News

July 4, 2022
Accounting

Director Identification Numbers – Reminder

Director Identification Numbers – Reminder: Last year, we foreshadowed the upcoming Director ID requirements, with all Company Directors required to…

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May 1, 2022
Accounting

Section 100A and discretionary trust reimbursement agreements

Section 100A and discretionary trust reimbursement agreements: Family Trusts are discretionary trusts that have the ability to choose to whom…

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March 1, 2022
AccountingFinancial Planning

Responsibilities of SMSF trustees

Being involved in Self-Managed Super Fund (SMSF) allows the members and the trustee to be take control of their retirement…

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January 14, 2022
Accounting

Employee Share Schemes

What is an ESS? Employee share schemes (ESS) are plans used by businesses to provide an alternative option of payment…

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December 24, 2021
Accounting

Director Identification Numbers

On 1 November 2021, the Director ID Number initiative was set up by ASIC and the Australian Business Register. The…

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November 30, 2021
Accounting

Stapled Super – what do I need to know?

The Australian Taxation Office has started implementing new regulations on businesses regarding new employee’s super accounts. Stapled super regulations are…

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October 31, 2021
Financial Planning

How much do you need to retire.

If you are over the age of 50, chances are you have adopted a ‘set and forget’ approach to your…

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September 30, 2021
AccountingFinance Broking

TAX Debts, credit files, and the risk to your home loan

While the initial lockdown (at least in NSW) appeared to have a limited effect, especially with JobKeeper supplementing incomes, the…

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August 20, 2021
Finance Broking

Economic data and mortgage Interest rate outlook

On 23 June 2021, when the current lockdown was at it’s beginning, Alex Evans of the Commonwealth Bank noted that…

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July 19, 2021
Accounting

COVID related payments available to individuals

We hope you are managing and staying safe during the current lockdown period. As a follow up to our previous…

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July 16, 2021
Accounting

Sydney COVID Support Grants – Summary and Links

With the recent uncertainty surrounding the Sydney Lockdown and its duration, we would like to take this opportunity to briefly…

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June 1, 2021
Accounting

Discretionary Trusts

Year end obligations and documentation requirements In Australia a common type of trust is a Discretionary Trust.  A Discretionary Trust…

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May 15, 2021
AccountingSimaco Bulletin

Withdrawals from Companies and Division 7A

Getting the year end right During the year, company directors, shareholders or their associates from time to time may withdraw…

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March 31, 2019
AccountingFinancial Planning

Single Touch Payroll

From 1 July 2019 all employers will be required to implement single touch payroll. Single Touch Payroll (STP) is a way…

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February 28, 2019
AccountingFinancial Planning

Staying safe from ATO scammers

Over the past few years there has been a significant increase in scammers trying to steal taxpayers’ money, claiming they…

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January 31, 2019
Accounting

Non-deductibility of PAYG tax and Superannuation

From 1 July 2019, you can only claim deductions for payments you make to your workers (employees or contractors) where you…

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