As your business grows, one of the things you must focus on is your employer superannuation obligation. Many business owners feel it is just a pain because it can seem complicated to manage.
If a business has 20 or more employees, SuperStream contributions need to be implemented as soon as practicable.
Will SuperStream be impacting your business? If you have 20 or more employees, you have 100 days until (at publish date) you need to comply with the ATO’s SuperStream obligations.
Moving superannuation into a Self-Managed Superannuation Fund gives you better control of your finances and can even be used to help grow your business.
As the end of financial year approaches, here are seven simple strategies for reducing your tax as a small business.