Director Identification Number
Under new legislation, all directors of Australian companies (existing or in the future) are now required to have a director...
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Insights by
Systema Group
Insights
Read about the latest topics in accounting firm services, business, finance and tax written by the Systema team.
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Systema Group
- Aug 16, 2021
- 2 min
Victoria Small Business COVID Hardship Fund
The Victorian Government recently announced a $10,000.00 support fund is available to small to medium businesses affected by the COVID...
Systema Group
- Aug 2, 2021
- 1 min
ATO Certificate for Lodgment Program 2020 - 21 Awarded to Systema Group!
Congratulations to the Systema team for achieving this result through such challenging circumstances. Given the hardships of COVID and...
Systema Group
- Jul 1, 2021
- 1 min
Superannuation Changes as of 1 July 2021
On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. For salary and wage payments made on or after 1 July 2021, the...
Systema Group
- Jun 4, 2021
- 2 min
VICTORIA CIRCUIT BREAKER BUSINESS SUPPORT PACKAGE
The Victorian Government recently announced a $371 million support fund to assist eligible small to medium businesses most affected by...
Systema Group
- Dec 10, 2019
- 4 min
DECEMBER 2019 TAX UPDATE
PAYG AND DEDUCTIONS FOR PAYMENTS TO WORKERS The ATO has reminded business taxpayers they can no longer claim deductions for certain...
Systema Group
- Nov 14, 2019
- 2 min
SUPER HUMAN TAX SAVINGS FROM 1 JULY 2019 USING THE CARRY FORWARD SUPER CONCESSIONAL CONTRIBUTION CAP
BACKGROUND From 1 July 2019, if you have a total superannuation balance of less than $500,000 on 30 June of the previous financial year,...
Systema Group
- Nov 10, 2019
- 2 min
WHY IS IT IMPORTANT TO STRATEGICALLY TAX PLAN ALL YEAR ROUND?
Forward-thinking the act of thinking about and planning for the future, not just the present. A forward-thinking business is one that...
Systema Group
- Oct 23, 2019
- 2 min
5 SMALL BUSINESS TRENDS WE SHOULD BE THINKING ABOUT AHEAD OF 2020
Small businesses with big data Big data is not exclusively suited for large businesses it can also assist small businesses in gaining a...
Systema Group
- Oct 21, 2019
- 2 min
WHY XERO?
We are now using Xero in our Accounting firm – Xero is an easy to use but powerful online accounting system that’s designed specifically...
Systema Group
- May 3, 2019
- 2 min
SINGLE TOUCH PAYROLL (STP) - ACTION REQUIRED BEFORE 1 JULY 2019
Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO. STP works by sending tax and super information...
Systema Group
- Apr 4, 2019
- 1 min
$30,000 INSTANT ASSET WRITE-OFF THRESHOLD FOR BUSINESSES WITH A TURNOVER OF LESS THAN $50M
The revenue threshold for accessing the $30,000 write-off has been raised from $10 million to $50 million, and it can be used multiple...
Systema Group
- Aug 28, 2017
- 2 min
A HIDDEN TAX ON DIVORCE: WHAT YOU NEED TO KNOW
Tax is probably one of the least concerns for two people in the unfortunate event of a divorce. However, often overlooked changes made by...
Systema Group
- Aug 22, 2017
- 2 min
“FOREIGN UNTIL PROVEN OTHERWISE”: NEW ATO RULE BURDENS AUSTRALIAN PROPERTIES SOLD ABOVE $750,000
As of the 1st of July 2017, a new ATO law regarding the sale of properties for more than $750,000 has come into action, affecting all...
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