Superannuation Guarantee: What Employers Need to Know
Missed or late super payments are a top ATO concern, especially with the super guarantee rising to 12% from July 2025. Background The Australian Taxation Office is closely monitoring employer compliance with the Superannuation Guarantee. Employers must ensure contributions are made on time and lodged correctly, allowing sufficient time for payments to clear and be […]
ATO Reviews and Correspondence
Proactive engagement with the ATO is critical, as early, thorough responses not only demonstrate a genuine intention to comply but can also prevent audits, minimise scrutiny, and significantly reduce ongoing compliance risks. Background The ATO has received nearly $1 billion in extra funding to increase audits, debt recovery and compliance enforcement. This means businesses and […]
Division 7A: Key Issues for Accountants in 2025
Division 7A continues to be a high-risk area for private groups and family businesses. The ATO’s attention on private company loans, unpaid present entitlements (UPEs), and related-party arrangements is sharper than ever. Accountants need to ensure compliance to avoid unintended deemed dividends and associated tax consequences. Key Areas to Watch 1. Unpaid Present Entitlements and […]
Division 7A and Bendel: Should Taxpayers Get Excited?
The ATO’s loss in Bendel could open the door to tax planning opportunities for trusts, but Subdivision EA, section 100A, and other provisions remain lurking risks. Background Division 7A remains a key focus area for accountants advising private groups and family businesses. The Australian Taxation Office continues to scrutinise: Private company loans Unpaid present entitlements […]
Tricks and Traps: Claiming the Division 152 Small Business CGT Concessions
The Division 152 CGT concessions can deliver substantial tax savings for small business owners, but a single oversight can result in losing them entirely. Background The Division 152 small business capital gains tax (CGT) concessions are among the most generous provisions in the Australian tax system. For eligible business owners, they can eliminate or significantly […]