Blog
A guide to staying compliant with super rate increases: MYOB & Xero
Jul 15, 2022
From 1 July 2022, the base SGC rate increases from 10% to 10.5%, and the $450 minimum monthly earning threshold is removed. This means all payments are subject to superannuation for all eligible employees. For our clients, this might mean you may need manually update...
Updates to Commonwealth Seniors Health Card to help ease living costs
Jul 15, 2022
The Government has recently announced an additional 50,000 older Australians will be eligible for a Commonwealth Seniors Health Card from 1 July 2022. The income test for access to a Commonwealth Seniors Health Card will increase to $90,000 yearly for singles (up from...
Changes for MYOB subscription holders
May 18, 2022
There have been some important changes to MYOB subscription payments. Up until this point, Roberts & Morrow have managed your subscription (practice pays) however we are streamlining the MYOB process and arranging subscription payments...
Merger Date & Location Announced
May 13, 2022
We would like to provide a further update to clients on our plans in relation to the proposed merger with Malvern Mathews Smith (MMS) and Roberts & Morrow, Tamworth NSW. From 1 August 2022, the teams will come together under one name: Roberts & Morrow at a new...
Fleece to Fashion Gala Awards 2022
May 12, 2022
The Fleece to Fashion Awards was held at the Deeargee Woolshed on Monday and attracted fashion design entries from Adelaide, Brisbane, Melbourne, Sydney, Mildura, Young, and the local New England region. For the first time since the beginning of the pandemic, the...
COVID-related support for SMSFs
Apr 27, 2022
Because of the financial impacts of COVID-19, you (in your role as trustee of an SMSF), or a related party of the fund, may provide or accept certain types of relief, which may give rise to infringements of the super laws. You may also have been stranded overseas...
Check your PAYG instalments
Apr 22, 2022
The PAYG instalment system allows a business to spread its income tax liability across the tax year. This helps with cash flow, but also means the business is not faced with a large tax bill after the end of the tax year. Most businesses lodge and pay instalments...
Changes on Trusts and Trust Distributions
Apr 20, 2022
Family trust beneficiaries at risk The tax legislation contains an integrity rule, section 100A, which is aimed at situations where the income of a trust is appointed in favour of a beneficiary, but the economic benefit of the distribution is provided to another...
Are Your Contractors Employees?
Apr 20, 2022
Two landmark cases before the High Court highlighted the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume that they will not be responsible for PAYG withholding,...
Succession planning – NSW farming families
Apr 20, 2022
The stamp duty exemption for farms in NSW has recently been broadened and will greatly increase the succession planning options available to families in the rural sector. The past exemption for transferring farming properties between generations requires the...
The Federal Budget 2022-23: Support for Small & Medium Businesses
Apr 1, 2022
On March 29, 2022, Treasurer Josh Frydenberg delivered Australia's 2022-3 federal budget. There were minimal tax changes for businesses in this budget. However, this article details some of the main support measures announced that will interest small &...
Div 7A and financial accommodation
Mar 31, 2022
The ATO has recently released a significant draft ruling around Div 7A, which ensures that private companies cannot make tax-free distributions of profits to shareholders or their associates in payments, loans, or forgiven debts. Generally, a private company is taken...