Tax & GST Returns

As experienced Accountants who have lodged thousands of Income Tax Returns and Business Activity Statements, we can assist in ensuring that you pay the right amount of tax and GST.  We can teach you how to improve your record keeping yourself using a variety of software solutions or if you do not have the time or inclination, we can do it efficiently for you.

Self Managed Super Funds

At KP Partners we provide the professional advice you need to establish and operate your own Fund and prepare financial reports that you can easily understand and check on the financial performance of your Fund’s investments

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Tax Facts - Superannuation Guarantee

In addition to employees' salaries and wages, employers are required to pay superannuation contributions on behalf of all eligible employees. This compulsory contribution is called the superannuation guarantee. The definition of employee for this purpose includes certain contractors. The minimum contribution from 1 July 2014 is 9.5% of each eligible employee's earnings base (usually their ordinary time earnings) and must be paid within 28 days after the end of each calendar quarter. Employers must also provide employees with a choice of superannuation fund.

The minimum contribution rate will remain at 9.5% until 30 June 2021. After that date, the rate will increase by 0.5% each financial year until it reaches 12% from 1 July 2022.

Employers are generally required to pay superannuation contributions for employees if they are:

  • Over the age of 18 (no upper age limit applies)
  • Paid $450 or more (before tax) in a calendar month.

If an employer fails to make the minimum contributions for a quarter by the due date, the employer is liable for the Superannuation Guarantee Charge (SGC). The SGC comprises the unpaid contributions calculated on a higher earnings base, plus an interest charge (which is credited to the employee's superannuation account) and an administration fee. The employer cannot claim an income tax deduction for the SGC.

The Australian Taxation Office (ATO) provides the following tools to help you understand and meet your obligations:

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