Brealey Quill Kenny Blogs

Super Guarantee Changes from 1 July 2022

A reminder to our business clients with employees that from 1 July 2022 the following changes to super guarantee (SG) come into force: SG will be payable for an employee regardless of how much they earn. This is due to the $450 per month eligibility threshold for when SG is paid being removed (Note, SG...
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The Level 2 COVID-19 Business Assistance Package has been expanded to provide more support for local businesses. Under the expanded program, two tiers of grants will now be available to businesses that experienced a decrease in turnover for a consecutive two-week period between 1 January and 30 April 2022: A revised tier for businesses that...
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Federal Election Analysis 2022-23

Last night, the Federal Budget was handed down in Canberra. Please find a summary of the Tax and Financial support related measures announced in the budget via the link below, as prepared by our affiliated financial planning firm, Barns Financial Services. Federal Budget 2022-23 Analysis
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WA Small Business Assistance Grant – December 2021 (Now Open)

The WA Small Business Assistance Grant – December 2021 is now open. It is available to small businesses operating within the hospitality sector, the music events industry or the creative and performing arts sector, that were directly financially impacted by the Chief Health Officer’s COVID Restrictions from 23 December 2021 to 4 January 2022. Eligible...
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Directors Identification Number – What you need to know

The Federal Government, through the Australian Business Registry Service (ABRS), is implementing a new director identification number (director ID) regime which will require all company directors to apply for a director ID number. The phased implementation commences from November 2021. For a summary of what this all means see below. Background The purpose of the...
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Super choice rules for new employees will change from 1 November

If you have new employees who start from 1 November 2021 and they don’t choose a super fund, you may need to request their ‘stapled super fund’ details from the ATO. A stapled super fund is an existing super account of an employee that follows them as they change jobs. This change aims to stop...
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Useful ATO App

The ATO are reminding taxpayers that they have an app which allows you to quickly and easily check your 2020–21 tax return progress. The ATO app allows you to: view when lodgements and payments are due view a summary of your accounts including income tax and activity statements and payment plan details keep your personal...
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Tax scams start phishing early

With tax time underway the ATO are seeing an increase in reports of email scams that try to steal personal information. Scammers pretending to be from the ‘myGov customer care team’ are sending emails that include screen shots of the myGovID app, asking people to verify their identity by clicking on a link. The ‘secure...
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Individual Tax Return Checklist

To assist in collating the information for your personal Income Tax Return for the 2021 financial year, the following link provides a checklist of items to consider prior to attending your appointment or forwarding your taxation information to our office. BQK Individual Tax Return Checklist
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Super guarantee rate rising on 1 July

A reminder to our clients who are required to remit super guarantee (SG) for their employees, that on 1 July 2021, the SG rate will increase from 9.5% to 10%. For payments of salaries and/or wages on or after 1 July 2021, the minimum SG contribution rate of 10% will need to be applied. If...
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Super Guarantee Changes from 1 July 2022A reminder to our business clients with employees that from 1 July 2022 the following changes to super guarantee (SG) come into force: SG will be payable for an employee regardless of how much they...
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