It’s almost time to celebrate another end of year event – the FBT year end. The Fringe Benefits Tax (‘FBT’) year ends on 31 March running independently of both the calendar (31 December) and financial (30 June) years and receives very little attention from business owners. For employers: FBT is a tax employers pay on Read more about Fringe Benefits Tax – nearly over for another year[…]
Please click on this link to view our quarterly business newsletter. Topics for the first quarter of 2011 include: Starting 2011 on a positive note Learning new business strategies Business, marketing and social media Watch out for sham contracting Time to update your business systems ATO extends business relief Book review: The one page business Read more about Quarterly Business Newsletter (2011 Quarter 1)[…]
Well it sure has been an interesting few days. My wife and I returned on the 8th of January from an overseas holiday excited to be back in Australia. On Monday the 10th we were in Toowoomba for a few meetings with the intention of being back on the Gold Coast by the evening when Read more about Flooding in Queensland[…]
Be aware of counterfeit ATO cheques supposedly issued by the ATO and drawn on Reserve Bank of Australia. The counterfeit cheques are realistic in look and feel authentic; only after being put through a fluorescent scanner are they revealed to be fakes. The counterfeit cheques are being sent from overseas as advance payment for accommodation, Read more about Scams to be aware of[…]
I have noticed an increasing level of sophistication in recent years regarding the Australian Taxation Offices (‘ATO’) data matching capabilities. Below is an extract of information gathered from the ATO discussing their ability to gather and analyse your information. From my perspective I would prefer to sleep well at night than worry about a few Read more about You are being watched: The ATO data matching program[…]
Helping you to start a small business: New Enterprise Incentive Scheme Eligible job seekers who are interested in starting and running a small business can access assistance through the New Enterprise Incentive Scheme (NEIS).NEIS provides accredited small business training, business advice and mentoring for eligible job seekers, as well as ongoing income support for up Read more about Helping you to start a small business: New Enterprise Incentive Scheme[…]
Introduction First home saver accounts offer a tax-effective way of saving for your first home through a combination of government contributions and concessional tax rates. These accounts are available from certain financial institutions, including banks and credit unions.To help you work out if a first home saver account will suit you, visit the Australian Read more about First home saver accounts – what you need to know[…]
The super co-contribution is a government measure to boost super savings. If you are a low or middle income earner, you may be able to receive the super co-contribution from the government by making eligible personal superannuation contributions to your fund. You do not have to contribute the full $1,000 to be eligible – any Read more about Free money from the government: super co-contribution[…]
On 12 May 2009 the Government announced it will replace the existing Research & Development (‘R&D’) Tax Concession with a new R&D Tax Credit. The R&D Tax Credit is planned to come into effect from 1 July 2010.The benefit of a refundable tax credit over a tax concession is that R&D companies are often cash Read more about Let the ATO help fund your business: The new and improved Research and Development Credit[…]
This has proven to be a very contentious topic with strong opinions for and against the ‘big new tax’ as some politicians like to call it. There has been so much debate through the media which has left most of us scratching our heads wondering what outcome is other than a new Prime Minister. Firstly Read more about Confused about the new mining tax?[…]