The Business Forum Accelerators serve up the seven most important things to consider when it comes to outsourcing. Outsourcing will be one of the biggest debates in business this year. So combining their knowledge and experience, the Business Forum Accelerators have compiled this must-read list of the seven things to consider when it comes to…
Legislative amendments to implement a 2015 Budget measure to support small businesses have made their way through Parliament. The legislative amendments will allow a short-term accelerated depreciation write-off up to $20,000 (up from the $1,000 threshold) for assets acquired by small businesses. The increased threshold of $20,000 will apply only to assets first acquired at…
Parliament has passed legislation which will implement a 2015 Budget measure to reduce the company tax rate from 30% to 28.5% for companies that are small business entities with an aggregated turnover of less than $2 million. The company tax rate for corporate unit trusts and public trading trusts that are small business entities will…
In relation to 2014/15 individual income tax returns to be lodged this year, the ATO says it will be focusing on: – Unusually high work-related expense claims across all industries and occupations; – Expenses claimed that have already been reimbursed by employers; and – Claims for private expenses such as travel from home to work.…
The ATO, supported by NSW and Federal Police, has made surprise visits to over a dozen sites across Sydney as part of an investigation into potentially fraudulent phoenix activity. Recent figures show that phoenix activity costs the Australian economy up to $3.2 billion each year. Honest businesses suffer the most, losing almost $2 billion in…