Which structure should you choose when setting up a business?
This is one of the most common questions I receive from clients all the time. “I am looking at starting up a new business but I need to decide on how to structure it”. “Do I form a trust, or maybe a company or do I just set myself up as a sole trader?” We […]
2016 TAX TIME IS NEARING!!!
It’s nearly that time of the year again. Processing of the 2016 Tax Returns is less than a month away and therefore so are the tax refunds. I am available by appointment whether that be in person, email, phone or skype. Either way I will find a solution that suits every situation. Alternatively I can […]
Top 5 tax tips – Businesses and Individuals for 2016
With the end of financial year fastly approaching it’s a good time to discuss tax planning and tax deductions. OUR TOP 5 BUSINESS TAX TIPS FOR 2016: Get your business tax ready with our top 5 Tax Tips for 2016. 1: Use your instant asset write off – for small businesses An instant write off […]
2016 Business Tax Planning Strategies
The end of the 2015/16 financial year is near, so now’s the time to review what strategies you can use to minimise your tax: 1: Concessional Superannuation Cap The concessional superannuation cap for 2016 is $30,000 per year for persons under 49 as at 30/6/15, and $35,000 for persons age 49 to 75. Do not […]
2015 tax planning strategies – business
The end of the 2014/15 financial year is near, so now’s the time to review what strategies you can use to minimise your tax 1: Concessional Superannuation Cap The concessional superannuation cap for 2015 is $30,000 per year for persons under 49 as at 30/6/14, and $35,000 for persons age 49 to 75. Do not […]
Key Lodgement Dates
The lodgement program 2014-15 This includes details of most of your lodgement obligations including: income tax returns monthly and quarterly activity statements fringe benefits tax (FBT) returns and pay as you go (PAYG) withholding annual reports annual goods and services tax (GST) returns and information reports annual and quarterly instalment notices a range of superannuation […]
Tax planning tips to consider prior to 30 June 2014
With the end of financial year vastly approaching, now is the time for individuals and businesses to consider the following: ATO benchmarking Benchmarks have been developed to identify taxpayers who report income or expenses different to similar businesses across industries. It allows the ATO to identify businesses that are not fulfilling their tax obligations. Bad […]
ATO hunting tax evaders on lack of compliance
Recent revelations have revealed that the ATO is no longer willing to tolerate supporting struggling businesses through financing business operations by way of unpaid tax and superannuation obligations. In fact, individuals who have been late in lodging their tax returns are being personally targeted by the ATO and as a result will face harsher penalties […]