Employers beware: increase in super guarantee

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From 1 July 2021, the rate of super guarantee increased from 9.5% to 10%. Businesses using manual payroll processes should be careful that this change doesn’t lead to unintended underpayment of super, which may attract penalties. The new rate of 10% is the minimum percentage now required by law, but employers may pay super at […]

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Instant asset write-off with Budget changes now law

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Changes to the instant asset write-off rules have now become law, including measures recently announced in the government’s Federal Budget. The write-off has been extended to medium sized businesses (with aggregated annual turnover of $10 million or more, but less than $50 million), where it previously only applied to small business entities (with aggregated annual […]

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