Workers are owed over $3.6 billion in superannuation
guarantee according to the latest Australian Taxation Office estimates – a figure the Government and the regulators are looking to
dramatically change.
The net gap in SG has also declined from a peak of 5.7% in 2015-16 to 5.1% in 2020-21. The COVID-19 stimulus measures
helped drive up the voluntary contributions with the largest increase in 2019-20, which the Australian Taxation Office (ATO) says they
“suspect reflects the link between payment of super contributions and pay as you go (PAYG) withholding by employers. PAYG withholding is
linked to the ability to claim stimulus payments such as Cash Flow Boost.”
Despite these gains, a little adds up to a lot and 5.1% equates to a $3.6 billion net gap in payments that should be in the superannuation
funds of workers. Lurking within the amount owed is $1.8 billion of payments from hidden wages. That is, off-the-books cash payments,
undisclosed wages, and non-payment of super where employees are misclassified as contractors.
Employers should not assume that the Government will tackle SG underpayments the same way they have in the past with compliance
programs. Instead, technology and legislative change will do the work for them.
We provide strategic business and tax advisory, underpinned by our expertise in financial planning to ensure we develop financial structures that are smart and well considered.
Prepare Your Business for a Successful New Year - Challenging conditions, unpredictable supply chains, and increasing inflation highlight the importance of expert financial support.
A dedicated construction and trade accountant possesses an in-depth understanding of the sector's unique requirements and intricacies.
The journey often begins with businesses adopting simple ownership structures, yet as they progress and expand, intricate challenges emerge.
While any accountant can handle trade-related finances, opting for a specialist in the trades industry offers unique advantages.
Regularly monitoring your income and expenses is crucial. These practices will help keep your financial standing robust.
Several options when it comes to acquiring earthmoving equipment. One of the most common choices is to own the equipment outright.
According to the Australian Institute of Family Studies, more than half of Australian mothers expect their children to graduate from university.
Despite an increase in the region’s office vacancy rate the Gold Coast office market is facing a shortage of office space within the next three years.
Education is the gateway to unlocking opportunities and creating a brighter future. While various methods to establish an education fund, Investment Bonds are frequently contemplated.
Industrial assets are expected to retain their position as a favoured option among the commercial property market due to their strong relative returns.
A proficient financial adviser collaborates with you to understand your goals and overall desired financial and lifestyle outcomes
Despite the 13 interest rate increases in 19 months, your mortgage interest rate could and should still start with a ‘5’.
If you have an investment property loan and redraw on the loan for a different purpose the loan account becomes a mixed purpose account.
A recent case before the AAT demonstrates how fine the dividing line is between GST-free and taxable foods.
When it comes to financing your new car it’s possible to use either a low-doc car loan or a full-doc car loan.
A well-thought-out plan is the first step toward executing a cost-effective renovation.
Treasury has released draft legislation for consultation to enact the Government’s plan to increase tax rate superannuation balances above $3m from 15% to 30% from 1 July 2025.
Australian properties from overseas property seekers have risen 11.5 percent in the past three months. Meanwhile, rent searches are up 7.8 percent from the same demographic.
“Wage-theft” is illegal in Queensland, South Australia and Victoria under State laws.
The statistics on employer superannuation guarantee (SG) compliance look pretty good with over $71 billion, collected without intervention from the regulators in 2020-21.
A bridging loan allows you to acquire your next property before selling your current one, streamlining the transition between homes.
With inflation remaining high, interest rates are likely to stay at elevated levels for some time.
A crucial lesson for all budding startups is that maintaining a healthy cash flow is a pivotal factor in ensuring the long-term survival of your business.
Accountants play a crucial role in providing expertise and guidance to businesses during their startup and initial growth stages.
Aged care financial advice involves addressing a range of complex and unique issues that necessitate careful consideration.
Your credit score is an important factor that all lenders use to decide if they are prepared to lend to you.
As your business grows and evolves, your financial needs change too. Here are five signs that it might be time to consider upgrading to a larger, more specialised accounting firm.
Paying off your home loan reduces your mortgage debt and increases the equity you have in your property.
The Reserve Bank of Australia (RBA) may be nearing the end of its interest rate hiking cycle, but the Australian economy is already feeling the effects.
The recent rate hikes by the Reserve Bank of Australia (RBA) have understandably put borrowers under pressure.
Property investors that choose to utilise their property for short-term stays (or leave it vacant) are firmly in the sights of the regulators.
According to CoreLogic, the jump in prices marks the eighth consecutive month of growth which has also seen values increase 2.2% over the quarter.
Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on superannuation balances above $3m.
Before investing in a new truck or equipment, make sure you understand the fleet requirements of your major clients and any potential future partners.
As your business expands, the need for a specialised and strategic business accountant who can provide ongoing advice and guidance becomes increasingly evident.
The Australian Taxation Office have released a new draft ruling on self-education expenses.
With both domestic and international travel showing improvements, investment levels in hotel assets across the country has increased.
Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency.
In the wake of COVID-19, Australian offices have undergone a significant shift – and things aren’t likely to change anytime soon.
New listings have risen by 13.2% through the winter season, driven by a 17.9% rise across the capital cities.
ONLINE WEBINAR
28 September 2023 // 12:30 - 1:30p.m.
In today's ever-changing economic landscape, facing redundancy can be daunting, impacting both your financial and emotional well-being. This
webinar is tailored to address these concerns, offering practical insights and strategies to navigate the complexities of redundancy and
secure your financial future.
Spending more money doesn’t necessarily mean you’ll get a better outcome. In many instances, focusing on the basics can make a big impact and make your home more appealing.
The Federal Budget, delivered on the night of May 12 2026, was one of the most significant in years. We know you will have questions — and we have put together this document to answer the ones we are hearing most.
The 2026–27 Federal Budget brings major changes to CGT, negative gearing, trusts and super. Find out what it means for you and your business.
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