Small Business Car Parking Exemption If your business provides car parking benefits to your employees in the form of car parking for more than four hours on its premises, and the relevant car parking facility is within one kilometre of a commercial car park where the minimum all day cost is more than the current […]
Is Your Car Parking Benefit Liable For FBT? Read More »
Business expense deduction claims A recent case before the Administrative Appeals Tribunal (AAT) shed light on a growing phenomenon that you should keep in mind for work-related or business expense deduction claims. This case involved a business purchase on Gumtree. Case study of an engineer who purchased business related tools on Gumtree The case involved
Tips For Claiming For Gumtree Or Facebook Group Sourced Assets Read More »
Extended registration for employers of working holiday makers (backpackers)… As long as you register by 31 January 2017, you will not be penalised and you can still use the new withholding tax rate of 15% from 1 January 2017. Who can hire working holiday makers? Anybody can hire working holiday makers, especially if there is
Are You Employing Working Holiday Makers? Read More »
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 to affect a certain tax position (under a tax avoidance rule known as “Part IVA”). Structured for a
Profits Of Professional Firms Under Scrutiny OF ATO Read More »
Wealthy Australians uncovered The Tax Office has announced that it has partnered with insurance providers to identify Australians with policies that cover an expanded range of asset classes. Coming under its net are insurance policies that include cover for damage or loss related to marine, aviation, enthusiast motor vehicles, fine art and thoroughbred horses. Purpose
Data Matching To Uncover Hidden Wealth Read More »
Are you a company director? Time to review your responsibilities! Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company. Risks and liabilities The corporate regulator, the Australian Securities and Investments Commission (ASIC), says failing to perform your duties
Company Directors, Are You Clear About Your Responsibilities? Read More »