Blog

Sep13

Tips to avoid exceeding the concessional contributions cap

By BS Team in Company, Individual, Taxation

Be aware what your concessional contributions cap is before each 30th June. If you go over the cap ($ 27,500), you may have to pay extra tax. Check when your employer pays the contributions and when they were received by...

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Sep09

Single Touch Payroll

By BS Team in Company, Social, Taxation

Single Touch Payroll (STP), is an Australian Government initiative to reduce employers' reporting burdens to government agencies. With STP, you report employees' payroll information to us each time you pay them through STP-enabled software. Payroll information includes: salaries and wages...

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Sep06

Superannuation Contributions Cap – Alert, new limit applicable!

By BS Team in Company, Individual, Social, Taxation

From 1 July 2021, the general concessional contributions cap is $27,500 for all individuals regardless of age. It includes: compulsory superannuation guarantee contribution any additional concessional contributions your employer makes any salary sacrifice payments made to your super fund When...

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Mar17

Extra time to Lodge & Pay your quarterly BAS!

By NQ Team in Company, Taxation

Do you know if using the services of a registered BAS Agent (limited to BAS declarations) or a Tax Agent (for all tax declarations) your business can benefit of an extra 4 weeks extension for lodgment and payment? How to...

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Mar17

Don’t get caught, meet your Individual Tax Obligations in Australia!

By NQ Team in Individual, Taxation

Most individuals need to declare to the Australian Tax Office (ATO) their annual income in order for ATO to work out how much tax is payable. As your employer will already have made a compulsory withheld on your wages, your...

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Mar17

Individual TFN, this is a Private Matter!

By NQ Team in Individual, Taxation

A tax file number (TFN) is a unique lifetime’s number regardless of any personal changes. You can choose not to request a TFN nevertheless if you don’t have a TFN, you will have taxes deducted at maximum rate from any...

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Mar17

Save your money on Fringe Benefit Tax (F.B.T)!

By NQ Team in Company, Taxation

Get a basic understanding and few tips how to waive this extra tax What is it? This is a benefit provided in respect of employment which is not salary or wage. These types of benefits, also known as 'fringe benefits',...

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Mar17

Avoid paying the Medicare Levy Surcharge!

By NQ Team in Individual, Taxation

Understand the basic Medicare Levy System in Australia When you are entitled to get benefits from the Australian health care system, there is two different additional taxes paid on top of your personal income tax: -The compulsory contribution paid by...

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