SuperStream – simplifying employer contributions
20 Nov 2015
More than 800,000 Australian employers are required to make super guarantee contributions on behalf of employees. For many, this can be a complex process, with multiple superannuation funds to which they contribute – each with their own specifications for accepting the contributions data and payments. From 1 July 2014 – Employers with 20 or more […]
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The RBA minutes just made a great case for Australia’s continued economic recovery
18 Nov 2015
The RBA board minutes shouldn’t really tell us anything we don’t already know given we have had the governor’s statement and a quarterly Statement on Monetary Policy (SoMP) to guide markets. But it’s clear in the minutes, which bridge the brevity of the governor’s statement and the vastness of the SoMP, that the RBA really […]
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RBA confidence about economy grows
17 Nov 2015
The Reserve Bank seems unlikely to cut the cash rate thanks to benefits from the lower Australian dollar flowing through to the economy. In the minutes of its November board meeting, the central bank gave an upbeat assessment on the Australian economy but also said very weak inflation gave it scope for a rate cut […]
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ATO cracks down on ‘wealth extraction strategy’
13 Nov 2015
The Australian Taxation Office is cracking down on family businesses which misuse partnership and trust structures to shift profits and avoid paying income tax, with 75 companies already in its sights. Tax agents who promote the illegal practice are also in the firing line. The ATO on Thursday said it was targeting arrangements where individuals extracted profits from their business, […]
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