Company tax rate cut to offset Paid Parental Leave Levy The Government has reconfirmed its commitment to a reduction in the corporate tax rate in this year’s Federal Budget. However, the benefit of any rate reduction for many companies will be offset by the Government’s previously proposed Paid Parental Leave (PPL) Levy. The company tax…
The ATO has reminded taxpayers who want to claim family assistance payments for the 2014 financial year that they must lodge a claim with the Department of Human Services (Centrelink) by 30 June 2015 to be eligible. This deadline applies to taxpayers who intend to lodge a claim for: Family Tax Benefit; Child Care Benefit;…
Editor: The government announced on 28 December 2014 that they intended to simplify tax and superannuation reporting obligations through ‘Single Touch Payroll’. Under Single Touch Payroll, employers will be required to electronically report payroll and super information to the ATO when employees are paid, using Standard Business Reporting (SBR) enabled software. In addition, Single Touch…