News

November – 2017 Practice Update covers following points Reporting of transfer balance account information. ATO's occupation-specific guides. Binding Death Benefit Nomination ('BDBN') upheld. Reforms to stop companies avoiding employee entitlements. Can travel in an Uber be exempt from FBT? Click here for: November – 2017 Practice Update

October – 2017 Practice Update covers following points No small business tax rate for passive investment companies. ATO to be provided with more super guarantee information. ATO: Combatting the cash economy. Get it in writing and get a receipt. Higher risk trust arrangements targeted. Click here for: October – 2017 Practice Update

Starting a business begins with a great idea that is pragmatic and future oriented. It takes dedication to drive a business towards success. Success comes to those who think carefully about each business decision, and are devoted to turning the business into something bigger than what was initially expected. Even if your abilities and traits…

September – 2017 Practice Update covers the following points ALP announces massive (potential) changes to Trust Taxation. Single Touch Payroll update. Keeping ABN details up to date. Limited opportunity to avoid 'transfer balance cap' problems. New Approved Occupational Clothing Guidelines 2017. Ability to lodge nil activity statement in advance. Click here for: September – 2017 Practice...

Ideally, a business is run tirelessly and either passed on to the next generation within the family or sold off to the right buyer, at the right price. However, most business owners only gauge the value of their business when they decide to sell. This often leads to several lost opportunities during the tenure of…

Property is the product. The plan is the Key - To get rich you should be making money in your sleep How can One do this? Just imagine that you are a landlord of one or more rental properties that are returning 4% with the added benefit of capital growth of 7% to 10% per...

Business relations come in all shapes and sizes. They can range from your relationship with your supplier to relations with government officials who could be concerned with your business. These relationships are unavoidable and are usually easier to manage than business partnerships. Business partnerships are nearly akin to marriages as far as commitment and self-interest…

August – 2017 Practice Update covers following points ATO warning regarding work-related expense claims for 2017 GST applies to services or digital products bought from overseas Imposition of GST on ‘low-value’ foreign supplies New threshold for capital gains withholding Action to address super guarantee non-compliance Change to travel expenses for truck drivers Car depreciation limit…

2016/17 Individual Tax Return Checklist Depreciable plant, etc, costing $300 or less Clothing expenses Self education expenses Other work-related expenses 2016/17 Year-end Checklist for Business Maximising deductions for non-SBE taxpayers Prepayment strategies – non-SBE Accelerating expenditure – non-SBE Accrued expenditure – non-SBE Maximising deductions for SBE taxpayers Accelerating expenditure – SBE Prepayment strategies – SBE Click here…

July – 2017 Practice Update covers following points Removal of the Temporary Budget Repair Levy from the 2017/18 income year Extension of the $20,000 SBE Immediate Deduction Threshold Simpler BAS is coming soon Changes to the foreign resident withholding regime for sales of Australian real estate Change to deductions for personal super contributions Click here…