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Hot Issues
ATO reveals small business hit list to combat tax debt
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Our SG compliance results are here
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Protect your small business by following these essential steps.
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Withholding for foreign residents: an ATO focus area
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20 Years of Silicon Valley Trends: 2004 - 2024 Insights
ATO reveals common rental property errors from data-matching program
New SMSF expense rules: what you need to know
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Treasurer unveils design details for payday super
6 steps to create a mentally healthy and vibrant workplace
What are the government’s intentions with negative gearing?
Small business decries ‘unfair’ payday super changes
The Leaders Who Refused to Step Down 1939 - 2024
Time for a superannuation check-up?
Scam alert: fake ASIC branding on social media
Millions of landlords the target of expanded ATO crackdown
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How to read a Balance Sheet
Unregistered or Registered Trade Marks?
Most Popular Operating Systems 1999 - 2022
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Articles
ASIC Changes for Companies
Super Shocker Update
Year End Tax Planning - 2003
Year End Tax Planning - General
Tax Checklists: Help Us Help You - Business
Tax Checklist: Help Us Help You - Personal
A Reverse in Fortune
Superannuation ? Shocker!
Protect Family Assets
Applying for Centrelink Benefits ? What?s Involved
Reasonable Work Expense Claims
Centrelink New Gifting Rules
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Superannuation ? Shocker!
Recent changes (8th April 2003) to the 9% superannuation obligations mean that after 1st July 2003, every employer must notify every employee within 30 days after payment.

The information to be provided is the amount, the name and the address of the fund and member number.

The penalties for non compliance are enough to send most businesses to the wall.

What is extraordinarily difficult is that you must notify in writing AFTER the payment.  A pay slip is issued before payment ? hence it does not comply.

What is worse is that the letters from the Australian Taxation Office giving their version of the law are wrong.  They say 30 days after the end of the quarter.  If you receive one of these letters, it might save your business from these extraordinary fines.

The fine for an employer who pays their superannuation monthly (big mistake now) for say 5 employees, would be $16,500 every month.

The amount of superannuation payable is irrelevant.

We hope you say ? outrage!

We suggest every employer should complain to their politician.




























9th-June-2003