Instant asset write-off, how will help your business? You may have heard about it but do you understand exactly how it can benefit your business?
Read more: Instant asset write-off, how will help your business?
Independent contractors, do you need to pay super? Your business may be required to make superannuation contributions for some independent contractors, even if they have an Australian Business Number (ABN).
Business Tax, Super and Financial Planning
Read more: Independent contractors, do you need to pay super?
Small business CGT concessions, make sure your claim stacks up as they can save your businesses some serious tax – and help business owners significantly boost their superannuation – but it’s essential that you keep the right records, particularly for when the time comes to sell.
Business Tax, Super and Financial Planning
Read more: Small business CGT concessions, make sure your claim stacks up
ABN registration is under scrutiny, does yours stack up? Have you run a small business that has ceased or paused operations? Or perhaps you’ve been hired as an ABN contractor?
Read more: ABN registration is under scrutiny, does yours stack up?
R & D incentive for software projects, can my business claim? Is your company planning to develop software as part of an experimental R&D project?
Read more: R & D incentive for software projects, can my business claim?
ATO business benchmarks can be a handy business check-up tool for business owners.
Business Tax, Super and Financial Planning
Read more: ATO business benchmarks can be a handy check-up tool
Declare personal use of your business trading stock? For business owners in industries such as hospitality and food retail, using small amounts of the business’ trading stock for personal use is a reality of day-to-day operations.
Read more: Declare personal use of your business trading stock?
Push to reform the taxation of discretionary trusts? Recent years have seen much discussion about the effectiveness and fairness of Australia’s current rules for taxing discretionary trusts.
Read more: Push to reform the taxation of discretionary trusts?
Deemed dividend rules, governments new 10-year loan model. The government is acting to simplify the Division 7A rules that govern deemed dividends, proposing a new 10-year loan model for compliant loans.
Business Finance, Business Tax
Read more: Deemed dividend rules, governments new 10-year loan model
PAYG withholding, new penalties for non-compliance. Combating the black economy has been a key priority of the government in recent years.
Business Finance, Business Tax
Read more: PAYG withholding, new penalties for non-compliance
Government tenders to require satisfactory tax compliance. Bidding on Commonwealth government tenders could soon be more complex, with the government seeking to exclude businesses that do not have a satisfactory tax record from the tender process.
Business Finance, Business Tax
Read more: Government tenders to require satisfactory tax compliance
Franking rules, company tax rates and consequences. Reducing the corporate tax rate for small to medium businesses has great benefits, but it may bring some unintended consequences in terms of the franking rules.
Business Finance, Business Tax
Read more: Franking rules, company tax rates and consequences
Deemed dividend changes include simplifying loan rules. Div 7A or deemed dividend payments may be familiar to you if you’re the shareholder or associate of a private company.
Read more: Deemed dividend changes include simplifying loan rules
FBT implications on providing Christmas parties and gifts. With Christmas fast approaching, the ATO has reminded employers and business owners about the potential FBT implications of providing office Christmas parties and gifts to employees.
Read more: FBT implications on providing Christmas parties and gifts
ABN system reform due to black economy taskforce findings. The ABN system was originally introduced as a simple way to provide businesses with unique identifier when dealing with the government.
Read more: ABN system reform due to black economy taskforce findings