The top 1 per cent of Australia’s high incomes couples set for retirement in 2055 will be receiving over $5 million in government assistance, according to estimates revealed by Industry Super Australia (ISA).
Medium and large-sized businesses now have more time to ensure they are SuperStream compliant after the ATO extended the June 30 due date.
While the $5.5 billion package has been well received, the questions facing Australia’s two million-plus small business owners are two-fold: what does it mean for me and what to do with the incentive?
In its submission to the Tax Review, Industry Super Australia has forecast that close to 50 per cent of Aussies retiring from now to 2055 will not have the income necessary for a comfortable retirement.
Sage One is aiming to disrupt the cloud accounting market with a competitive solution aimed at Australia’s small businesses and accountants.
Tom Seymour said the nation would not see housing become more affordable, a rise in job security, and a boost in education if major tax reform were not accomplished.
It’s crucial small business owners use this time to take stock and analyse the business to try and find small opportunities or improvements that could be made, and make a strong plan for the year ahead.
With the End Of The Financial Year on the not so distant horizon, it’s a good time to organise your financial affairs and assess whether your investments are structured to give yourself the best tax advantage.
The lowest tax burden coupled with the lowest interest rates since the late 1960s means that Australian small businesses have not experienced such great conditions since the days of black and white TV.
Take the following steps to ensure that your business’ bookkeeping doesn’t become an overwhelming burden.
