Xero Price Change

25 June 2021

Price Increase to Xero Subscriptions

Xero have announced a price increase due to offering increased functionality in the application. The increase will be effective from 23 September 2021 excluding Cashbook plans which will increase from 16 March 2022.

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10 Tax Tips for 2021

24 June 2021

As tax time approaches, our tax team has put together some helpful information for you for that 30 June deadline.
Please note that the following is general information only and taxpayers should seek detailed advice from their accountants before undertaking any strategy.

To follow is information on the following topics:

  1. Capital Gains Tax (CGT)
  2. Prepaid Expenses
  3. Bad Debts
  4. Uncapped Immediate Write-off for Depreciable Assets
  5. Superannuation Contributions
  6. Single Touch Payroll (STP)
  7. Company Tax Rate Change and Dividends
  8. Division 7A Loan Agreements and Minimum Repayments
  9. Individual Tax Rate Changes
  10. Non-complying Payments

Each topic includes a link to the ATO website for more information.


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Superannuation Changes from 1 July 2021

24 June 2021

Changes to superannuation will be taking effect on 1 July 2021.
We have outlined the key changes and information for you.

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Increase in Super Guarantee & Minimum Wage

22 June 2021

On 1 July 2021, the superannuation guarantee and minimum wage will increase.

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Halving of Minimum Pension Draw Down Rates

7 June 2021

An Extension of the Temporary Reduction in Superannuation Minimum Drawdown Rates

In an effort to assist retirees during the coronavirus pandemic, the Government introduced a temporary 50% reduction in superannuation minimum drawdown rates. This reduction was set to end this financial year but has been extended to 30 June 2022 to include the 2021-22 financial year.

Minimum annual payment requirements, calculated on 1 July each year, will be affected by the extension.

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