Labour Hire Licence
The practical approach for clients that operate a labour hire business would be to quickly undertake a fair assessment as to whether their company will pass the financial viability test. If there are legacy issues, payment plans, overdue statutory debts or aging of trade creditors then passing the financial viability test may not be a […]
Single touch payroll and lodgments
Single touch payroll reporting is now in effect for most employers with 20 or more employees. For those with less than 20 employees, this will come into effect for you come 1 July 2019. Each time you pay your employees, you will report the tax and super information to the ATO from your Single Touch […]
Tax residence for companies
Bywater Investments Limited v Commissioner of Taxation; Hua Wang Bank Berhad v Commissioner of Taxation [2016] HCA 45 The High Court has clarified the question of how a company can be controlled and managed in its unanimous dismissal of appeals by four companies (“the appellants”) from a decision of the Full Court of the Federal […]
Opening on a Public Holiday
A vexed issue for business owners especially cafes and restaurants, is whether to open on Public Holidays and whether there should there be a surcharge. There is a balance between wage costs against opportunities, and often this can be challenging for a business owner to determine.
Small Business CGT Active v Passive
The small business capital gains tax concessions are extremely valuable, and for small business owners who need to dispose of assets that have risen in value during the time they have owned them, accessing these concessions can mean greatly reducing any consequent tax liability, even to zero. But to access the CGT concessions some conditions […]
CGT on developing the family home
Understanding the taxation consequences of splitting the family home land or starting a development.
Getting advice around this is important and makes sure you do not lose concessions.
What the Election Means for Business
In my experience the next two months will be tough for small retailers and hospitality businesses as the uncertainty that the election process brings will make it harder to get customers to spend.
FAQ: Garnishee Notices
Received a garnishee notice? What does it mean? The ATO has an ability to collect money directly from your bank account or from your business’ debtors via a garnishee order. If you have reached this stage it generally means that most avenues have been exhausted for negotiation or settlement. For business owners this is often […]
Basics of insurance through super
Having the right insurance cover such as illness and accident cover within your super fund is very important as it provides a level of security for members of the fund along with their families. Choosing the right insurance cover can be arranged by the SMSF trustee/s. Generally, there are three types of insurance that are […]
10 ideas to help your business
If your business is struggling, you may not know the best way to fix the problem without some help. We’ve put together 10 ways that you may be able to use to turn your struggling business around. If you aren’t sure where to start, contact us and speak with the experts.
