Increase in the number of SMSF members

 

On 1 July 2021, the maximum number of allowable members within an SMSF increased from four people to six people.

 

10 top global corporations since 1998

 

A very interesting, graphical, summary of the monsters of our global economy.  Fascinating stuff!!

 

Unpaid client invoices placing greater pressure on SMEs

 

The number of SMEs struggling due to late payments is still being felt, according to new research.

 

ATO provides further clarity on DIN process

 

The ATO and the SMSF Association have clarified some of the areas of confusion with respect to the director identification number process and outlined some of the ATO’s longer-term plans.

 

Beware section 99B

 

Imagine this scenario: George, who lives in Melbourne and is aged 23, gets a call from his grandmother in Athens. Grandma says she is going to give him $100,000 for Christmas. George is ecstatic. With profuse thankfulness, George gives Grandma the bank details.

 

State and Federal COVID-19 support — January – 2022

The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.

Why more Millennials are turning to SMSFs

The growth trajectory of more Millennial SMSFs is set to continue in the years to come, according to the chief executive of Smarter SMSF.

Making the festive season less taxing

As we fly into our second pandemic-impacted festive season, many employers are now, more than ever, looking to bring a little bit of cheer to their employees.

Asian Economies (1960 – 2020)

While there is a very rapid escalation with watching and monitoring the economies of Asia, especially China, it is always interesting to look back over time, in this case 60 years, to see how they have evolved. Doing so adds great perspective.

How the best firms are supporting the mental health of their employees

With the recent pandemic, there have been more conversations and questions over the role of the employer in supporting the wellbeing of their employees.

Business Resources – Grants, Assistance, Resources and more.

 

The following are some of the links to information on a number of State and Federal initiatives that might help your business through these tough times.

 

ATO flags focus areas for combating $33.5bn ‘tax gap’

The ATO says it will be focusing on accessing new third-party data, automating audit processes, increasing its access to high-quality data and preventative strategies in order to drive down the overall tax gap.