Don’t get a tax hangover … Christmas is almost here and while you should feel free to pop some champagne corks for your staff, you want to make sure that you don’t get a tax hangover; particularly with fringe benefit tax and associated income tax and G.S.T. pitfalls. Top 5 tips to keep your Christmas tax-free: Give until it […]
Tax-free Christmas Work Party – Top 5 Tips! Read More »
What are concessional contributions? Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap. A contributions cap sets a limit on the amount of contributions you can make in any one year. Concessional contributions include: employer contributions (including contributions made
Taxation Updates: Concessional Contributions To Superannuation Read More »
Registered auditors for Self Managed Super Funds From 1 July 2013, SMSF trustees are required to appoint an approved SMSF auditor who is registered with the Australian Securities & Investments Commission (ASIC) to conduct audits. Check your SMSF auditor’s registration with ASIC You should check whether your SMSF auditor is registered with ASIC. ASIC maintains
Self Managed Super Funds Updates Read More »
Legal responsibilities of company directors Company directors have a legal responsibility to ensure that their company meets its pay as you go (PAYG) withholding and superannuation guarantee charge (SGC) obligations. The director of a company that fails to meet a PAYG withholding or SGC liability by the due date automatically becomes personally liable for a
Director Penalties Read More »
Director Penalties Company directors should review their company’s reporting mechanisms to ensure that they are informed of their company’s financial position. Directors are personally liable where their company fails to make PAYG Withholding and SGC payments by the respective due dates. Carry Back of Company Losses The loss carry back rules are proposed to come
Company Taxation Preparation for End of Financial Year Read More »
Building and Construction Taxation Reporting From 1 July 2012, businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year if all of the following apply: you are a business that is primarily in the building and construction industry you make
Building and Construction Tax Advice for End Of Financial Year Read More »