New Legislations and Guidelines For Financial Year 2019 The new financial year is now in full swing! So too are some of the new legislations and guidelines that may affect the way you report to the ATO for the 2019 financial year. First off, I encourage you to read our FBT blog (FBT Exempt Vehicles…
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?…
By Trevor Holmes – MD Advivo Innovation Commercialisation Partners Why do 90% of Commercialisation Projects Fail? What We Can Learn? Over the last decade we have seen an explosion of innovation; from start-ups to mid-tier businesses and large corporations, many businesses are feeling the realities of disruption and are seeking to innovate products, technologies and…
So I paid super a few days late…crucify me. Many small business owners often end up with superannuation paid late. This is especially the case when they’re trying to pay super quarterly as opposed to monthly. The black letter of the law actually denies businesses an income tax deduction for superannuation which is paid late. …
Happy new (financial) year and welcome to the 2019 Financial year! I don’t know about you, but I always find myself at the start of any new year looking back on last year and asking a few questions; How did I (we) go? What went well and what not so well? What could I have…
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…
Well, it is that time of year again! As usual, 30 June is always a very busy time for us in business. A time full of all of the extra things we have to do for those damn accountants. As well as the things we need to do before 30 June to save tax and…
Ipso Facto Legislation Passed Following ‘Safe Harbour’ As part of the federal government’s reforms on insolvency and assisting businesses to trade through difficult times without going into some form of administration, there have been two major legislation changes announced in last year’s budget. The first of these was the Safe Harbour Legislation for company directors,…
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