Newsletter - July 2023
Welcome to the NCS Group client information newsletter, your monthly tax and super update keeping you on top of the issues, news and changes you need to know.
- Super guarantee (SG) increases to 11%
What happens when income earned before 30 June is paid after 30 June 2023 - will employees be entitled to the higher SG rate of 11%? - Superannuation and the right to delegate.
Another key Federal Court case may have a bearing on whether you owe certain workers you engage superannuation guarantee or not. - Is now time for a restructure?
The new financial year can be a time where business owners look at their operating structure and consider whether it still meets their needs. - Fair Work changes.
Although not related to tax, there are a number of changes on the Fair Work front that employers should be aware of. - Small business lodgement amnesty.
Since Budget night, the ATO has released more information around the small business lodgement amnesty...which can now be taken advantage of from 1 June 2023. - Work-related car expenses updated.
The ATO has just announced that the cents per kilometre rate has increased to 85 cents per kilometre for 2023/24.
To find out more about the above topics, follow the link below.