News Letters (copy 02)

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December 2019 Quarterly Update

VACANT LAND DEDUCTION CHANGES HIT 'MUM & DAD' PROPERTY DEVELOPMENTS

Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.



CALCULATING SUPER GUARANTEE: THE NEW RULE

From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer.
 

5 THINGS THAT WILL MAKE OR BREAK YOUR BUSINESS'S CHRISTMAS

The countdown to Christmas is now on and we’re in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. This dislocation and volatility mean that it is not ‘business as usual’ and for many businesses, it is the change that causes the problem.


SUPER GUARANTEE OPT-OUT FOR EMPLOYEES WITH MULTIPLE EMPLOYERS
 
Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer.
 

READ THE FULL REPORT HERE
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