In early November, the Commonwealth Bank announced that it is now Australia's first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app. You know when the banks come on board, cryptocurrency has become normal.

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the rules of fund, superannuation law, and the death nomination you made.

Employers have an extra step to take if you have new employees who start from 1 November 2021 and they don't choose a super fund.

MYOB AccountRight Payroll and Essential users, you may be aware that on 1 July 2021 the superannuation guarantee contribution rate increased from 9.5% to 10%. This is the minimum super amount you must pay all eligible employees from 1 July onwards.

The Federal Government has legislated an 0.5% increase to the Compulsory Super Guarantee from 1st July 2021, with further increases over the next five years. The blog is a guide to help our clients/employers understand the impact of these changes to employee remuneration.

If you usually receive a paper PAYG Instalment Statement or BAS and you have not received it for March or June 2021 quarters, please contact our office.

We commonly see situations with delayed payments or disputes over quality, occasionally money is lost through the buyer going into liquidation.Often in delayed payments, the buyer has the ability to pay, they just do not want to incur extra cost (bank fees, interest, overdraft extensions etc.) to make it happen, and instead they use you as their overdraft.

The Australian Government has introduced personal income tax cuts that apply from 1 July 2020.