Pursuant to the Corporations Act, a creditor that is owed more than $2,000 is eligible to issue a statutory demand against a company requiring it to […]
For every property transaction that you make there may be a GST consequence you need to consider. If you are making transactions involving property you […]
The ATO’s Project DO IT (Disclose Offshore Income Today) offers taxpayers with unreported income from offshore investments, the opportunity to make a full voluntary disclosure. In […]
Recent press coverage of special dividends and capital distributions from some of Australia’s largest listed companies has prompted a range of inquiries from clients who have […]
There has been increased ATO audit activity in the small business sector particularly where the ATO has used small business benchmarking. Benchmarks are financial ratios developed […]
The Australian Tax Office (ATO) has issued draft guidelines for the risk assessment and audit selection for professional practices for compliance reviews related to 2014/2015 […]
SMSFs – SuperStream deferral We sent out a newsflash in March this year regarding the new electronic data and payment requirements of the ‘SuperStream’ system to […]
New appointments We are very pleased to announce the appointment of two new members to the Allworths team, Colleen Hosking and Sophia Tong. Colleen joins us […]
SuperStream is a government reform aimed at improving the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees […]
Christmas The office will officially close on Friday 20 December 2013, and re-open Monday 6 January 2014. We wish all our clients, colleagues and families all […]
Small business (those with an aggregated annual turnover of less than $2 million), have only 4 weeks to take advantage of tax benefits of the “Instant […]
Tax Office reacts to superannuation funds selling assets after entering pension phase The ATO has issued a Draft Taxation Determination (TD 2013/D7) that self managed superannuation […]
Self-education expenses cap delayed The Government has decided to defer the introduction of the $2,000 cap on work related education expense deductions until 1 July 2015. […]
Private Health Insurance Rebate From 1 July 2012 private insurance premiums are income tested to determine entitlements to the private health insurance rebate. As a result, […]
The ATO has flagged four priority areas this tax season where people are making mistakes. The Australian Taxation Office (ATO) has revealed its four areas of […]
Climate change featured heavily during the election and now the Albanese Government is putting into place some of the promises it made. We look at the […]
New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how. Electric vehicles (EVs) […]
By David Downie, Partner What do you want from your business? What do you want from your investments? What do you want from your job or profession? […]
When it comes to selling a business, there are two key components at play: structuring the transaction; and positioning the business to the market. Both elements […]
Clients with self managed superannuation funds (SMSFs) often ask what assets the SMSF can acquire. Why? The golden rule for acquiring assets inside your SMSF is […]
The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business. An election ago, the 2022-23 Budget proposed a 120% […]