In our library, you will find the latest financial news, valuable insights and ideas, tips and tricks we've learnt over the years and other helpful educational pieces.
1 September 2022
Last year, we shared some information about the requirement for all new and existing directors of a company, registered Australian body, registered foreign company, or Aboriginal and Torres Strait Islander corporation to apply for and obtain a director identification number. We would like to remind existing directors that they must apply for a director ID by 30 November 2022.
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11 August 2022
By Richard Marsden
With the significant changes in economic and financial market conditions so far in 2022, having a sound plan is more important than ever so you can stay in control of and on track towards your ideal retirement. This Six-Point Plan is designed to reduce risk, take advantage of opportunities, and retire successfully in uncertain times.
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28 June 2022
With 30 June only a few days away, we want to remind you to finalise any outstanding end-of-financial year transactions and draw your attention to some important superannuation and taxation considerations, including minimum pensions, superannuation contributions, income protections premiums, and working from home deductions.
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30 March 2022
On 29 March 2022, Federal Treasurer, Mr Josh Frydenberg, handed down the 2022/ 23 Federal Budget. Responding to the increased cost of living, the Budget provides several measures to support businesses and individuals by temporarily reducing fuel prices, tax relief for low-to-middle income earners, incentives, and superannuation changes.
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30 March 2022
On 29 March 2022, Federal Treasurer, Mr Josh Frydenberg, handed down the 2022/ 23 Federal Budget. Responding to the increased cost of living, the Budget provides several measures to support businesses and individuals by temporarily reducing fuel prices, tax relief for low-to-middle income earners, incentives, and superannuation changes.
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16 December 2021
A summary of recent tax developments and information that we hope you find interesting and useful. This update contains a wide range of information, with a particular focus on Director identification number requirements, Phase 2 of Single Touch Payroll, JobKeeper statistics, new stapled superannuation fund rules, and key upcoming tax dates.
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25 October 2021
Earlier this year, the government released a data standard for Director Identification Numbers, which follows on from the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020. The Treasury has now revealed the deadlines by which new and existing directors will need to apply for a director ID to avoid civil and criminal penalties.
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20 October 2021
A summary of recent tax developments and information that we hope you find interesting and useful. This update contains a wide range of information, with a particular focus on COVID-19 financial support measures available to businesses, tax on COVID-19 financial support payments, 2020-21 tax changes for businesses, superannuation for individuals, and key upcoming tax dates.
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28 June 2021
A summary of recent tax developments and information that we hope you find interesting and useful. This update contains a wide range of information, with particular focus on incentives to help businesses recover from the impacts of the COVID-19 pandemic, small business tax time errors to avoid, fringe benefits tax, year-end tax tips, and key upcoming tax dates.
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12 May 2021
On 11 May 2021, the Government handed down the 2021/22 Federal Budget. Whilst this marked a return to the traditional timing of the budgetary processes, the content of the 2021/22 Budget continues to remind us that our economy and way of life has still not returned to full normality post the events of COVID-19. Here is an overview on the announcement.
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12 May 2021
Federal Treasurer, Mr Josh Frydenberg, handed down the 2021/ 22 Federal Budget at 7:30 pm (AEST) on Tuesday, 11 May 2021. With the virus still a threat to the global and domestic economy, the Budget contains various measures to support businesses and individuals with job creation, incentives, tax relief, and superannuation changes. The tax highlights are set out in this post.
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25 February 2021
Here is our MGD Tax update containing up-to-date, relevant, and practical tax-related information, updates, and news. Our update contains helpful information specifically related to COVID-19 measures, what the ATO has been up to, other news, and key tax dates. Read on to find out information related to the JobMaker Hiring Credit, JobKeeper, two temporary measures to encourage business investment, varying PAYG instalments, and more.
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17 December 2020
In light of the recent Federal Budget announcement and the ongoing economic stimulus measures for individuals and businesses affected by COVID-19, here is our MGD Tax Update containing up-to-date, relevant, and practical tax-related information, updates, and news. Our update contains helpful information specifically related to small- to medium-sized businesses, including budget measures now law, a JobKeeper update, business tax tips, boosting apprenticeship commencements, and key tax dates.
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7 October 2020
Federal Treasurer, Mr Josh Frydenberg, handed down the 2020/ 21 Federal Budget at 7:30 pm (AEDT) on Tuesday, 6 October 2020. Australia’s economic response to the COVID-19 pandemic in the form of the original and extended JobKeeper scheme, the cash flow boosts, and the enhanced JobSeeker payment has come at a significant cost, Mr Frydenberg said, resulting in a budget deficit of $213.7b, falling to $66.9b by 2023/ 24. Here is an overview on the announcement.
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7 October 2020
Federal Treasurer, Mr Josh Frydenberg, handed down the 2020/ 21 Federal Budget at 7:30 pm (AEDT) on Tuesday, 6 October 2020. Australia’s economic response to the COVID-19 pandemic in the form of the original and extended JobKeeper scheme, the cash flow boosts, and the enhanced JobSeeker payment has come at a significant cost, Mr Frydenberg said, resulting in a budget deficit of $213.7b, falling to $66.9b by 2023/ 24. The tax highlights are set in this post.
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8 June 2020
As we approach 30 June, end of financial year planning has become more important than ever. We understand that due to the pandemic, your cash flow and retirement savings may have been severely impacted, your business’s turnover may have decreased substantially, or your regular PAYG instalments (prepaid tax) may have varied. In this paper, we have shared some strategies you may wish to consider.
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3 April 2020
The Australian Government has begun rolling out a considerable fiscal stimulus package in an effort to support and assist those individuals and businesses that have been negatively impacted by the unfolding Coronavirus (COVID-19) crises. We have collated the key measures announced and will continue to update this as further announcements are made.
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