Bonsella October 2021 Newsletter

September 21

Our latest eNewsletter includes information on the following topics:

Federal COVID-19 support developments – The Prime Minister and Minister for Education and Youth recently announced new support for child care providers impacted by COVID-19 lockdowns.

State and territory COVID-19 support developments – Expanded and additional support has been announced in most states and territories for a range of businesses and commercial tenants affected by COVID-19.

Closing a business? Don’t forget the GST registration – If the current lockdowns and economic conditions have prompted you to sell or close your business, remember that you’ll need to cancel your GST registration within a certain period.

New stapled super changes coming for employers – From 1 November 2021, if a new employee doesn’t nominate a super fund, their employer will need to determine if they have a “stapled” super fund and request details from the ATO.

MySuper performance test results and new super comparison tool – This year marks the beginning of APRA’s annual performance tests on MySuper products. These were introduced to hold super funds to account for underperformance and enhance industry transparency.