News

May – 2017 Practice Update covers following points Company tax cuts pass the Senate with amendments Increase to the SBE turnover threshold Reduction in the corporate tax rate Changes to the franking of dividends Costs of travelling in relation to the preparation of tax returns FBT: Benchmark interest rate FBT: Cents per kilometre basis Click…

April – 2017 Practice Update covers following points Reduction in FBT rate from 1 April 2017 Lump sum payments received by healthcare practitioners Tax officers “hit the streets” to “help small businesses” Planned changes to GST on low value imported goods Company disallowed $25 million of carried forward tax losses Super changes may require action…

If this article heading stopped you dead in your track then you’re probably not aware of this possibility. In the light of an article recently published in the Sydney Morning Herald, we would like to inform you about the possibility of the ATO snooping around on your social media accounts to determine if what you’ve…

Each and every business, and career oriented individual is liable to pay tax. It might seem like you're losing your hard earned money, but taxation is a primary source for the country to keep developing new infrastructure, healthcare and much more. There are very few ways to minimise the amount of tax paid. However, people...

March – 2017 Practice Update covers following points ATO data regarding Super Guarantee non-compliance Ride-sourcing is ‘taxi travel’ Making ‘intangible’ capital improvements to pre-CGT assets Fringe benefits change for tax offsets from 1 July 2017 Diverting personal services income to SMSFs No overtime meal allowance, no overtime meal deduction Click here for: March – 2017 Practice…

February – 2017 Practice Update covers following points Changes to the ‘backpacker tax’ ATO data matching programs Ride Sourcing data matching program Credit and debit card and online selling data matching program Can a UPE be written off and claimed as a bad debt? Deductibility of expenditure on a commercial website Easier GST reporting for…

November – 2016 Practice Update covers following points Survey for SMSFs using LRBAs ATO warning for the building and construction industry Renting out a room is rental income Living overseas but still taxable here Crucial issue to consider when buying a company Click here for – November – 2016 Practice Update

A look at the rapidly booming home entrepreneur scenario Technology is giving us a lot more than knowledge about distant occurrences and innovations. It is providing us with opportunities that never really existed before. Bloggers are getting paid to review food items and wear the latest trends while freelance software developers are sparking technological revolutions…