New government super payment for low-income earners

New Government Super Payment commenced on 1 July 2012 – the low income super contribution. This payment aims to boost the super of low-income earners to help them save for their retirement.

Contributing to Superannuation within the Cap

Planning to contribute funds to your superannuation? Please ensure you are aware of the cap applicable to avoid paying extra tax.

The $18,200 Tax Threshold

If you receive income from more than one source and are certain that you will earn less than $18,200 in total income for the financial year, you can now claim the tax-free threshold from all of your employers and other withholding payers.

Ever questioned why you didn’t get a bigger tax refund?

Clients often worry why their refunds are not as high last year. Of course we all love receiving tax refunds, but what are the common reasons your refund isn’t as high?

Why do I need to pay PAYG if I am not employing anyone?

A common query my office gets asked – Why do I need to pay PAYG if I am not employing anyone? Firstly, you need to decipher which PAYG the ATO wishes you to pay; PAYG Instalments or Withholding.