by Wen Wen | Apr 12, 2019 | Accounting & Financial Reporting
Tax deduction for a donation As most of us know, donations of $2 or more are deductible, and there is flexibility in the rules around donating to emergency relief bodies in that no receipt is required if giving less than $10 (so-called “bucket” donations). To be able...
by Wen Wen | Mar 31, 2019 | Accounting & Financial Reporting
What is Single Touch Payroll Reporting? Single Touch Payroll (STP) changes the way employers report their employees’ tax and super information to the ATO Using payroll or accounting software that offers STP, employers send their employees’ tax and super...
by Wen Wen | Mar 8, 2019 | Accounting & Financial Reporting
Changes to the “same business test” What is ‘the same business’ test? One of the first tax legislation items the government dealt with in the new year was a bill that contained changes to the “same business” test. The same business test is relevant in a...
by Wen Wen | Jan 14, 2019 | Accounting & Financial Reporting
FBT Elements that can attract ATO’s attention As the FBT year runs from 1 April to 31 March, the months of October to December marks the “third quarter” of the FBT year, and so here is an overview of the FBT elements that can attract the ATO’s attention. This can be a...
by Wen Wen | May 18, 2018 | Accounting & Financial Reporting, Small Business Tax
Franchisees need to know how much tax to pay Why you need to know your tax obligations for a franchised business The Australian Competition & Consumer Commission (ACCC) is the government body responsible for enforcing the Franchising Code of Conduct, and if you or...
by Wen Wen | Apr 23, 2018 | Accounting & Financial Reporting
“Going concern” GST exemption ruling The concept of a “going concern” exemption for the purposes of the goods and services tax (GST) can still cause confusion when you sell your business. The sale of a business may be GST exempt if the enterprise is deemed to be a...
