We are pleased to supply you with the latest edition of Client Alert, which contains information on a number of important developments up to and including 17 September 2021:
- Federal COVID-19 support developments – The Prime Minister and Minister for Education and Youth recently announced new support for child care providers impacted by COVID-19 lockdowns.
- State and territory COVID-19 support developments – Expanded and additional support has been announced in most states and territories for a range of businesses and commercial tenants affected by COVID-19.
- Closing a business? Don’t forget the GST registration – If the current lockdowns and economic conditions have prompted you to sell or close your business, remember that you’ll need to cancel your GST registration within a certain period.
- New stapled super changes coming for employers – From 1 November 2021, if a new employee doesn’t nominate a super fund, their employer will need to determine if they have a “stapled” super fund and request details from the ATO.
- MySuper performance test results and new super comparison tool – This year marks the beginning of APRA’s annual performance tests on MySuper products. These were introduced to hold super funds to account for underperformance and enhance industry transparency.
Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.