Sydney on Saturday night. The awards night was postponed several times throughout 2020…
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The ATO has launched a new compliance campaign aimed at driving the lodgement of SMSF annual returns as it chases 80,000 late returns.

ATO Eyes 80,000 Late SMSF Returns: ‘3 Strikes and You’re Out’

The ATO has launched a new compliance campaign aimed at driving the lodgement of SMSF annual returns as it chases 80,000 late returns. Speaking at the SMSF Association National Conference 2021, ATO assistant commissioner, SMSF Segment, Justin Micale said that while the illegal release of super in SMSFs is a continued concern for the ATO,…
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SMSFA calls to reinstate higher contribution cap for over 50s

SMSFA Calls to Reinstate Higher Contribution Cap for Over 50s

The SMSF Association has called for the reinstatement of the $35,000 concessional contributions cap for over 50s, arguing that the current $25,000 cap restricts fund members from contributing to their super at the age where they can most afford to do so. In its submission for the 2019 federal budget, the association said the current…
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