Small Business Superannuation Clearing House (SBSCH) – Key Dates As we approach the end of the year, the ATO Small Business Superannuation Clearing House (SBSCH) will close from the 23rd December 2022 and re open 3 January 2023. Key dates you need to be aware of are as follows: 5:30 pm AEDT on 14 December […]
It’s the most wonderful time of year and during this season we would like to take the opportunity to reflect upon the good things we have…like our partnership with you. In the spirit of Christmas we would like to extend to you and yours, our warmest wishes for a peaceful season full of memories with […]
Please note that Gerard Wilkes & Associates will be moving to our new premises on the 15th November 2022. The new premises are located at: Southport Central Tower 3, Level 5, 9 Lawson Street, Southport This is just 700m south of where we are right now. You will find Tower 3 opposite the Southport Library. […]
Do you understand your Cryptocurrency and Tax obligations relating to your Cryptocurrency purchases and disposals in Australia? Your tax responsibilities vary depending on your circumstances, but you need to keep records for all cryptocurrency transactions. What is Cryptocurrency? Cryptocurrencies are also known as virtual currencies or digital currencies. They are a form of digital token. There are […]
Why Should You Use A Corporate Trustee Instead of Individuals For A Family Trust? A family trust is a great structure. It provides tax flexibility whilst giving you asset separation in two directions. But what does asset separation in two directions mean? And why might we suggest it to you as a recommendation? First of […]
Some of the most common questions about Self-Managed Super Funds are in relation to claiming deductions for expenses. When considering if it is appropriate for your fund to pay an expense, it’s important to firstly make sure the payment is: Consistent with implementing the fund’s investment strategy Allowed for under the fund’s trust deed and […]
Three tips to prepare for tax time! When it comes to preparing for tax time, the more organised you are, the less stressful the process and the more likely you are to maximise your deductions. 1. Organise your paperwork Start gathering together all of your records and receipts, along with: • Records of any sales […]
The distribution of superannuation following a member’s death is a relatively complex area of the superannuation system. Superannuation monies do not automatically form part of a deceased’s estate. Instead, the Superannuation Industry (Supervision) Act 1993 (SIS Act) provides that: a) the governing rules of a fund may permit a member to complete a notice that […]
As part of its Economic Response to COVID-19, the Australian Government is supporting business to manage cash flow challenges and to keep apprentices and trainees employed through the Supporting Apprentices and Trainees wage subsidy. The Australian Government is extending and expanding the Supporting Apprentices and Trainees wage subsidy, to include medium-sized businesses who had an apprentice in place […]
Missed or underpaid super amounts? Business downturn due to COVID-19 may be affecting your business and you may have missed, or not paid in full, regular payments. This includes your employees’ super guarantee (SG) for the quarter ended 30 September 2020. By law, the ATO cannot extend the due date to pay super. To meet […]
