How to Survive a Tax Audit

You open the mail and the first word you see is Audit, you suddenly get that sinking feeling in the pit of your stomach. The Tax office has selected you for an audit. Whether or not you are in the wrong, you know it is going to cost you. The ATO has increased the number of audits undertaken, WILL YOU BE NEXT? The ATO’s 2012-13 compliance program will focus on a number of compliance issues, including ‘Employer Obligations’. The main industries being targeted are the ‘Construction Industry’, ‘Cafes & Restaurants’, ‘Postal Services Industry’ and the ‘Cleaning Industry’. The compliance issues investigated under the ATO’s compliance program, relating to Employer Obligations include:
  • Correct treatment of Salary and Wage payments
  • Pay As You Go Withholding Obligations
  • Contractor classifications and payments
  • Superannuation Guarantee Surcharge
  • Employee Fringe Benefits Tax obligations
If you are to be successful in an...

Director, Vinay Sharma appointed Community Ambassador for the 2015 AFC Asian Cup

AFC Community AmbassadorDirector, Vinay Sharma was recently appointed a Community Ambassador for the 2015 AFC Asian Cup. Vinay joins other leaders from Melbourne’s multicultural communities to help make Asia’s premier football tournament a cultural celebration for the 2.5 million people of Asian heritage living in Australia. “Melbourne is home to people that have come from right across the Asian continent,” said Local Organising Committee CEO Michael Brown. “We are encouraging these people to come and support the Socceroos in January 2015, but also to support the country of their origin and to use the Asian Cup as an opportunity to celebrate their cultures. “Football, more than any other sport, crosses geographic and cultural boundaries and I am sure in January 2015 we will see people...

Starting a Business with absolutely nothing and building into a Thriving Enterprise.

Vinay Sharma with Hon John HowardDirector, Vinay Sharma in his capacity as the Chairman of Indian Executive Club (IEC) had the pleasure of meeting and hosting Australia’s second longest Prime Minister, Hon John Howard. Mr Howard was the keynote speaker at the IEC Awards Gala night held on 9th November 2013. Mr Howard in his address highlighted two of the things that stood out in a recent Mckinsey and Company report produced for the United Nations projecting forward the population of the world and the composition of that population. These two were firstly that by 2030 there will be 2.2 billion additional middle class consumers in the world, and 1.7 billion of those consumers will...
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