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Individuals can now re-contribute amounts they withdrew under the COVID-19 early release of super program without the re-contribution counting towards their non-concessional contributions cap. These contributions can be made between 1 July 2021 and 30 June 2030. Individuals can make…

Taxpayers can vary their pay as you go (‘PAYG’) instalments throughout the year if they think they will pay too much, compared with their estimated tax for the year. To assist taxpayers who continue to be affected by COVID-19, the…

The ATO is reminding employers that, as of 1 November 2021, there is an extra step they may need to take to comply with the choice of super fund rules. If a new employee does not choose a super fund,…

The ATO has previously advised that it will no longer issue paper activity statements after electronic lodgment.  Instead, electronic activity statements will be available for access online, three to four days after the activity statement is generated. As part of…

Broadly, JobKeeper Payments received by an employer are assessable income to the employer. Likewise, the payments an employer subsequently makes to an employee that are funded (in whole or in part by the JobKeeper Payment) are generally allowable deductions to…

Regulations that extend the time frame of the special condition of release to access $10,000 from superannuation for individuals experiencing financial difficulties due to COVID-19 have been formally registered. The ability to withdraw up to $10,000 from superannuation (if certain…