What are the benefits of a Business Restructure?
Business restructure is a process that allows companies to change their organisational structure, operations, management, or ownership structure to improve their performance and remain competitive. While the process of business restructure can be complex and challenging, there are several benefits that companies can gain from it. Here are some of the key benefits of a business restructure: Improved efficiency and productivity: One of the primary benefits of a business restructure is improved efficiency and productivity. By streamlining operations and removing redundancies, companies can reduce costs and improve their overall efficiency, which can lead to increased productivity and profitability. Increased flexibility …
Negotiating Payment Plans with the Australian Taxation Office
Are you struggling to pay your tax debt in full? The Australian Taxation Office (ATO) understands that sometimes life can get in the way, and paying taxes on time can be difficult. That’s why the ATO provides payment plans to help taxpayers manage their tax debt over time. What is a Payment Plan? A payment plan is an agreement between the taxpayer and the ATO to pay the outstanding tax debt in regular instalments over a period of time. The payment plan is tailored to the taxpayer’s individual circumstances, such as their income, expenses and other financial commitments. Types of …
Payday Superannuation
On May 2nd, 2023, the Australian Government unveiled a new policy stating that starting from July 1st, 2026, employers will need to pay their employees’ superannuation contributions simultaneously with their regular salary and wages. This change has not yet been implemented into law, but its introduction date allows ample time for employers, payroll providers, super funds, and other stakeholders to prepare. The Treasury and the ATO (Australian Taxation Office) will collaborate closely with industry players and stakeholders in the latter half of 2023 to discuss and address any issues related to these changes. For further information please see the media …