by Team Garnet | Mar 31, 2022 | Money, Small Business, Superannuation
From 1 July 2022, the minimum threshold at which an employer has to pay super under the super guarantee scheme will be removed. How will it benefit you? Low-income employees should rejoice that the minimum threshold at which an employer has to pay super under the...
by Team Garnet | Mar 24, 2022 | Business Structures, Small Business, Tax News
Temporary full expensing of depreciating assets has been extended until 30 June 2023. Your business still has time to purchase eligible assets and deduct the full value in your tax return. The measure was originally introduced in 2020 as a part of the Federal...
by Team Garnet | Feb 24, 2022 | Small Business, Tax News
The government has proposed to make COVID-19 tests, both rapid antigen and polymerase chain reaction tests, tax deductible for individuals where they are purchased for a work-related purpose. After the recent furore over the non-existent supply of COVID-19 rapid...
by Team Garnet | Nov 18, 2021 | Superannuation
Changes to the work test, downsizer contributions, first home super saver scheme, and the minimum threshold for super guarantee has been introduced. How will these changes to super affect you? The government has recently introduced a raft of superannuation and related...
by Team Garnet | Oct 27, 2021 | Business Structures, Small Business
The Director Identification Number regime is coming, with the application process to open soon. Do you know if it applies to you and what the deadlines are? The Director Identification Number regime came into force late in 2020 as a tool for the government to reduce...
