Category Archives: Accounting Information

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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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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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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ATO to visit small businesses

Some people would think that a visit from the ATO would be about as enticing as root canal.  Nonetheless, the ATO has announced that it plans to make contact with small businesses to discuss its range of digital services.  The … Continue reading

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Will you be SuperStream compliant by 28th October?

SuperStream is a government reform that has been in the implementation stage for some time.  The intention is to require employers to use electronic means to report and pay super, doing away with forms and cheque payments, and creating efficiencies.  … Continue reading

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Public Ancillary Fund Reporting simplified

ACNC registered public ancillary funds don’t have to lodge public ancillary fund returns to the ATO anymore. The ATO will get the information it wants from the ACNC annual information statement.  This starts from the 2016 AIS.  Any outstanding Ancillary … Continue reading

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Is your business structure still the right fit?

Many business owners don’t realise that the business has outgrown its structure until something comes up – and this something is usually something negative. Are your assets at risk? Legal action by employees, customers and suppliers as well as divorce … Continue reading

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Finding and keeping great staff

It’s a question I constantly hear from business owners. Some business owners constantly face this dilemma, while others do not. Those faced with the issue desperately want to know how to get and keep great staff. I have found finding … Continue reading

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