Small Business Tax Obligations
June 10th, 2010 | Deductions
The ATO have introduced new measures to assist small businesses who may be having trouble meeting their taxation payment obligations due to the economic climate.
Until 30 June 2010, small businesses (turnover less than $2M) can apply for:
– 12 month interest free payment arrangements
– deferred activity statement payment dates*
*Up to two month deferrals for [...]
Superannuation Changes
June 10th, 2010 | Deductions
New arrangements affecting superannuation for individuals took effect from 1 July 2009.
1. The government co-contribution has been temporarily reduced to 100% (down from 150%) with maximum co-contribution of $1,000 for 2009-10 and the two subsequent financial years.
2. The concessional contributions cap has been reduced from $50,000 to $25,000 and the transitional cap for over-50s from [...]
