SuperStream delayed yet again The introduction of the new superannuation payments standard, SuperStream, has been delayed once more, with the introduction date pushed out to July 2015 for employers with 20 or more staff and to 2016 for smaller operations.…
Net medical expenses tax offset is phasing out – July 2014 Draft legislation was introduced in the 2013 budget to phase out the net medical expense tax offset (NMETO), which has finally been passed into law. It means that the…
All you need to know about Bitcoin Lauded for its convenience and lack of dependence on a central authority as much as it is derided for its unpredictability and the anonymity it grants criminals, global digital phenomenon Bitcoin is spreading…
Builders, get your taxable payments reporting ready before July 21 – July 2014 Businesses in the building and construction industry, take note – the deadline is July 21, 2014 to report the total payments you made to each contractor you…
SMSFs: Note that trauma insurance is not allowed after July 1, 2014 From July 1, 2014, a self-managed superannuation fund (SMSF) can only provide an insured benefit for a member for an event that is consistent with one of the…
SMSF trustees take note: The new penalty regime is now in force – July 2014 We reported about the changes to the penalties able to be handed down to self-managed superannuation fund (SMSF) trustees some months ago, but just as…
Lauded for its convenience and lack of dependence on a central authority as much as it is derided for its unpredictability and the anonymity it grants criminals, global digital phenomenon Bitcoin is spreading to every corner of the world and…
The first section of this article outlines measures that are definitely going ahead come the new 2014-15 financial year, while the second section contains changes outlined in the recent Federal Budget that have yet to be legislated. It is prudent…
Buying purely for cash flow This strategy is based on purchasing properties that have very high yields. The rent or income received from these properties not only covers all of the interest, maintenance and other costs associated with holding or…
Tactical business deductions for your end-of-year tax planning– June 2014 There are various legitimate ways to go about minimising your business’s tax liability, with various straightforward tax deductions that most businesses can utilise. The general rule is that you can…