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 timely period for Read More…
Tax Obligations Of A Franchised Business
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 someone you know are considering entering into a franchise arrangement, this Read More…
“Going Concern” GST Exemption May Affect Your Plan To Sell Your Business
“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 “going concern” — which refers to an Read More…
Is Your Business Prepared For Single Touch Payroll?
What is single touch payroll? Single Touch Payroll is a government initiative to streamline business reporting obligations and will become compulsory from 1 July 2018. When a business pays its employees, the payroll information will be sent to the ATO via the business’s payroll software. Reporting under the Single Touch Payroll (STP) system removes the Read More…
Your Purpose For Investing – Will It Help Achieve Your Goals?
Are you investing for growth or income? Every investor starts with dreams of a pot of gold, but there is a fundamental difference between investor types – one looks to line their pockets with investment returns along the way, and the other has the patience to wait until the end of the rainbow to reap Read More…
