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Tags: ATO

Concessional Contribution Cap Changed
March 5, 2018

Concessional Contribution Cap Changed

March 5, 2018

Concessional or pre-tax contribution to your super includes, employer contributions, salary sacrifice and personal contribution, which means your super fund pays 15% tax on the contribution. Contribution cap limit the amount that can be contributed for a member each financial year. The concessional contribution cap is $25,000 for everyone effective from 1 July 2017. Previously,…

Careful: ATO surprise visits for businesses with all cash payments
February 12, 2018

Careful: ATO surprise visits for businesses with all cash payments

February 12, 2018

ATO to visit areas where their data matching suggests many businesses only accept cash payment. ATO found 60% of the businesses they visited so far need to take some correct actions and advised that they will conduct more visits in coming time. ATO suggested businesses to review if they: canaccount for any stock they have…

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