Superannuation is required to be paid by all employers on behalf of their employees. At the moment, the minimum superannuation guarantee amount is equal to 9% of an employee’s base wage. However from 1 July 2013 due to changes to the Superannuation Guarantee Act, the compulsory rate has been increased to 9.25%. This is the beginning of a number of superannuation reforms that will be slowly introduced from 2013 to 2019, at which the end of, the superannuation guarantee rate will be 12%. This means that from the September 2013 Quarter, superannuation must be paid at that rate by all employers. ..

More than $74 billion of revenue collected by the ATO in the last financial year came from SME’s and wealthy individuals. This is over a quarter of all revenue collected. The ATO has received additional funding to further increase compliance activities that target profit shifting of high wealth individuals. ..

Recently, we had a client who was the owner of two blocks of land that were adjacent to one another. He lived in a dwelling on one block, and had a small garden, non-commercial shed on the other block. This year, he sold both blocks of land and he contacted us regarding his Capital Gains Tax liability. Our client wanted to know if a main residence exemption from Capital Gains tax would apply to both blocks of land, or just to the one on which his dwelling was located. The two blocks were purchased at the same time, under the same transaction, however they were held under separate titles which caused some confusion. ..

Beames is now a XERO Certified Partner! ..

High Performance Culture (HPC) is constantly striving to be the best you can possibly be.  It is about having the vision, the passion and the plan to perpetually improve and develop; to constantly be at the forefront of whatever it is that you do.  ..

According to Ross, ‘Only fools and horses’ continue to be in and do the same thing week in week out and business expect a different outcome… and he says ‘maybe that’s a good definition of insanity as well’. ..