With the number of Coronavirus cases growing daily, companies are becoming increasingly concerned and fearful of the damaging consequences the outbreak will have with many businesses already experiencing cash flow difficulties. With the virus now worsening and directly impacting business here in Australia most businesses are experiencing a tightening in cashflow as supply chains collapse…
Every business, no matter the size, needs effective bookkeeping. However, if yours is a small or medium business, it’s a possibility that you are a newcomer. A constructive bookkeeping process will ensure that you stay at the top of your business finances, being able to make better gains and utilise your funds in the best…
Practice Update March 2020 covers following points: Court confirms ATO’s position on foreign income tax offsets Employer’s requirements and the deductibility of WREs SMS scam targeting natural disaster victims Further STP developments STP and employer clients Valuing car parking fringe benefits Click here for Practice Update March 2020
The global economy has always been volatile, however modern day technologies and scientific advances have shortened the life cycles of various products and services, disrupting the traditional business model, and giving rise to more competition. In this scenario of constant competition and instability, it becomes all the more important to seek out fresh business opportunities…
Practice Update Jan-Feb 2020 covers following points: Lifestyle assets continue to be an ATO audit target Disclosure of business tax debts – Declaration made MYEFO – 2019/20 The ATO’s bush-fire crisis response Click here for Practice Update Jan-Feb 2020
Practice Update December 2019 covers following points: PAYG and deductions for payments to workers STP and superannuation guarantee No CGT main residence exemption for non-residents ATO November 2019 bushfire assistance Security notifications for SMSFs! Click here for Practice Update December 2019
The Christmas season is here! Festive celebrations, gifts and entertainment become common occurrences at the workplace during this time of year. However, most employers get a shock during the annual audit toward the end of the financial year, as they realise the overall cost of gifts and partying doubled up due to the Fringe Benefit…
Practice Update November 2019 covers following points: Super Guarantee Opt-Out for High Income Earners Now Law ATO Recommends Updating ABN Details for Natural Disaster Reasons Reporting Asset Disposals for CGT Government Passes Other Superannuation Legislations Super Lookup ‘Status’ will Change if SMSF Annual Returns are Late Taxpayer Liable for excess Transfer balance tax Despite Commutations…
With a staggering population of over 4.4 billion spread across over 50 countries, Asia has a distinctly diverse business landscape. Naturally, they are one of the most favoured consumer markets for international businesses. The diversified market and business environment are undoubtedly untapped goldmines; however, it has its own set of challenges. Its divergent nature makes…
Practice Update October 2019 covers following points: $30,000 Instant Asset Write-Off Federal Court Provides Clarification On the PSI Rules Deductions for a Company or Trust Home-based Business ATO Impersonation Scam Update Using the Cents Per Kilometre Method Measuring the Integrity of the ABR Click here for Practice Update October 2019
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