Practice Update – October 2020
Special COVID-19 Superannuation Condition of Release Extended
Regulations that extend the time frame of the special condition of release to access $10,000 from superannuation for individuals experiencing financial difficulties due to COVID-19 have been formally registered.
The ability to withdraw up to $10,000 from superannuation (if certain conditions are met) was initially set to expire on 24 September 2020.
Single Touch Payroll – Are you ready?
Employers with 19 or fewer employees are now required to start reporting through Single Touch Payroll (STP) from 1 July 2019.
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