The Federal Budget was handed down on Tuesday 29 March 2022. Tax Roundup PDF Key measures include: Cost of living initiatives – the legislation for these measures passed Parliament on 30 March. See The 6 month, 50% reduction in the excise and excise-equivalent customs duty rate that applies to petrol and diesel. This applies to […]
“Temporary” Apartment Qualifies as Permanent Place of Abode This article originally appeared on Accountants Daily on the 16th of September. The High Court has refused the Commissioner of Taxation’s application for special leave to appeal against the decision of the Full Federal Court’s decision in Harding v Commissioner of Taxation. Big four firm PwC, who acted […]
Government Floats Changes to Downsizer Contributions Sarah Kendell This post originally appeared on accountsdaily and has been republished with their permission. The government has floated a number of imminent changes to eligibility for downsizer contribution rules, including clarifying who can contribute the proceeds of pre-CGT properties and how contributions from jointly owned properties are […]
Guidelines on Director GST Liability Expansion Released Jotham Lian This post originally appeared on accountsdaily and has been republished with their permission. The ATO will only make estimates of outstanding GST, WET and LCT liabilities where taxpayers are suspected of phoenix behaviour or dissipating assets, according to new draft guidelines. The Tax Office has released […]
Super Guarantee Opt-Out Coming for Certain Individuals Like the SMSF penalties here, this event also passed through both houses of parliament and awaits royal assent. Certain high income earning individuals will be eligible to get an employer to not make super guarantee payments on their behalf in the future. The intention of the new law […]
More High-Risk Industries Could Fall Under TPAR Regime Jotham Lian This post originally appeared on accountsdaily and has been republished with their permission. Emerging high-risk industries could yet be added to the taxable payments reporting system regime, says the Tax Office. Taxable payments annual reports (TPAR) currently apply to businesses providing building and construction services, […]
Personal Property Securities Register The Personal Property Securities Act (PPSA Act) and Personal Property Securities Register (PPSR) are all about the registration of your assets (the secured party) to protect against the possibility of the debtor (the grantor) falling into hard times, business failure and hence insolvency. Registration of your interest can insure against losing […]
From 1/7/19 if businesses do not meet their PAYG withholding and reporting obligations they will not be able to claim a tax deduction for payments as follows: Of salary, wages, commissions, bonuses or allowances to an employee Of directors fees Under a labour hire arrangement For services when the supplier does not provide their ABN […]
Structuring Your Business – The Pros and Cons Rede Accountants Gold Coast, Brisbane & Byron Bay Business Establishment /Business Setup– Pros and Cons. When structuring your business you have 4 main choices: Company Trust Sole trader Partnership So which is the best option when structuring your business? Everyone’s circumstances are different. There is no ‘one […]
When is the right time to Structure your Business Affairs? Rede Accountants Gold Coast, Brisbane & Byron Bay We’re often asked by clients – “When is the right time to structure your business affairs?” In a nutshell, the correct answer is the day you start the business. This is often not practical because you can’t […]
COL WILSON B.COM, FCPA, REG'D TAX AGENT
KEN LUDEKE FCPA, FCA, REG'D TAX AGENTCertified Practising Accountants
Suite 1004, Level 10 "The Rocket" 203 Robina Town Centre Drive Robina QLD 4226
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