Blog
AAT to get more powers to help small businesses
Mar 31, 2022
The AAT may soon be given more powers to help small businesses if a proposed Bill passes Parliament before the Federal election is called. The Bill, which is currently before the House of Representatives, seeks to enable small business entities to apply to the Small...
Get ready for FBT time, 23 May 2022
Mar 31, 2022
The end of March signals the approach of FBT time. Employers that have not previously provided employees with fringe benefits need to be aware this year that any COVID-19 related items provided may be subject to FBT, including rapid antigen tests and protective...
Super guarantee minimum threshold removed
Mar 31, 2022
In Australia, it is estimated that around 300,000 young, part-time, mostly female workers currently and legally do not receive super contributions from their employers under the super guarantee scheme. This is due to their before-tax earnings per month falling below...
Support for farmers and primary producers after the floods
Mar 16, 2022
Farmers & Primary producers hit by storms and floods in NSW can access $15,000 immediately, through grants of up $75,000, as part of the jointly funded Commonwealth-State Disaster Recovery Funding Arrangements. Grants are now available for eligible primary...
Support for small businesses and not-for-profit organisations affected by the floods
Mar 16, 2022
Small businesses and not-for-profit organisations affected by the floods in parts of Queensland and NSW will have more time to lodge their business activity statements and instalment notices with an original due date of 28 February 2022 or 21 March 2022. Those...
Downsizer contributions: Age limit change
Mar 16, 2022
By Thomson Reuters Tax & Accounting More people will soon be able to make up to $300,000 in downsizer contributions into super with the lowering of the age limit to include those 60 years and over from 1 July 2022. Before this date, only those aged 65...
Record-keeping education instead of financial penalties
Mar 16, 2022
By Thomson Reuters Tax & Accounting If you run a small business and are found by the ATO to have made unintentional record-keeping mistakes, you could be liable to an administrative penalty. However, this could soon change under new proposed laws to...
FHSS maximum releasable amount increased
Mar 16, 2022
By Thomson Reuters Tax & Accounting The maximum amount individuals can take out of their super under the First Home Super Saver Scheme will be increased from $30,000 to $50,000 for any release requests made on or after 1 July 2022. Initially, the scheme was...
Work test scrapped for super contributions: under 75s.
Mar 16, 2022
By Thomson Reuters Tax & Accounting Individuals aged between 67 and 75 will be able to make non-concessional, and salary sacrificed contributions without the need to pass the work test or satisfy the work test exemption criteria from 1 July 2022. The...
Michael McQueen Event Wrap-Up
Feb 24, 2022
We had the absolute pleasure of hosting key note speaker Michael McQueen Wednesday 23 February in Brisbane as we celebrated the launch of our Brisbane office and achieving 70 years in business! This is the second time we have invited Michael to present at one of our...
Introducing our Brisbane Team!
Feb 23, 2022
It’s a big year for R&M, and we’re celebrating 70 years in business and the opening of our newest office in Brisbane! We want to introduce our Brisbane team! From left: Jake Curran, Steven Tanner (Manager), Sam Williams, Elisabeth Lang, Jason Simmonds (Partner),...
COVID-19 tests may be deductible?
Feb 23, 2022
The government has proposed to make COVID-19 tests, both rapid antigen and polymerase chain reaction tests, tax deductible for individuals where they are purchased for a work-related purpose. It has also proposed to make the costs of these tests exempt from FBT for...