Northcorp Accountants is an officially Covid Safe business. During the Covid-19 pandemic we have been rigorously implementing the NSW Government Covid safe guidelines to protect our staff and clients. We will continue to follow the latest developments to ensure we are doing all we can to limit the spread. If you have any questions please…

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With Coronavirus (COVID19) posing unprecedented challenges, we would like to let you know we are committed to supporting your during this time. We know that these are very difficult times for everyone.  We want you to know it is business as usual for servicing our clients. Our greatest priority at this time is the health…

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There has been an increase recently in the number and frequency of automated phonecalls. Some of our staff have received these calls on their private numbers. You can tell these call from a regular call as they sound like a recorded message, are quite threatening and require immediate payment of a debt. The scammers use…

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The Australian Taxation Office (ATO) has introduced rules that require purchasers of Australian Property costing $750,000 or more to withhold 12.5% of the purchase price and remit it to the ATO. This is to assist the ATO to collect foreign residents Australian tax liabilities. Australian resident vendors can avoid the requirement to withhold the 12.5%…

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There’s good news for those employers who have fallen behind in paying their superannuation guarantee obligations. The Minister for Revenue and Financial Services announced a commencement of a 12 month Superannuation Guarantee Amnesty (subject to new law). This is a one-off opportunity for employers to correct past super guarantee non-compliance without facing penalty. The Amnesty…

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The Royal Commission into the banking and financial services industry is only in its early stages yet the inquiry has already uncovered shocking revelations of dishonesty and misconduct within some of Australia’s largest financial institutions. To date, the Commission has heard evidence of appalling behaviour at Australia’s major banks – the so-called big four –…

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The Small Business Superannuation Clearing House is moving. If you use the Australian Taxation Office clearing house to report and pay your superannuation contributions for your employees you will need to note changes to the way you access the service. Please note if NorthCorp lodges your superannuation on your behalf or you use a clearing…

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Single Touch Payroll is coming. How will it affect you? The ATO is making changes to the way employers report information. Single Touch Payroll introduces the electronic reporting of payroll data to the ATO directly from your payroll system when you pay your employees.   Who does this change apply to? If you have 20…

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On Tuesday 9 May, the Federal Government handed down its Budget for the 2017–18 financial year. According to Federal Treasurer Scott Morrison, this year’s Budget is founded on the principles of fairness, security and opportunity. Mr Morrison claims that the government’s proposed measures will raise almost $21 billion in revenue over the next four years,…

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