Insights

  1. Are you paying your staff correctly? Woolworths $200m plus remediation
    business insights
    Are you paying your staff correctly? Woolworths $200m plus remediation
    Knowledge Shop

    Woolworths have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (before tax).

  2. Are all your SMSF eggs in one basket?
    business insights
    Are all your SMSF eggs in one basket?
    Knowledge Shop

    The investment strategies of Self Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about a lack of asset diversity.

  3. ATO take ‘gloves off’ on overseas income
     
    ATO take ‘gloves off’ on overseas income
    kristallis

    Five years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the ATO has again flagged that underreporting of foreign income is an issue but this time the gloves are off.

  4. Why the Government does not want your business accepting cash payments of $10,000 or more
    business insights
    Why the Government does not want your business accepting cash payments of $10,000 or more
    kristallis

    From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*.

  5. Single touch payroll exemption for directors and family members
    business insights
    Single touch payroll exemption for directors and family members
    Knowledge Shop

    The ATO has provided a concession from single touch payroll for payments by small employers to closely held payees.