Our latest eNewsletter includes information on the following topics:

Tax implications of having more than one job – If you’re working two or more jobs casually or have overlapping contract work, you need to be careful to avoid an unexpected end of financial year tax debt.

Closely held payees: STP options for small employers – Small employers with closely held payees must begin single touch payroll reporting from 1 July 2021.

ATO data-matching: JobMaker and early access to super – The ATO is kicking into gear in 2021 with another two data-matching programs related to the JobMaker Hiring Credit and early access to superannuation because of COVID-19 financial hardship.

Super transfer balance cap increase from 1 July 2021 – If you’re nearing retirement and have a large amount in your transfer balance account, it may be wise to delay to take advantage of the upcoming pension transfer cap increase to $1.7 million.

Your Future, Your Super legislative changes – Treasurer Josh Frydenberg has said the measures in a new superannuation Bill are intended to save $17.9 billion over 10 years by holding underperforming super funds to account and strengthening protections around people’s retirement savings.