Build your financial security with OBT Financial Group – Lockyer Valley’s Business of the Year 2015 and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 30 years.
From 1 July 2022, two important super guarantee (SG) changes will apply to your business: here’s what you need to do.
Tax planning factsheets for 2022
With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2022 to reduce your tax and grow your wealth.
Government’s Stimulus Package in response to COVID-19
To help you gain a better understanding of the government stimulus measures that you may be able to access, we have summarised the key developments as they stand so far.
Meet your PAYG Withholding Obligations or lose your tax deduction
Are you meeting your Pay As You Go (PAYG) Withholding obligations? If you are running a business, you can no longer claim deductions for payments to employees or workers if you have not met your PAYG obligations. This applies to tax returns lodged for the 2020 year onwards
No tax deductions for unmet tax obligations
Don’t lose your tax deduction for your employee or contractor payments. Do lodge your BAS on time and lodge your STP events every time you pay wages and withhold the correct amounts from your payments to employees and subcontractors. Read why.
On-time BAS lodgement important more than ever
Read why, from 1 July 2019, if you don’t meet your PAYG withholding obligations for your workers, by not deducting tax from their payments and not reporting it to the ATO, you could lose your deduction.
A leap year can also cause your tax to leap
As this year is a leap year, some of you might receive an extra pay period. If you are paid weekly or fortnightly then the number of fortnightly pay periods could be 27, instead of the usual 26, and the number of weekly pays could… Read More >>
MyGov information for OBT clients
As part of the MyGov initiative the Australian Taxation Office is making more services available online. This means that important tax information will be sent to you electronically via MyGov instead of by mail to our office. If you have a MyGov account linked to… Read More >>
