In the past paying employee superannuation has been a nightmare to say the least with payments going to multiple superannuation funds each quarter.
The ATO is implementing "superstream" to help make the process a lot more streamlined for employers.
The benefits being:
- one method for making employee contributions to multiple funds
- less time spent on processing
- the correct information and money sent can flow more quickly to the super fund
The 2016/17 Federal Budget has recently been revealed this week.
This budget reflects an exciting time for small businesses with lower tax rates resulting in more cash flow being available for investment & expansion. This should flow on to allow local businesses to be more competitive against overseas products & services.
It's always a good time to review your banking and finances to ensure your money is working for you. Currently ANZ are offering a free at home review of your mortgage to makes sure you are receiving the best possible service for your banking needs. Some areas of interest are:
We've recently had our website updated by the staff over at ITster. Have a look around and let us know what you think!
Your ability to earn an income is your most important asset to help live the lifestyle you've become accustomed to. If you had to stop work tomorrow because of an accident or illness, would you be able to continue to pay your bills and afford the lifestyle you currently enjoy?