Business Alert at 9:00am with CVA

Clear Vision • July 3, 2018

Claiming personal super contributions from 1 July 2017

We know from 1 st July 2017, individuals who are employed are now able to claim a tax deduction for contributions made into their superannuation fund. To be able to claim such a deduction for personal contributions, (assuming you’ve satisfied the basic conditions in Subdivision 290-C being age, resident, have taxable income etc) you must give the correct valid written notice of intent to claim a tax deduction to the trustee of the superannuation fund. Your superannuation fund should have already sent you these forms to complete.

Once the trustee of the super fund has received the notice of intent to claim a tax deduction for super contributions, they will reply with an acknowledgement of receipt of the form. It’s this acknowledgment that the ATO will request a copy of as part of an audit. Under the Tax legislation, you need to have received the acknowledgement BEFORE you lodge your income tax return. So when your trustee does send you something, don’t put it in the too hard basket – fill it out or ring Justin to check. It will get your tax refund back in your hand quicker.

By Caroline Gillies July 13, 2025
Running a business isn’t just about making sales — it’s about making enough sales to cover your costs and pay yourself what you deserve. But how do you figure out how much turnover (aka revenue) you actually need to make each month? Knowing this number helps you: Set realistic sales targets Price your products or services properly Know when to cut costs or increase margins Understand when your business is sustainable This isn’t just about numbers — it’s about clarity and control. Once you know your required turnover, you can stop guessing and start planning. Whether you’re a solopreneur, a growing startup, or a small business owner, this is the foundation of making your business work for you — not the other way around. We love numbers — seriously. And we get that not everyone does. If you need help breaking things down in a way that’s simple, practical, and actually makes sense (even if numbers aren’t your thing), call Clear Vision Accountancy Group today on 4688 2500.
By Caroline Gillies June 22, 2025
From 1 July 2025, the Superannuation Guarantee (SG) rate in Australia will increase to 12%. This means employers will be legally required to contribute at least 12% of an eligible employee's ordinary time earnings to their superannuation fund. This increase is the final step in a legislated rise from 9.5% in 2021 to 12% by 2025, aimed at boosting retirement savings for Australian workers. If you use Xero for payroll, the SG rate should automatically update in the system. However, we recommend you double-check your payroll settings to ensure everything is correct. If you’re unsure or need assistance, please contact your bookkeeper or get in touch with us at: Clear Vision Accountancy Group (07) 4688 2500 We’re here to help you stay compliant and avoid any costly errors.
By Caroline Gillies June 1, 2025
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