The ATO’s New BAS Lodgment System The ATO is introducing a simpler BAS lodgment system from 1 July 2017. This will apply to small business entities with a GST turnover of less than $10 million. If you are a small business, you will only need to report: Total sales (G1) GST on sales (1A) GST…
Are you ready for 30 June? The end of financial year is upon us again and the team here at Advivo are already busy preparing Tax Planning and Forecasting for many of our monthly clients. Fred Chang has prepared the below checklist for businesses to get ready for the end of financial year. If you…
New legislation from the Government, yet to pass, states that from 1 July 2017, the ATO will be able to disclose debt information to credit reporting agencies of taxpayers that are not effectively managing their debts with the ATO. To avoid this affecting taxpayer’s credit rating, the ATO encourages payment of taxation debts in a…
Estate Planning, Superannuation and Taxes Unfortunately the attendance on the night was adversely affected by traffic chaos, thank you for those of you who did attend and those that could not make it there please find attached the powerpoint slides for the night. On the night, amongst other things, Dale spoke about death & tax…
The 2017 budget was released last week, we strongly urge you to look at our budget review which highlights how business and individuals may be affected by the budget changes. It’s that time of year again for Tax Planning, as we’ve highlighted in a number of previous correspondence, there have been several important legislative changes…
Tax Incentives For Businesses on R & D Are you aware of R & D tax incentives that can help drive innovation and value for your business? If your business engages in activities designed to improve a product or service that you take to market, you may be eligible for lucrative cash refunds for expenditure…
CGT Retirement Exemption: Conditions For Eligibility The capital gains tax (CGT) retirement exemption allows your small business to sell active business assets and disregard some or all of the resulting capital gain – meaning also disregarding the associated CGT – as long as you use the money from the sale in connection with your retirement.…
Advivo Tests Out Yodal – A New Estate Planning Tool At Advivo we are always looking for ways to do things better. In our Estate Planning area, we recently started using a new software called Yodal to manage the legal side of the process. Yodal allows our clients to use their solicitor of choice, via…
Welcome to the Advivo 2017 Budget Review Like most budgets the 2017 budget has met mixed reviews from business and individuals. From a small business owner’s perspective the extension of the $20,000 capital asset purchase immediate write off is positive. However the flow on effects from the “big bank tax” may have adverse effects on…
We’ve known for a while that small business entities (SBEs) have had until 30 June 2017 to take advantage of being able to claim an immediate deduction for assets costing less than $20,000. So what’s all the fuss about now? The Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016 has now been passed by the…
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