Other Updates

Simon Flowers




Please be aware that:

1) Your tax planning for the 30 June 2014 financial year should be well on its way, if not finished already. If it hasn’t been please contact your principal or manager asap.

2) If you have a trust within your group structure, your pre 30 June 2014 trust minute should be signed and completed by 30 June 2014. If not, the trustee could get taxed at the top marginal tax rate. Again if it hasn’t been done, please contact your principal or manager.

3) The Superannuation guarantee rate increases from 1 July 2014 to 9.5% from 9.25%.

4) The super streaming legislation that requires employers with greater than 20 employees to pay and notify super funds electronically has been delayed until 1 July 2015. It is anticipated that all employers will be required to comply with this legislation by this date.

5) The deficit tax as announced in the most recent Federal budget has passed through parliament and will now come into force from 1 July 2014.

Related insights

Federal Budget 2021/2022

Federal Budget 2021/2022

The video features Troy Smith, IOOF Senior Technical and Regulatory Change Manager, and provides clients with a high-level overview of the proposed changes referring them to the Client Summary Fact Sheet for more information. Federal Budget 2021 Fact Sheet...

read more
Federal Budget 2020

Federal Budget 2020

The Treasurer Josh Frydenburg released his 2nd budget as Treasurer on Tuesday night (5 months late) with a mantra on JOBS, JOBS and more JOBS plus business spending which they hope will create even more JOBS.  We have JobKeeper and JobSeeker already – budget...

read more
2020 GBEA Winners

2020 GBEA Winners

READ ALL ABOUT IT! Geelong Indy has a massive 24 pages full of GBEA winners, previous winners and sponsors. Well deserved winner Sea All Dolphin Swims on the front. Grab a copy now or find it online https://geelongindy.com.au/digital-editions/

read more

Subscribe for the latest news + updates

Get in touch to explore your opportunities with an LBW expert and discover your journey to a better financial future.