To be clear, a self-managed superannuation fund (SMSF) can acquire property from a related party only where the property is deemed to be business real property. Further that transaction must be transacted at normal arm’s length market rates
If you have purchased a block of vacant land in the past, you may be entitled to claim certain deductions for expenses incurred in holding the land.
Payroll tax can be a confusing topic. You may think that you already pay payroll tax as an employer, but this is an additional tax to the employer separate from PAYG Withholding requirements.
When was the last time you sat down and really reviewed your finances – I mean top to bottom?
What you will more than likely find is that you are losing money through unhealthy and unnecessary wastage. This wastage will take many forms.
Land tax is a tax paid to the State Government by owners of land. Land tax is calculated by the combined value of taxable property – not based on each individual piece of land.
Do you own a boarding house, or are thinking of investing in one?
If so, you will need to be across the GST treatment associated with the investment. This can be a confusing area to understand at the best of times.
Xero can help you with your efficiency when it comes to Bank Reconciliation. Gone are the days of printing your bank statement and ticking as you manually write the transactions in a ledger or enter them into a desktop software.
Older Australians who feel like they have not saved enough funds for retirement now have the opportunity to boost their superannuation by downsizing their home.
The ATO are concerned that the trustees of these Self-Managed Super Fund’s haven’t given due consideration in diversifying their fund’s investments which may put their fund’s assets at risk.
A workspace is often a good representation of an employee, or for that matter a business. It’s all about first impressions.
As of 1 July 2019, additional industries have been added to the Taxable Payment Annual Reporting System. You may need to lodge a taxable payment annual report..
It’s now a bit over a month into the new financial year and you may be thinking you're still not prepared for tax time. Don’t stress you’re not the only one who feels like tax time has just snuck up on you - the good news is, there's still time!
At present, Australia’s economic conditions are extremely challenging. We are experiencing the tightening of lending; changing consumer habits, behaviours and expectations; new emerging technology, just to name a few.
With the new financial year commenced, it’s important to re-confirm the contribution caps for the 2020 financial year. But first it’s important we differentiate the types of contributions that can be made.
Technology has come a long way in recent years, and with that a great opportunity exist to get more productive by unlocking unnecessary time spent on manually inputting paperwork into your accounting files.
Great news for small-to-medium sized businesses, the government has increased the instant asset write-off threshold to $30,000, effective for any new or second hand assets purchased as of 7:30 pm (AEDT) the 2nd April 2019.
💥 We’re Moving. But not too far! 💥
New building, same awesome team!
For most of you, you’ve asked yourself this very question more than once – especially when you’re reading a pay slip or looking over your business numbers!
The Fringe Benefits Tax (FBT) year ended 31 March 2019. It is now time for businesses to determine if they have an FBT exposure and if so start to collate the relevant information to complete an FBT return for the 2019 year.
You may have heard the term Single Touch Payroll (STP) being used recently. Well It’s important to know that STP is not only for employers with over 20 employees.