Author Archives: RDL Blog Administrator

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

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Xero Online Accounting Software

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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

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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

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Uber drivers beware!

As many are now aware, Uber drivers need to register for GST by the time they complete their first drive. The ATO is well aware of the identity of Uber drivers and has begun to send “please explain” letters to … Continue reading

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ACNC Review well underway

The ACNC celebrated its fifth birthday in December 2017.  As provided for in the original legislation, the Government is now conducting a review, the terms of reference indicating that it should: Examine the extent to which the objects of the … Continue reading

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The Sharemarket Crash: 30 years on

For some of you reading this blog, 1987 will seem like ancient history – way before you were born. For others, the share market crash of that year remains unforgettable. As a young accountant at the time, it seemed like … Continue reading

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Log books: keeping you out of trouble

The ATO is critically looking at car log books to make sure they have been correctly completed. Generally you need to keep a log book for at least 12 weeks, and once you have kept it, you can in most … Continue reading

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ACNC gets tough on defaulting charities

The ACNC has recently announced that it will move to deregister almost 90 charities for failing to submit their Annual Information Statements for two years (“double defaulters”).  As a result, these charities will lose their Commonwealth tax concessions.   The … Continue reading

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Personal tax deductions on the ATO’s hit list

The ATO has signaled that it has salary and wage earners squarely in its crosshairs. Anticipating that there is significant lost revenue from taxpayers overstating their tax deductions, the ATO has signaled that it will target work related claims, especially … Continue reading

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Selling the Backyard? Check the Tax Implications First!

With real estate prices booming, and the supply of land in inner-suburban suburbs falling well short of demand, there have been instances where homeowners have sliced off a portion of the house block for a bit of extra cash, only … Continue reading

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