Use-of-cash draft rules released
Draft rules supporting the new currency restriction legislation have been released by Treasury. The legislation bans the use of cash for some transactions of more…
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Client Newsletter – December 2019
E-invoicing is on its way Along with a more automated exchange and processing of invoices, e-invoicing also promises reduced payment times and better cash flow…
Regulatory Roundup – December 2019
Super strategies will soon need to factor in new transfer balance caps When the legislation to limit the amount that can be transferred into a…
Lost or destroyed tax records? Don’t panic
Now and then, taxpayers may find themselves in a situation where they simply have no records to back up a tax claim. There can be…
An SMSF trustee duty not to be forgotten: The investment strategy
The majority of people who set up their own SMSF say that “control” is a big reason for doing it. There is flexibility and benefits…
Super downsizer scheme common errors
The super downsizer scheme started on 1 July 2018 and has allowed older Australians to sell their homes and contribute up to $300,000 of the proceeds…
The ATO has announced it is cleaning out its ABN cache
Not keeping lodgements current or missing reporting deadlines are some of the key indicators to the ATO that a business may no longer be operational.…
Three wise FBT tips for Christmas
Employers know that popping a champagne cork or two to celebrate the festive season lets staff know their efforts are appreciated, but the well-prepared business…
Small business: Low-cost assets and the threshold rule
There is a rule in the tax law that allows a business that doesn’t use simplified depreciation to claim an immediate deduction for most business…