In This Month's Edition
For those of you in business, if you are on-boarding new employees, see our first article for a step-by-step plan to cover off on your tax, workplace, and superannuation obligations.
If you're a small business owner, you'll know that you're required to pay your employees (and certain contractors) superannuation guarantee (SG) in addition to their salary or wages. But how do you pay your SG contributions in a simple and effective way? The answer is through a superannuation clearing house (SCH).
For our SMSF clients, if you are ever short of cash, however still wish to make a contribution into your SMSF, did you know you can transfer ownership of assets instead of cash contributions? See our in-specie super contribution article to know what assets can be transferred and the in-specie contributions treatment in your SMSF.
If you employ team members who are required to travel for work, see our explanation to determine whether employers should pay employees a travel allowance or LAFHA.
To help our business clients navigate the increasingly difficult economic climate, see our preparing cashflow forecast suggestions.
For employers who have been required to purchase Rapid Antigen Tests, hang onto your receipts to claim the cost of RAT tests in your next years Tax Return.
Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
Click here to view our March 2022 Newsletter
Should you require more information regarding any topic covered in our newsletter, please contact GJB on 02 9686 3130.
Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.