Renee started with Harris Black in 1997 and has since progressed to become a Director in 2006. Renee has a Bachelor of Business (Accounting) from QUT and is a Fellow of the Chartered Accountants Australia and New Zealand.
Some interesting facts about Renee – if she could live anywhere, Renee would live near the water and the most relaxing place she has been to is her Mum and Dad’s place on the Tweed River. Renee learnt how to water ski from her Dad, but a skill she would like to master is piano. If she could only take 3 items with her to a deserted island, Renee would take a kindle, sunscreen, and an unlimited supply of champagne!
The concessional contributions cap is set to increase to $27,500 for the 2021-22 financial year (up from $25,000 since 2017-18).
The non-concessional contributions cap (which is set at 4 times the concessional cap) is $110,000 for 2021-22 (or $330,000 under the bring-forward rule over 3 years, subject to the other eligibility requirements).
The ATO advises that the “shortcut” rate for claiming work-from-home running expenses has been extended again, in recognition that may employees and business owners are still required to work from home due to Covid-19. This shortcut deduction rate was previously extended to 31 October 2020, but will now available until at least 30 June 2021.
Eligible employees and business owners therefore can choose to claim additional running expenses incurred between 1 March 2020 and 30 June 2021 at the rate of 80 cents per work hour, provided they keep record (such as timesheet or work logbook) of the number of hours worked from home during the period.
At the time you first commence a retirement phase superannuation income stream, your, “personal transfer balance cap” is set at the general transfer balance cap for that financial year.
Essentially, the transfer balance cap is a lifetime limit on the total amount of super that you can transfer into retirement phase income streams, including most pensions and annuities.
When the general transfer balance cap is indexed to $1.7 million from 1 July 2021, there won’t be a single cap that applies to all individuals. Rather, every individual will have their own personal transfer balance cap of between $1.6 million and $1.7 million, depending on their circumstances.
• Lodge and pay quarter 3, 2020-2021 PAYG instalment activity statement for head companies of consolidated group • Lodge and pay March 2021 monthly business activity statement
28 April 2021
• Lodge and pay quarter 3, 2020-2021 activity statement if electing to receive and lodge by paper and not on active STP reporter. • Pay quarter 3, 2020-2021 instalment notice • Make super guarantee contributions for quarter 3, 2020-21 to the funds by this date.
30 April 2021
• Lodge TFN report to closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020-2021
15 May 2021
• Lodge 2020 Tax Returns for all entities that did not have to lodged earlier and are not eligible for the 5 June concession.
21 May 2021
• Lodge and pay April 2021 monthly business activity statement
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