Additional ATO support during COVID-19
The ATO is providing additional support to taxpayers having difficulty meeting their tax and Superannuation Guarantee charge obligations for employees because of COVID-19.
Superannuation Guarantee obligations for September 2021 quarter
Under the Superannuation Guarantee (SG) scheme, employers are required to make quarterly contributions on behalf of their employees, and the due date for the September 2021 quarter is 28 October 2021.
Extra superannuation step when hiring new employees
Employers may soon need to do something extra when a new employee starts to work for them.
Superannuation caps indexation for 2022
From 1 July 2021, the superannuation contributions caps have been indexed for the 2022 income year.
Wealth accumulation for business owners
While it’s common for business owners to spend considerable time and effort focusing on business strategies for ongoing viability, it’s also important to make a dedicated effort towards building and protecting your own personal wealth.
Superannuation requirements for business owners
The super guarantee rate will rise from 9.5% to 10% on 1 July 2021, so businesses with employees will need to ensure their payroll and accounting systems are updated to incorporate the increase to the super rate.
Federal Budget 2021-22 Summary
Announcements from the 2021-22 Federal Government Budget, handed down on May 11, focus on recovery and investment to support jobs creation to drive economic growth. Our Budget Summary highlights the top announcements which, if implemented, may affect your business decision making and planning for your personal financial goals.
Super contribution caps will increase from 1 July 2021
The ATO has confirmed that, from 1 July 2021, the superannuation concessional and non-concessional contribution caps will be indexed.
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