ASIC cracking down on SMSF auditors for conduct issues
As a trustee of a Self-Managed Superannuation Fund (SMSF), we believe it is crucial to keep you informed about recent developments that may have implications for your fund. The Australian Securities and Investments Commission (ASIC) has taken significant action against certain SMSF auditors to ensure compliance with regulatory obligations and maintain the integrity of SMSF…
Read MoreThe Low and Middle Income Tax Offset (LMITO) has ceased
In recent years, income tax payable by individuals has been reduced by the LMITO, an offset introduced by the government in 2019. This offset will cease after the 2022 financial year and the government has not announced any plans to reinstate it. Starting from the 2023 financial year, Individuals should be aware that their tax…
Read MoreDigitally Sign your tax return with FuseSign
Due to the need to keep our client’s personal information secure, we no longer send sensitive information via email. FuseSign is a digital signature tool that allows you to log into a secure area where you can view, sign, and download documents. When the time comes to sign your tax returns and other documents, NorthCorp…
Read MoreNorthcorp Accountants is an officially Covid Safe business.
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…
Read MoreNorthCorp is still open for business despite COVID19
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…
Read MoreFake ATO robocalls
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…
Read MoreDo you receive invoices via Email? Be very careful, the fraudsters are about!
Email is a very convenient means of communicating, you can send an email now knowing it will patiently wait for the receiver to read it. This ease of use has increased the popularity of email so much that now many businesses send their invoices to customers and other businesses this way. However we are seeing…
Read MoreAre you selling a residential property for more than $750,000 in Australia? Do you need a Capital Gain withholding clearance certificate?
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%…
Read MoreGreat time to catch up on late superannuation guarantee payments!
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…
Read MoreThe Royal Commission into Financial Services
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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