As a firm we are constantly looking for ways we can improve the service we offer our customers and we are proud to announce the launch of our brand new tax and accounting App.It’s completely free of charge and it’s available for iPhones, iPads and Android devices.
Every so often the Australian Taxation Office (ATO) sends a ‘shot across the bow’ warning taxpayers where their gaze is focussed. Last month in a speech to the National Press Club, Tax Commissioner Chris Jordan did exactly that. Part of the reason for this public outing is the gap between the amount of tax the ATO collects and the amount they think should be collected – a gap of well over 6%
The Federal Budget announced that non-residents will no longer be able to access the main residence exemption for Capital Gains Tax (CGT) purposes from 9 May 2017 (Budget night). Now that the draft legislation has been released, more details are available about how this exclusion will work.
Every vendor selling a property needs to prove that they are a resident of Australia for tax purposes unless they are happy for the purchaser to withhold a 12.5% withholding tax. From 1 July 2017, every individual selling a property with a sale value of $750,000 or more is affected.
Does superannuation offer an avenue to help downsizers and first home savers? The Government seems to think so. Late last month the detail of the housing initiatives announced in the Federal Budget were released for consultation. We explore what’s on offer and the implications.
According to the SME business research report, over 70% of small, and especially family-owned businesses in Australia are likely to experience a change in ownership in the next five years. Change, however, is an integral part of running a business and through effective succession planning, you can ensure that you have a potential successor for every role in your organisation.
Purchasing a franchise essentially grants you the rights to run a business that already has the established marketing strategy, operating procedures and, of course, a well-known name. When you buy a franchise, you receive support and guidance from the very start but it’s important to understand what you’re signing up for.
Anyone with investment property in Australia is probably feeling a little edgy with all the recent media attention on deductions, affordable housing, and negative gearing. We take a look at some of the key tax issues for investors pre and post 30 June:
The wide-ranging superannuation reforms come into effect on 1 July 2017. With the changes come a series of issues that Trustees need to be across, even if they don’t immediately affect you or your fund:
This month, why 90,000 more businesses can access the $20k instant asset write-off this year, why the ATO is on the warpath over work-related travel claims and a little financial year end housekeeping.