Recent Posts by bpadmin

Dealing With An Excess Super Contributions Determination

Just when most people thought they had finalised their income tax obligations for 2017-18, the ATO has begun issuing determinations for individuals who exceeded their concessional super contributions cap. Concessional contributions include all employer contributions, such as the 9.5% superannuation guarantee and salary sacrifice contributions, and personal contributions for which a deduction has been...

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Deemed Dividends: Changes Are Coming

If you own a private company, deemed dividend payments or Div 7A may be familiar to you. In short, it is designed to ensure that income is not inappropriately sheltered in corporate structures at the corporate tax rate. It usually applies when a private company provides a benefit to a shareholder (or their associate), and...

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Director Identification Numbers Coming Soon

Being a director of a company comes with many responsibilities, this could soon increase with a government proposal to introduce a "director identification number" (DIN), a unique identifier for each person who consents to being a director. The DIN will permanently be associated with a particular individual even if the directorship with...
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Corporate Tax Rates: Recent Changes Give Certainty

There are two categories of companies when it comes to the corporate tax rate. The two categories are determined by turnover and business activity. The rate of 27.5% applies to corporate tax entities known as "base rate entities". What is a base rate entity? Put simply, it is a...
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