Enriching Your Business
The global financial crisis has left people more vulnerable to fraud. It has also left people worried about their savings lasting throughout their retirement, with low investment and superannuation returns. Scam organisers generally target retirees or people nearing retirement age
For people moving from full-time employment to retirement, a transition to retirement pension can be a great way to supplement your income, One of the features of a transition to retirement pension is that it allows you to supplement your
The obligation on company directors to report and remit Pay As You Go withholding tax has been changed as of June 30, 2012. The Director Penalty Regime has also been changed, allowing it to impose obligations and personal liability on
The Personal Properties Securities Act 2009 (Cwlth) came into effect on 30 January, 2012. The PPSA deals with the registration of security interests in personal property, other than land, and has changed the way a supplier can lay claim to assets it
A Christmas party provided to your employees can be a minor benefit and therefore exempt from fringe benefit tax. This is only if certain conditions are met, such as the cost of the party being under $300 per employee. If
The ATO is going to use data from the State and Territory registering bodies (e.g. Vic Roads, RTA (NSW), etc.) on all motor vehicles sold, transferred or newly registered in the 2010-11 financial year with a market value of $10,000
From 1 July 2012, any businesses involved in the building and construction industry, including sole traders, will need to lodge an annual report detailing amounts paid to contractors and sub-contractors, including each contractor’s ABN. Any payment that includes a service
The 2011-2012 Budget disallows deductions against government assistance payments where the taxpayer has no other assessable income. This is in response to the Full Federal Court decision in FCT v Anstis [2010] HCA 40, in which the taxpayer, a full–time
Since late 2011, as a result of ATO’s loss in the court case called Multiflex Pty Ltd, the Federal Government has backed tax legislation which would allow the ATO to keep GST refunds for a period of 90 days (and
The rules governing whether and when small businesses (registered for GST) can currently claim GST credits on the financing of assets for business purposes depends on the type of finance arrangement used to acquire the assets. A Chattel Mortgage is