Answers to your questions around the introduction of director identification numbers
The concept of director identification numbers has been discussed since 2015 and is just one measure in a package of reforms now legislated to help prevent phoenixing. The new requirements provide for proper verification of director’s identities and a single, centralised record for each individual director. We answer some common questions around the introduction of DIN’s. read more
Proposed cash payments limit legislation abandoned
A cash payments limit was first mentioned in the 2018-19 Federal Budget as a way to tackle the black economy, which has been estimated at being worth up to $50 billion a year. Following this, the Government moved to introduce a $10,000 cash payments limit through the Currency (Restrictions on the Use of Cash) Bill 2019. This bill was abandoned on 3 December 2020. read more
Beware ATO actions to recover tax and superannuation debt
The ATO can take various actions to recover debts. The action taken is tailored to each individual situation and based on the circumstances, past behaviour and lodgment and payment history. read more
ATO to further punish non-compliance with PAYG obligations from 1 July 2019
Now, the ATO has added another incentive for PAYG compliance. From 1 July, businesses that fail to comply lose the ability to claim the corresponding payments as a tax deduction. read more
Do you need a permit to employ children in the family business?
Some employers may be unaware that there is legislation that governs the employment of children, which should be considered before they are brought into the workplace. This is relevant even when the children to be employed are relatives of you or your employees. read more
What does Victoria’s new Labour Hire Licensing Scheme mean for businesses in Australia?
The legislation affects individuals and/or entities that make arrangements to hire or host labour hire from Victoria. Labour hire providers are now required to obtain a license and must lodge annual reports on their labour hire activities. read more
Single Touch Payroll (STP) reporting now updated and for all employers
Now legislation has been passed so that businesses with up to 19 employees are legally required to complete STP reporting from 1 July 2019. The new legislation also extends the scope of STP reporting to include some salary sacrificed amounts. read more
3 New Rules for Gift Cards to apply from 1 November 2019
So what are the 3 new rules for gift cards? All gift cards sold in Australia from 1 November 2019 must meet the following requirements: 1 - They must be valid for a minimum of 3 years from the date of purchase, 2 - The gift card itself must prominently display either the actual expiry date or the the date the card was purchased and a statement about the length of validity, if it doesn't expire it should state words to that effect instead, 3 - No 'post supply' fees can be charged for the use of the card. read more
What happens if you have a data breach? Mandatory notification laws introduced
On 22 February 2018 the Privacy Amendment (Notifiable Data Breaches) Act 2017 came into effect in Australia. This amendment puts an obligation on businesses to notify affected individuals and the Australian Information Commissioner where personal information is breached that is likely to result in serious harm to the individuals concerned. read more
ACCC gets tough on excessive surcharges
The Australian Competition and Consumer Commission (ACCC) is cracking down on businesses charging customers excessive surcharges for paying with credit and debit cards. read more

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