Late last year, the Government released a number of Tax and Superannuation measures in its Mid-year Economic and Fiscal Outlook (MYEFO). Tax Measures Cash payment limit — the 1 July 2019 start date for the proposed 2018 Budget measure to introduce an economy-wide cash payment limit of $10,000 will be [...]
Queensland’s building regulator, the Queensland Building and Construction Commission (QBCC), have announced changes as part of the Queensland Government’s security of payment reforms, which strengthen the Minimum Financial Requirements (MFR) for licensing. The first stage of these laws commenced on 1 January 2019. Background The QBCC has historically required that [...]
In a significant decision which has widespread implications for the future employment of casual employees, WorkPac Pty Limited v Skene  FCAFC 131 (WorkPac v Skene), the Full Court of the Federal Court upheld a decision finding that an employee - who was described as a casual, and paid accordingly, was in [...]
Family and Domestic Violence Leave From the first full pay period on or after 1 August 2018, all employees (including casuals) that are covered by an award will be entitled to five (5) days of unpaid family and domestic violence leave each year. Employees can take the leave if they [...]
Cooper and Associates Accountants. More than just tax returns, we are your one stop shop, providing the highest level accounting, business and financial planning services to small to medium businesses. Cooper and Associates Accountants. Where everyone counts.
Last night, the Treasurer Scott Morrison handed down the 2018-19 Federal Budget. Here are some of the key Budget Measures announced. Economic Update Estimated Budget Positions 2017-18 -$18.2 billion 2018-19 -$14.5 billion 2019-20 $2.2 billion (surplus) GDP 2017-18 2.75% 2018-19 3.00% 2019-20 3.00% Unemployment Rate 2017-18 5.50% 2018-19 5.25% 2019-20 [...]
1 April 2018 is the date stipulated by the Australian Taxation Office (ATO) to count the employees on your payroll for Single Touch Payroll purposes. If you have 20 or more employees on 1 April, you will need to start Single Touch Payroll (STP) reporting from 1 July 2018. If [...]
We are hearing a lot about (yet more) proposed changes to superannuation. This time the income tax paid by companies which is passed on through dividends to shareholders (including EVERY superannuation fund in Australia) is under fire. So here is the simple truth. Every cent in franking credit refunds for [...]
Today we congratulate our Cadet Accountant, Alice Melville. Alice has been awarded with CQ University's Academic Prize for achieving the highest GPA in a year of any student in Gladstone enrolled in the Bachelor of Accounting, Bachelor of Business or Bachelor of Accounting & Business academic programs. We've known Alice [...]
At its meeting today, the Reserve Bank of Australia decided to leave the cash rate unchanged at 1.50 per cent. This is now the 19th month in a row without a change.