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Taxation
Warning – Tax Refund Scams and How to Avoid Them
January 20th, 2014There are a number of refund scam emails currently circulating. These emails claim to come from the Australian Taxation Office (ATO) and offer a tax refund. Generally, they link to a bogus ATO website asking for personal and credit card details. These emails can differ in their appearance and level of sophistication but will generallyread more
Director’s Responsibilities and Implications for PAYG and SGC
November 25th, 2013Are you a company Director? If so, are you aware of your PAYGW and SGC obligations? There are potentially harsh consequences for Directors failing to lodge Corporate PAYGW returns (i.e. BAS/IAS) and SGC statements on time. As a Director, if you fail to lodge those returns within 3 months of the required lodgement date youread more
Are you an employee or contractor?
October 15th, 2013The ATO has recently put together some tools and comprehensive information to assist businesses and individuals to work out whether they are an ‘employee’ or ‘contractor’. Links to the tools and information are below. Employee or Contractor If you are unsure about whether you are an employee or contractor, or whether you could be aread more
We Have a New Government – What does it mean for you and your business?
October 15th, 2013As a result of the recent Federal Election, the Coalition is now in power. What are their main tax proposals and what impact might they have on you and your business? Following is a summary of their foremost proposals. Personal Tax abolish the Schoolkids Bonus introduce a paid parental leave scheme from 1 July 2015read more
Quick Tax Tips
June 21st, 2013With the end of financial year fast approaching, here are some quick tips to help you save time and get more cash into your bank account. 1. Working from home - If you work from home, make sure you keep a diary of your internet usage and the hours you spend working. 2. Donations to aread more
End of Year Tax Planning Checklist
June 21st, 2013Small Business Entity Rules Small Business Entities - the small business entity rules apply to a sole trader, partnership, company or trust which has a group turnover of less than $2M in the previous year, or likely to be less than $2M in the current year. Depreciation Rules - if the asset costs less than $6,500 itread more
Individuals – A Quick Checklist of Changes
June 21st, 2013PERSONAL TAX OFFSETS The ATO have made major changes to the tax offsets available to individuals. If you have previously taken advantage of the following, you may have an increased tax liability for 2012/2013. Net Medical Expenses Tax Offset: For adjusted taxable incomes in excess of $84,000 (singles) or $168,000 (couples and families) the offsetread more
Do you operate a Trust? – 30 June Urgent Deadline
June 21st, 2013Trust Resolution Instruction Forms were sent to all applicable clients in April 2013. It is critical that these forms be completed and returned to the office before 30th June, 2013. Please note that this requirement to complete the Trustee Resolution has been a strong focal point of the ATO. If you require any assistance orread more
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