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It seems to be increasingly common to hear of large organisations underpaying their staff and while many organisations are caught out, Australian grocery giant Woolworths appears to be attempting to be on the frontfoot, announcing it had plans to remediate long-term underpayment.

As we discuss in our first article this month, it's not just income that's underpaid – it's super, and that comes with penalties. Also this month we look at capital gains and the main residence changes introduced by the Government, changes to vacant land deductions, new rules for calculating the super guarantee, and just what powers the ATO has when it comes to garnishing your money.

As always, if you have any queries, contact our team on 9957 4033.

	Are you paying your staff correctly? Woolworths is the latest company to face a fallout from underpaying their staff, but it's not just wages-it's also super and the penalties that come with not paying the right amount.
	CGT and the family home: expats and foreigners targeted again The Government is again attempting to remove access to the main residence exemption for non-resident taxpayers-a move that will have impacts on expats and foreign residents.
	Vacant land deduction changes hit 'Mum & Dad' property developments Legislation passed through Parliament in October 2019 that prevents taxpayers from claiming deductions for expenses incurred for holding vacant land-and not only is the legislation retrospective, it goes beyond purely vacant land.
	Calculating Super Guarantee: The new rules Employers will not be able to reduce the amount of super guarantee payable by using an employee's salary sacrifice contributions.
	Can the tax office take money out of your account? Your right to know Have you seen the recent spate of media freedom advertising about Your Right to Know? It's prime-time slot stats that the ATO can take money from your account with your knowledge-but what are the actual powers that the ATO has?
	Single Touch Payroll – options for late adopters Many SMEs have struggled to adapt to the Single Touch Payroll and the ATO has released guidance on how to transition to reporting via STP

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Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.