Company Name vs. Business Name We often get asked to clarify the difference between a company and a business/ trading name, particularly when setting up businesses for our clients. What is a Company Name? Let’s start with a company name: It is a separate legal entity often followed by “Pty Ltd”, or “Limited” depending on…
What To Do When An Employee Keeps Calling in Sick The classic ‘sickie’. It’s part of Australian working folklore, and while most people can honestly admit to ‘chucking’ the occasional sickie, others can stretch the limits of their employers by frequently taking sick days for vague or elusive reasons. In some cases, it can get…
Garnishee Orders: What It Means For You and Your Business The Australian Tax Office (ATO) has several methods of recovering debt and have recently made an appearance in the headlines as they are facing an investigation over their garnishee orders, which appears to have become their preferred avenue and certainly we have seen an increased…
Xero Tips To Make Your Accounting Task Easier If you are using the Xero software in your business or considering a change to cloud-based software, then you need to keep reading! We understand that running a business can be extreme at the best of times, and the last thing you want to be doing is…
Clearance Requirements Before Selling Your House In the market to sell your house? Before you call in the real estate agents and home stylists, you probably know that you’ll need to have a contract of sale handy. Did you know that you may also need to get a capital gains withholding clearance certificate from the ATO?…
Advantage of Timing The Sale of CGT Assets At a time of the year when we are all focusing on getting our affairs in order and ready for tax time, for those of us who are that organised, we don’t always consider the timing of capital gains tax (CGT) events. If you have recently purchased…
ATO Finds Common Areas That Cause Concern For SMSF Trustees Are you the trustee of one of the approximately 577,000 SMSFs in Australia at the moment? As the SMSF sector continues to grow and the number of funds continues to increase, the workload of the ATO as the regulator increases. Instead of the rigid enforcement…
It’s tax time again! As you gather your receipts and other assorted tax documents, you should also turn your mind to what the ATO is paying close attention to this year. This year, the ATO is focusing on taxpayers who claim “other” work-related expense deductions at label D5 on individual tax returns. According to the…
[heading] Legislative Changes That Might Affect Your Business [/heading] Minimum Wage From 1 July 2018, the national minimum wage will increase in Australia by 3.5% The new national minimum wage is $719.20 per week, for a 38-hour week, or $18.93 per hour. The increase applies from the first full pay period starting on or after…
What is Superannuation Guarantee Amnesty? In May this year, the government announced the start of a Superannuation Guarantee Amnesty. The Amnesty is a one-off opportunity for employers to self-correct any past super guarantee (SG) non-compliance without receiving a penalty. Any catch-up payments made in the 12 month period will also be tax-deductible. The Amnesty applies…