Finalising Single Touch Payroll

With the introduction of Single Touch Payroll (STP), this end of financial year (EOFY) will look a little different. STP has streamlined the payroll process meaning EOFY should also be a more simple task. Where you would previously be sending payroll information to the Australian Taxation Office (ATO) once a year, that is now being done automatically after every pay run (assuming you have adopted STP). As a result any…  Read more

O’Brien clients top five questions answered

As we close off the financial year we asked our Advisors, what are the top questions our clients have been asking over the past few weeks. Here’s the answers to your top five topics… Super contributions before 30 June With only a day to go, time is limited but our tax strategy guide thoroughly covers end of financial year superannuation tax strategies. If it’s too late for this year, there’s…  Read more

Preparing for end of financial year – what you need to know

As we approach the end of the financial year, there are a number of smart strategies you could consider to help you streamline your finances and legitimately reduce your tax liability. Our team has prepared a detailed guide to assist you in ensuring you can tick off all the strategies relevant to you. You will find information for: Individuals insurance premiums work-related expenses – new shortcut method introduced this year…  Read more

Webinar: Understanding what is important as we navigate uncertain times

We collaborated with one of our independent investment partners, Morningstar, to bring you an investment briefing webinar “Understanding what is important as we navigate uncertain times”. Delivered by Clint Abraham, Portfolio Specialist at Morningstar, this webinar provides insight into the current economic climate, a look at what is driving markets, portfolio performance and investment volatility and how your actions now will impact in the long-term.   Watch recording here    Read more

Superannuation Guarantee Amnesty

In March the government introduced a Superannuation Guarantee Amnesty. The amnesty allows employers to disclose and pay previously unpaid Super Guarantee Charge, including nominal interest, that they owe to their employees for past quarters (1 July 1992 to 31 March 2018). The benefits: Tax deductions for payments of the Superannuation Guarantee Charge No administrative penalty of $20 per employee No Part 7 penalties (which could otherwise be 200% of the…  Read more

Federal Government support package for individuals & households

Published: 23 March 2020 Analysis of most recent announcements from the Federal Government Income support for individuals – Coronavirus supplement Over the next six months, the Government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 per fortnight. This will be paid to both existing and new recipients of JobSeeker Payment, Youth Allowance Jobseeker, Parenting Payment,…  Read more

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