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- ATO waves a red flag on deductions for holiday rentals Just when many Australians are considering getting away for a mid-winter break, the ATO is reminding taxpayers that it is paying close attention to rental properties located in popular holiday destinations around Australia. The ATO recently issued a statement saying that last year it identified a large number of mistakes with deductions for rental properties,... Read more » 7.07.2017 | Read more
- Superannuation Watchout – Year End Contributions By Employers Employers need to be particularly vigilant in ensuring that all employee Superannuation guarantee and salary sacrifice payments are made well before 30 June 2017, for the following reasons: – All Fund member contribution caps reduce to $25,000 from 1 July 2017 (down from either $30,000 < age 50 or $35,000 if > age 49 in... Read more » 16.06.2017 | Read more
- Can You Differentiate Your Business? An important and ongoing task for management is to ensure that you can differentiate your business from your competitors. When you are developing a Capability Statement you need to be writing it so that you will “stand out from the crowd”. More…. 25.05.2017 | Read more
- The CGT implications of subdividing and building on the family property Given the state of the property market in Australia these days, a not-uncommon situation can arise where a residential property owner seeks to demolish and subdivide the block containing the family home and build residential units. More… 22.05.2017 | Read more
- Gumtree or Facebook Group Sourced Assets, and the realities of making a claim A recent case before the Administrative Appeals Tribunal (AAT) brought into focus a growing phenomenon that you should keep in mind for work-related or business expense deduction claims, especially where the acquisition of claimable assets is made in a certain way. More… 28.04.2017 | Read more
- Business Activity Statement Changes Coming The Australian government has announced changes to Business Activity Statements (BAS) to operate from 1 July 2017. Business Activity Statements are being simplified for small businesses and will only require small businesses to report: • GST on Sales • GST on Purchases • Total Sales More… 28.04.2017 | Read more
- What’s the weak link in your business? Use this quick guide to identify any potential weak links in your business, or as a reminder of what to monitor and improve. More… 23.03.2017 | Read more
- Can salary sacrifice work for you? Salary sacrifice (or salary packaging) is where you agree to take part of your wage as a benefit of some kind, equal in value to the salary it is exchanged for. The upside in you doing this is that your income tax is then based only on the reduced amount of salary that results. More…. 23.03.2017 | Read more
- Deceased Estates: A brief guide to tying up the loose ends After a person dies, and the usual arrangements are completed, there will come a time when other matters, such as tax and superannuation issues, must be looked after. The person who takes on the responsibility for administering a deceased estate is commonly referred to as the executor or a legal personal representative. More…. 8.02.2017 | Read more
- Extend the festive cheer (but in a tax-efficient way) The festive season is here again. As with other years it is always brimming with the spirit of giving. The list of practical ways in which Australians spread goodwill is as endless as a Christmas wreath. The ATO also gets into the spirit of the season, but of course feels required to set some limits.... Read more » 7.12.2016 | Read more