Will the cloud help to manage your operations more effectively? Recently, accounting firm William Buck conducted a series of interviews with small business owners in a variety of industries. The goal was to identify their challenges, opportunities and threats. Small business owners looking to the cloud The interviews revealed that many small business owners are looking to the cloud to manage their […]
Is The Cloud Right For Your Business? Read More »
Knowing the difference is important to the ATO and therefore to you! The Australian Tax Office reveals several myths and assumptions, which I’ll share with you in a moment, mistakenly applied by both workers and employers when trying to identify the tax status of a some workers. It found that employers continually rely upon misinformation when distinguishing between what
Employee Or Contractor? Read More »
What is SuperStream? SuperStream is a government reform designed to improve the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees by submitting information and payments electronically in a consistent and simplified manner. To do this successfully they may need to gather additional information from their employees.
SuperStream Delay – Will You Be ready? Read More »
Fringe benefits tax (FBT) will increase from 47% to 49% From April 1, 2015, the rate of fringe benefits tax (FBT) will increase from 47% to 49%. The rate is expected to return to its present level two years later. Implications of increased FBT for businesses When the FBT rate increases next April, many small
Higher Fringe Benefits Tax – How Does It Affect Your Business? Read More »
ATO warns property developers not to muddy the income /capital divide The Tax Office has warned property developers against using trusts to return the proceeds from projects as capital gains instead of income. Profits from property developments that have been treated as capital gains are high on the Tax Office’s target list right now, with the
Property Developers Warned On Contrived Structures Read More »
Foreign income must be declared Generally you must declare all income you have received from foreign sources during the financial year in your tax return. Foreign income includes: business income foreign employment income most pensions and annuities bank interest dividends royalties rent capital gains personal services income. W Wen & Co. provides tax advice regarding foreign source
What Foreign Income Do You Need To Declare? Read More »