Federal Budget Update 2016-17 – May 2016

Federal Budget Update 2016-17 – May 2016

To our Valued Clients

Welcome to the KSR edition of the Federal Budget overview.

Please click here for a more detailed overview of the budget measures and how it impacts on you. Please do not hesitate to contact the team here at KSR if you have any questions.

Update: SuperStream Approaching – Are you Ready? – April 2016

Update: SuperStream Approaching – Are you Ready? – April 2016

SuperStream, a system of remitting superannuation contributions electronically. The deadline for the implementation of SuperStream was 30 June 2015 for employers with 20 or more employees and 30 June 2016 for employers with 19 or fewer employees.

We have sent information regarding SuperStream in the past, but it’s worth recapping the basic principles. SuperStream requires that employers pay all contributions electronically and in doing so, transfer information about the contributions to the relevant super funds electronically using an “electronic service address”. The data message and payment are linked by a payment reference number which enables the receiving fund to reconcile the payment.

So what do you need to know?

Australia Post Update

Australia Post Update From the 4th of January 2016 there will be increased postage fees and three speeds for sending letters within Australia – Express post, and the new Priority and Regular services. Priority will take up to 1-4 business days. Regular post will now take up to 2 business days longer than priority. Both regular and Priority postage times … Read More

600 Targeted in Random ATO Audits

600 Targeted in Random ATO Audits

Back in June, the Australian Tax Office told a Parliamentary standing committee on tax and revenue that it was “considering” reintroducing random audits. Now the ATO has confirmed random audits will commence in 2016. The compliance program targeting 600 individuals and small businesses will focus on tax evasion and under-reporting.

Naughty or Nice? Xmas tax checklist

Naughty or Nice? Xmas tax checklist

It’s that time of year again – what to do for the Christmas party for the team, customer gifts, gifts of appreciation for your favourite accountant (just kidding), etc., etc. Here are our top tips for a generous and tax effective Christmas season:

Merry Christmas to all

Merry Christmas to all “As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” John F. Kennedy’s words are just as pertinent now as in 1963. In uncertain times it’s more important than ever to embrace the spirit of the season. Share the joy. Be merciful and … Read More

Christmas Closure Dates 2015

Christmas Closure Dates 2015 Please note our last day will be December 23rd 2015 and we will reopen at 8:30am on January 6th 2016. We take this opportunity to wish you a happy and safe holiday season.