Profits Of Professional Firms Under Scrutiny OF ATO

Profits Of Professional Firms Under Scrutiny OF ATO

Profits of professional firms under ATO spotlight! The ATO has updated its guidelines on the taxing of profits made by certain professional firms. Specifically, it is focusing on the risk of arrangements that appear to comply with tax law but are purposefully designed...
GST “Going Concern” Exemption

GST “Going Concern” Exemption

What is the ‘going concern’ GST exemption? The “Going concern” exemption for GST purposes has been in place for many years. A “going concern” refers to an enterprise’s ability to continue trading, with the sale of that business generally eligible to be...
Year End Tax Planning

Year End Tax Planning

Small business end of financial year planning Interest on loans Any interest that is accrued on a business loan but not physically paid by June 30 may be deductible in that year. If you fund some business activities through your personal credit card or a personal...