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.…
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,…
As announced in the 2016–2017 Federal Budget, the Government has proposed a lifetime non-concessional superannuation contributions cap of $500,000 to apply from Budget night (3 May 2016). This means that people who are planning to make non-concessional contributions now need to check their historical non-concessional contributions data back to 1 July 2007 (which will be…
A new foreign resident capital gains withholding tax regime has been introduced. The new rules will apply where real property contracts are entered into on or after 1 July 2016, but will only apply to sales of residential property where it has a market value of $2 million or more. Where the new rules apply,…
The ATO has announced that it will acquire data from businesses that it visits as part of its employer obligations compliance program during the 2016-17, 2017-18 and 2018-19 financial years. Data collected is as follows : ABN of the payer business ABN of the payee business (or contractor) the name, address and contact details of…
Minnik Chartered Accountants would like to introduce, John Tchetchenian, Broker & Founder of Altitude Capital. Our firm has also partnered with Altitude Capital and John has joined our team. John will be working together with Leah and Julian on our new Business and Family Advisory services, assisting us to structure our clients financing matters to…
Minnik Chartered Accountants would like to introduce Julian Nowland, Wealth Strategist and Co-Founder of Plenary Wealth. Our firm has recently partnered with Plenary Wealth and Julian Nowland has joined our team. Leah and Julian will be working closely together on our new Business and Family Advisory services, which focus on a holistic view of our…
Minnik Chartered Accountants is in the process of migrating its practice to the Cloud. This includes practice management accounting & taxation software, database, document storage and email functionality. We look to constantly improve the way we do business and implement online solutions to provide our core function. We are sharing our learnings with our clients…
Australians with a Higher Education Loan Programme (HELP) debt and/or a Trade Support Loans (TSL) debt who are moving overseas for longer than six months will need to provide the ATO with their overseas contact details within seven days of leaving the country. International contact details can be provided to the ATO using its online…
The Compliance side of our Practice involves assisting our clients to meet ASIC and ATO obligations accurately and within the required deadlines. Compliance services are delivered regularly – monthly, quarterly and annually – and cover a range of preparation and lodgement activities including Bookkeeping, Payroll, IAS & BAS returns, FBT & Income Tax Returns, Financial…