News & Events
The world of tax and business is everchanging.
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- Director Penalty Notices Changes coming to the Director Penalty Notice regime. The most dreaded weapon in the arsenal of the Australian Taxation Office (ATO) is the “Director Penalty Notice” (DPN) and its powers are being broadened and expanded to increase the liabilities for all directors. A DPN is a notice that the ATO can send to a director... Read more » 18.09.2018 | Read more
- Self-employed? You can claim a deduction for saving for your retirement A recent change to the rules around superannuation means that more Australians may be eligible to claim a tax deduction for putting money into super. Before June 30, 2017, if more than 10% of your income was sourced from salary or wages from an employer, you were rendered ineligible to claim any tax deduction for... Read more » 10.09.2018 | Read more
- Does Annual Leave Accrue Leave? If you have ever wondered the answer to this question, well here is the complete overview. Fundamentally, annual leave does accrue whilst an employee is on a period of paid annual leave. For employers subject to the National workplace system, section 87(2) of the Fair Work Act (the “Act”) 2009 states that “an employee’s entitlement... Read more » 16.08.2018 | Read more
- Claiming self-education expenses The value of a good education is widely accepted, and it is a common experience over one’s working lifetime to find that further learning is required along the path of one’s chosen career. Changing technology and evolving workplaces means that at some stage in every taxpayer’s life, an educational re-boot could become necessary — as... Read more » 2.08.2018 | Read more
- The future of business A newly released report into the outcomes of a wide-ranging survey of Australian and New Zealand businesses (from Chartered Accountants Australia and New Zealand) provides some interesting insights for all business owners to take note of. Businesses are facing unprecedented levels of uncertainty and competition. Two in five (39%) businesses surveyed say that maintaining profit... Read more » 16.07.2018 | Read more
- Tips for your tax return Before we sit down with you to go over your tax return, certain information will be needed. Of course these days pre-filling takes care of a lot of the “paperwork”, and if you wait until late-July or mid-August the ATO’s systems will most likely be able to provide most of the information from employers, banks,... Read more » 3.07.2018 | Read more
- Are You Being Scammed? We all get calls from the Australian Taxation Office and we tend to think a call from them is the real thing because honestly, who wants to pretend to be from the Tax Office? This common belief is being used by scammers to target individuals and small businesses. The Australian Taxation Office has released a... Read more » 21.06.2018 | Read more
- Builders: Get your taxable payments report ready before August 28 Businesses in the building and construction industry, take note – the deadline is August 28, 2018 to report the total payments you made to each contractor you enlisted the services of in 2017-18. You will need to report these payments to the ATO on the Taxable payments annual report. The taxable payments reporting system was... Read more » 7.06.2018 | Read more
- Business Trading Names & Registered Trademarks The national Business Names Register was introduced in 2012 and is managed by the Australian Securities & Investments Commission (ASIC). With the introduction of the national register, the Registrar of the Australian Business Register (ABR) stopped collecting and recording: Business names registered for an entity under the old state or territory laws; Unregistered names used... Read more » 21.05.2018 | Read more
- 2018 Federal Budget Undoubtedly the headline item from tonight is tax relief for individuals by lifting the 32.5% tax bracket to $90,000 from 1 July 2018 and the Government’s announcement of its intention abolish the 37% tax bracket in 2024-25. In the 2022-23 financial year we will also see the Low Income Tax Offset increased to $645 and... Read more » 10.05.2018 | Read more