Review of the “Backpacker Tax” The Prime Minister, the Hon. Malcolm Turnbull, has announced that Federal Budget will be handed down on Tuesday 3 May, a week earlier than the scheduled date. The government said it would review the taxation and superannuation arrangements for the Working Holiday Maker visa program, further to the proposed 2015 […]
Backpacker Workers To Start Paying Taxes? Read More »
Small businesses start up expenses can now be reduced … Start-up small businesses are able to deduct a range of expenses associated with launching their venture, such as the costs of professional, legal and accounting advice. When will these allowable deductions become effective? The government’s “Jobs and Small Business” package announced with the last budget
Professional Fees For Start Up Small Businesses Are Now Deductible Read More »
Registration of agricultural land ownership for foreign persons will be handled by ATO From 1 July 2015, the ATO will be responsible for a register related to foreign ownership of agricultural land. All foreign individuals, companies and trustees are required to notify the Australian Taxation Office if they: have an existing interest in agricultural land
Registration For Foreign Ownership Of Agricultural Land Read More »
If you fail to plan, you plan to fail Too many businesses fail because they don’t plan for their tax commitments well enough. From payroll tax to superannuation guarantee contributions to GST, we’ve seen businesses wiped out by huge penalties and tax debts because they kept putting off their obligations. Tax mistakes that leads to business failure
Top 5 Avoidable Tax Mistakes Made By Small Business Owners Read More »
Transition to retirement income stream rules Before an SMSF starts paying a transition to retirement income stream (T.R.I.S. or) to a member, the member must have reached their preservation age. Preservation age – the new rules Preservation age is the minimum age that a member can access their preserved super benefits without satisfying another condition
Rise In the Preservation Age For Preserved Super Benefits Read More »
What is SuperStream? To reduce the amount of time, effort and cost of the Superannuation system, the Government established SuperStream, a new system that allows employers to make electronic superannuation contributions for their employees. Employers that have 19 or fewer employees will begin making contributions starting 1 July, 2015 and are given 12 months to make the
SuperStream – How Ready Are You? Read More »