Monthly Archives: December 2015

Screws tighten on professional firms

In late June 2015 the ATO released a document setting out its final guidelines on how the business income of principals in professional firms should be taxed. The guidelines restrict the ability of practitioners in professional firms (lawyers, architects, doctors, … Continue reading

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Who is looking at your charity information?

The ACNC is approaching its 3rd birthday and charities with a June year-end are lodging Annual Information Statements including financial information for the second time. These statements are now providing information about the sector that has never been available before. … Continue reading

Posted in Not for Profit | Leave a comment

Work related car expenses reform now reality

The changes to car expenses deduction rules announced in the 2015-16 federal budget is now a reality with the legislation passing both houses of Parliament and awaiting Royal Ascent the changes included Eliminating the 12% of original value method and … Continue reading

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