QBCC Reporting Changes
QBCC Reporting: What has Changed? Aligned to Queensland Government’s sweeping Security of Payment reforms, financial reporting requirements have increased significantly and QBCC now has far greater insight into your business. With QBCC’s 31 December 2019 deadline having come and gone, all Category 1-7 licensees now must lodge extensive financial information and for most Category 1-3 […]
Impact of Tax Integrity Measures on Rural Land Holders
Impact of Tax Integrity Measures on Rural Land Holders The Federal Government is looking to improve the integrity of the tax system by cracking down on certain tax deductions associated with holding vacant land. Announced within the 2018-19 Budget, these measures are currently before Parliament. It’s part of a bid to reduce land banking and […]
Surviving the Christmas Cash Flow Hangover: A Retail Focus
Surviving the Christmas Cash Flow Hangover: A Retail Focus Fast forward to February, to a time when Christmas Day has been long forgotten and the New Year has come and gone. January has been slow and spent recovering or battling your competitors for your slice of the January sales. You are sitting down enjoying your […]
Potential Wage Underpayment Issues for Tourist Parks
There has recently been a swathe of news reports focusing on the wage underpayment involving staff among some of Australia’s largest and highest-profile corporate employers. Wesfarmers, Qantas, Woolworths, Commonwealth Bank, Super Retail Group and George Colombaris’ MADE group are among the big-name organisations across several sectors to have breached workplace laws. While these cases garner […]
Mass Retail Closures a Dire Sign for the Economy
161 popular Australian bricks-and-mortar stores are set to be closed just a couple of weeks into the new year. It started early on January 7 when it was revealed department store Harris Scarfe was set to shut 21 stores across five states over the course of just one month after the retailer was placed in receivership in […]
Correcting Outstanding NSW Land Tax Obligations
Revenue NSW is offering an Amnesty until 31 January 2020 to correct outstanding land tax obligations. The NSW Government recently announced that it is cracking down on property investors who have either failed to register for, or understated their land tax obligations. Broadly, land tax is paid where aggregate taxable holdings in New South Wales, […]
Banks to Improve Debt Collection Standards to Reduce Bankruptcies
Banks to Improve Debt Collection Standards to Reduce Bankruptcies Banks will clamp down on debt collectors who threaten customers with bankruptcy proceedings under new guidelines that will insist banks are consulted before debt buyers begin legal proceedings and are given the option to buy back the debt of vulnerable customers. The Australian Banking Association […]
2020 Economic Predictions
2020 Economic Predictions The holiday season often gives us time to reflect on the year that has been, and to ponder the year ahead. This is the ideal time to review your business plan in the context of a fast changing environment, and to make any necessary adjustments to strategy. So as we all start […]
Client Health Checks and the ATO Closing in on Small Business Debt
Client Health Checks and the ATO Closing in on Small Business Debt The Australian Taxation Office (ATO) continues to pursue the recovery of unpaid tax debt and superannuation, particularly from small to medium businesses. The ATO has recently visited approximately 400 small businesses on the Sunshine Coast and is rolling out visits to 10,000 businesses per year […]
