Imminent Workplace & ATO Targets for 2021

Imminent Workplace & ATO Targets for 2021

What’s changing on 1 July? Company tax rate reduces to 26% for base rate entities $150k instant asset write-off scheduled to reduce back to $1,000 for small business entities and will no longer be available for entities with aggregated annual turnover of $10m or more, although accelerated depreciation rules apply to certain entities until 30…

Jail Time for Employers who don’t pay super

Employers who fail to pay super entitlements to their employees, under the Tax Office’s direction, will be subject to court-ordered financial penalties as well as up to 12 months’ imprisonment. And directors of companies that don’t pay super will come in for special attention with a “director identification number” to help the Tax Office identify those directors who are…
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