Basics of the PPSR
What is the PPSR? The Australian Financial Security Authority (“AFSA“) administers the Personal Property Securities Register (“PPSR“). The PPSR is a national online register that can provide information to help protect consumers when they are buying personal property such as cars, boats or artworks. It doesn’t include land or buildings. The PPSR is an Australian […]
Cash-Flow Management and the Health of a Business
Here at C&D we deal with businesses of all shapes and sizes. Many of the issues these businesses face can come down to one crucial facet within their operation: cash flow management. If you are a start-up, we understand the excitement involved with getting your business up and running and growing your sales. You are […]
Single Touch Payroll – what does it mean?
Businesses used to report this information to the Australian Taxation Office (“ATO”) once a year. Now, they need to send a report after each pay day. And those reports must be submitted digitally, using a very specific format. Changes to when you report payroll Small businesses used to finalise their payroll records at the end […]
Issues for Property Owners
Because property ownership is such an important issue for many people, we want to remind everyone of some recent changes to: The tax treatment associated with residential rental properties (e.g. travel deduction and depreciation changes); Withholding tax obligations on purchasers of property: 12.5% CGT withholding on the sale of any property for $750,000 or more […]
Investment of company funds in Hybrid Trusts
The Australian Taxation Office (“ATO”) has recently removed from its website legal database the edited text of a private ruling regarding the investment of surplus funds of a private company into a hybrid unit trust. It is unsurprising that the ruling has been removed, since the ATO had months earlier added the rider at the […]
CGT Concessions and the Difficulties for Shares and Unit Trust Interests
When selling a business, it is always important to determine whether or not a seller can qualify for the small business CGT concessions. The potential benefit of this is to either exempt, reduce or defer the tax implications of a capital gain made on the sale. When examining the small business CGT provisions, there is […]
Exemptions for Work Christmas Parties
It’s not quite Christmas time yet, but most businesses will be in the process of thinking ahead to the yuletide festivities, if not already into well-advanced planning. One of the perennial questions is if and how fringe benefits tax applies to these activities. There is no separate fringe benefits tax (FBT) category for Christmas parties […]
Scared of advice?
Litigation and the risk of litigation is real for professional firms. As taxation becomes more complicated and business transactions are becoming harder to follow, there is a need for firms to align themselves to maximise their service offering. For smaller practices avoiding or unwilling to give advice, we offer a service that will allow you […]
Pre-Christmas Planning
Each year the team notices an uptick in businesses suffering financial difficulties prior to the Christmas break. For some businesses there is an attempt to hold on, to try and see if the new year will bring the necessary change to be able to break a financial problem. If your business is under pressure, now (and […]
Is attending a conference tax deductible?
The test is a standard question of whether the conference costs were ‘necessarily incurred in earning your assessable income’. The ‘necessary’ causes some taxpayers some concerns. If the conference keeps your knowledge current and/or refines your skills, is in the area that you currently operate and is in the nature of continuing professional development, then […]
