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Recent Banks Group News

Superannuation guarantee obligations on termination of employment

March 13, 2015

When determining whether particular types of payments made by an employer to their employee are subject to Superannuation Guarantee, regard always needs to be had to the Superannuation Guarantee (Administration) Act 1992 (SGAA) and ruling SGR 2009/2. The key test …

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Offset accounts and redraw accounts – similar but different

March 5, 2015

In many ways, offset accounts and a loan redraw facility work very similarly — both allow a taxpayer to make additional payments against their loan in which case interest on their loan will only be repayable on the net balance …

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FBT & Christmas Parties

January 7, 2015

With the Festive Season well and truly upon us, it is worthwhile having a refresher of the Fringe Benefits Tax (FBT) implications of holding Christmas Parties. The provision of a Christmas Party for employees will be subject to FBT unless the Christmas …

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Banks Group is an association of independent firms that operate in both Melbourne and Sydney under the same trading name. Neither the Melbourne Banks Group firm or the Sydney Banks Group firm are partners or agents of each other and shall not be liable for any act or omission of each other.