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Archive for category: Tax

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Oligopolies and Monoliths Thrive Again

The first rule to bring up to international level is easy. Tax the multinational bastards! The second? Bring competition policy up to the international level.

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Oligopolies and Monoliths Thrive Again
( Posted in: Tax )

Small Businesses Do Need Tax Guidance

We’re glad to hear the head of the ATO, Chris Jordan, has come out recently and commented on tax obligations for small business people. It’s very complex, but so important that small business people get it right.

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Small Businesses Do Need Tax Guidance
( Posted in: Tax )

Time Is Up For Dodgy Accountants

We absolutely love that the ATO has singled out the presence of about 500 dodgy tax agents in the Aussie tax community. The ATO assistant commissioner, Adam Kendrick, has recently spoke about these dodgy agents eating into market share of good quality, well trained tax agents…

 

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Time Is Up For Dodgy Accountants
( Posted in: Tax )

Death and Small Business CGT Concessions

They say that two things in life are inevitable – death and taxes. This doesn’t mean that the two have to happen at the same time. Generally where there is a change of ownership in small business, a CGT event is deemed to have occurred which may result in a capital loss or taxable gain. When a person dies, their assets are transferred to their legal personal representative (LPR) or are acquired by a surviving joint tenant, if one exists, and as such the Capital Gains Tax rules apply.

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Death and Small Business CGT Concessions
( Posted in: Tax )

Clothing Deductions Hung Out To Dry

The ATO says that clothing claims are up nearly 20 per cent over the last five years with people either making mistakes or deliberately over-claiming. Common mistakes include people claiming ineligible clothing, claiming for something without having spent the money, and not being able to explain the basis for how the claim was calculated.

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Clothing Deductions Hung Out To Dry
( Posted in: Tax )

The Fall Guy

We want nothing of any value in the fall guy’s name. Absolutely nothing! It’s not a perfect world. Bad things sometimes happen to good people. So if a business falls over the fall guy can go with it but hard earned assets built along the journey MUST be fully protected.

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The Fall Guy
( Posted in: Tax )

2018 Tax Checklists

We have taken the time to prepare comprehensive Tax Checklists for 2018, designed to guide you in providing all the correct and relevant information to maximise your tax return.

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2018 Tax Checklists
( Posted in: Tax )

ATO Changes for Building and Construction Service Clients

If you are running a business primarily in the building and construction industry and you make payments to contractors for building and construction services, you will need to lodge a Tax Payments Annual Report.

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ATO Changes for Building and Construction Service Clients
( Posted in: Tax )