Author Archives: RDL Blog Administrator

New Standards released for Charities operating overseas

When the ACNC was introduced, the legislation provided for the introduction of External Conduct Standards applicable to charities with overseas interests. Now, nearly six years on, Treasury has released the detail on these standards. The standards are intended to provide … Continue reading

Posted in Accounting Information | Leave a comment

Fringe benefits provided to religious practitioners

The ATO has issued a draft tax ruling TR 2018/D2 expressing the Commissioner’s preliminary view of exempt fringe benefits provided to religious practitioners.  It replaces TR 92/17 immediately, but may be revised when the ruling is finalised. The law it … Continue reading

Posted in Accounting Information, Draft Legislation, Income Tax, Not for Profit | Leave a comment

New Guidelines for employers providing utes, work vans, etc.

For a long time there has been a misconception that work vehicles such as utes and panel vans have a blanket FBT exemption, and the ATO has got this in its sights. About a year ago, the ATO issued a … Continue reading

Posted in Accounting Information | Leave a comment

ATO to target individual tax claims this tax season

With an additional $130.8m government funding injection, the ATO has signalled that this tax season it will target work related expense claims by individuals. Having recently conducted a pilot program where over 850 individual tax returns were audited, the ATO … Continue reading

Posted in Accounting Information, Income Tax | Tagged , , , | Leave a comment

Super Guarantee Charge Amnesty Announced

The federal government’s recently announced 12 month Amnesty on underpaid super is welcomed news for employers, providing a one-off opportunity to self-correct past super guarantee (SG) non-compliance without penalty. If the legislation is passed as announced, the Amnesty will be … Continue reading

Posted in Accounting Information | Leave a comment

Victorian Long Service Leave changes soon to begin

In May this year, the Long Service Leave Act 2018 (Vic) received Royal Assent, signalling some significant changes to the Long Service Leave entitlements of Victorian employees, and impacting all Victorian employers The changes, which will take effect from 1st … Continue reading

Posted in Accounting Information | Tagged , , | Leave a comment

Proposed tax shock for those engaging contractors or employees

The May 2018 Federal Budget has left little doubt that anyone looking for a tax deduction for payments to contractors or employees had better get their house in order. Currently payers are required to withhold the required amount of tax … Continue reading

Posted in Accounting Information | Leave a comment

Proposed changes to Public Fund Bank Accounts

In December 2017 the Federal government announced that it would be seeking to remove the requirement for certain Deductible Recipient Funds to operate a separate fund bank accounts, managed by a majority of people deemed to be more responsible. There … Continue reading

Posted in Income Tax, Not for Profit | Leave a comment

Xero Online Accounting Software

This gallery contains 1 photo.

Xero is the new and innovative way to complete your accounting records. Have you ever asked any of the following questions? 1. How can I spend less time working on my books? 2. Can bookkeeping be simplified? 3. Everythings on … Continue reading

More Galleries | Leave a comment

Big changes ahead for GST on property developments

In the ever-changing tax landscape, a GST Bill currently before Parliament is bound to have significant ramifications for both purchasers and property developers. If the Bill passes in its current form, from 1 July 2018, purchasers of new residential premises … Continue reading

Posted in Accounting Information | Tagged , , | Leave a comment