Click here for a pdf version of this article. Bitcoin: Its place in your wallet or SMSF portfolio While bitcoin may be the most well-known cryptocurrency, there are nearly 1,500 in existence. In its simplest form, a cryptocurrency is a…
Require specific ATO advice on your SMSF? There’s a form for that The ATO says it can provide tailored technical assistance for SMSF trustees in some circumstances, orally or in writing, depending on the nature and complexity of their query.…
You can judge whether a car is luxury or not, according to the government, if it costs more than $65,094 for 2017-18 (and $75.526 for “fuel-efficient” cars). It was $64,132 for 2016-17 (with an unchanged fuel-efficient option). It’s not an…
Fuel tax credit rates are updated every year (generally on 1 February, but for 2018 they changed on 5 February). It is therefore a timely that the ATO has made public some common errors that taxpayers make when calculating and…
The days of a lax approach to valuations are over. While there is not always the need to employ a qualified independent valuer for each valuation, there are important circumstances where it is mandated, and others where it is recommended. …
Every investor goes in with dreams of a pot of gold, but there is a fundamental difference between investor types – one looks to line their pockets with investment returns along the way, and the other has the patience to…
Where some businesses have tripped up in the past is where the source of benefits provided is not clear cut — that is, where non-cash components of remuneration are sourced not directly from an employer, but from an associate, a…
If you are operating a small business and at the end of the income year you estimate that your trading stock’s value has not changed by more than $5,000, remember (especially if you are new to business) that you can…
Single Touch Payroll is a government initiative to streamline business reporting obligations, which is due to become compulsory from 1 July 2018. When a business pays its employees, the payroll information will be sent to the ATO via the business’s…
Click here for a pdf version of this article. Third party FBT danger – what to look for Where some businesses have tripped up in the past is where the source of benefits provided is not clear cut —…