To create your third blog post, click here to open the Blog Manager. Edit your Published Post entitled ‘This is the title of your third post’, add your own text, images or videos, and click ‘Publish’! From the Blog Manager you can also add a brand new post in a breeze… #investments #stockmarket
It’s important that all clients’ tax issues are finalised before they cancel their Australian business number (ABN), which ceases that business. This allows us to finalise their account and issue any refunds owing to them. Lodgment and payment Make sure all lodgment and payment obligations are met, including: outstanding activity statements outstanding instalment notices final …
A disabled taxpayer has been denied a deduction for his wife’s travel costs where she accompanied him to conferences overseas: Re WTPG and FCT [2016] AATA 971 (AAT, Ref No 2015/6427, Forgie DP, 30 November 2016). Background In September 2013, the taxpayer spoke at a conference in the UK about his employment duties in Australia. …
Joanne Black, a property developer, bought land in January 2000 for $300,000 and constructed a house on it. In January 2016, she sold the house and land for $640,000. As at 1 July 2000 the house had been partly constructed. Joanne was registered for GST and incurred the following costs: $ Land at cost 300,000 …
This case study demonstrates how Hair Salon owners worked with their Accountant to create an effective low-cost marketing campaign which targeted lapsed and new customers to increase sales. The campaign was traditional but effective. About The Client A Client runs a small funky hair salon in New York. They decided it was time to move …
The impact of late client payments on SMEs is worsening, with big businesses identified as the main culprits of late payments, research from the Late Payment Times and Practices Inquiry reveals. Early survey results from the Late Payment Times and Practices Inquiry (LPTPI) – which is working in conjunction with the Australian Small Business and …
So, you’re starting a business. You have a vision, a business partner and you’re bright-eyed. You and your business partner have agreed in principle how the business will be run. For any other matter, you’ll deal with it as it arises. Good idea? Probably not. It is essential for you and your business partner to …
Why You Need a Partnership Agreement For Your Business Read More »
Cash flow is the lifeblood of any business, yet sourcing adequate working capital can be a challenge for many, even businesses that are profitable and have a strong growth trajectory. The concerns raised in the late 2016 House of Representatives Standing Committee on Economics report into the banking sector suggest that the banks are not …
The ATO has released Law Companion Guideline LCG 2016/9 to explain aspects of the new $1.6m pension transfer balance cap. Transfer balance cap As part of the super reform legislation, new Div 294 of ITAA 1997 introduces the concept of a “transfer balance cap” from 1 July 2017 to limit the amount of capital individuals …
The ATO has Law Companion Guideline LCG 2016/12 on how an individual’s “total superannuation balance” will be calculated from 30 June 2017. As part of the super reforms, the concept of an individual’s “total superannuation balance” will apply from 1 July 2017 as a method for valuing an individual’s total superannuation interests. An individual’s total …
