Superannuation has always been a key responsibility for Australian employers. With the introduction of Pay Day Super, the way employers must pay superannuation is about to change significantly. If you employ staff or contractors who are eligible for super, this update directly affects you. Understanding your obligations now will help you stay compliant and avoid unnecessary penalties later. Here is everything you need to know. What Is Pay Day Super? Pay Day Super is a new requirement that...

Why BAS Deadlines Matter For Australian businesses registered for GST, lodging a Business Activity Statement (BAS) on time is a legal obligation. Your BAS reports GST, PAYG withholding, PAYG instalments, and other taxes. Deadlines vary based on whether you lodge monthly, quarterly, or annually. Missing the due date can lead to costly penalties, interest and unnecessary stress. Consequences of Lodging Your BAS Late 1. Failure to Lodge Penalties The ATO can issue a Failure to Lodge (FTL) on...

The Australian Taxation Office (ATO) will no longer allow tax deductions for General Interest Charges (GIC) or Shortfall Interest Charges (SIC) from 1 July 2025. This update, passed by Parliament in March 2025, could affect how small businesses handle their overdue tax debts and financial planning. What Has Changed? Currently, businesses can claim GIC and SIC as tax deductions, slightly reducing the burden of ATO interest charges. With the new rules, these deductions will be eliminated,...