Top 5 avoidable tax mistakes that business owners make
Hard work is vital to success, but it’s not the only quotient.
Company directors: Do you REALLY know your responsibilities?
Company directors especially need to keep in mind that the Corporations Act …
GST on intangibles commencing July 2017
A new law applying GST to international sales of services and digital products will apply in Australia from July 1 next year. The new tax rules will apply to international sales of digital products and services provided to Australian consumers. Under the new law, overseas businesses will be required to pay GST on these sales.…
Can you claim a tax deduction for insurance premiums?
As a general guideline, the ATO will allow a deduction for insurance premiums if it can be shown that the insurance cover relates to earning assessable income.
Deceased estates: Things you need to know
Unfortunately, having to deal with managing a deceased estate is a task many of us will have to shoulder at some stage in our lives — but having some familiarity with what’s involved beforehand will hopefully ease the burden. It is worth remembering that the law that applies to the assets and income of a…
Backpacker tax: Government backs down
The Federal Government has responded to pressure and dropped its plan to introduce a 32.5% tax on backpacker workers.
Changes to unpopular Federal Budget
By Julian Nowland Treasurer Scott Morrison has buckled to intense backbench pressure and dumped many unpopular elements of its superannuation policy that were announced in May’s Federal Budget. Some of the key measures are: The proposed $500,000 limit on after-tax contributions, will be replaced by an annual non-concessional $100,000 limit, down from the current $180,000,…