Tag Archives: Accountants North Sydney

SBSCH and SMSF bank account validation

With the year-on-year growth in the number of SMSFs in Australia, the ATO is finally rolling out a extra security feature for SMSFs that use the Small Business Superannuation Clearing House (SBSCH) in terms of bank account validation.  Briefly, the SBSCH is a free, online superannuation payments service that small businesses can...
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No super, No Life!

I was travelling in Japan on a family holiday recently and browsing a stationary store came across a number of pictures with the caption “No Super, No Life”. This is probably more relevant in Japan where the annual basic aged pension is approximately ¥950000...
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New ASIC enforcement priorities 2024

With the end of the year fast approaching, ASIC has announced its enforcement priorities for 2024. While ASIC’s enduring priorities of market integrity, protecting financially vulnerable consumers, investigating misconduct impacting first nations people, investigating and preventing systemic failures and new or emerging conduct risks within the financial system continues to persist into 2024,...
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Proposed mechanisms for payday super

Unpaid superannuation is equivalent to wage theft and is detrimental to the retirement income of many Australians. That’s why in the 2023-24 Federal Budget, the government proposed measures to reduce the structural drivers of unpaid super guarantee (SG), including increasing the payment frequency of SG to occur at the same time as when salary and...
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