Category Archives: For Information

Seeking professional advice when starting a business

From 1 July 2015, the professional expenses associated with starting a new business, such as legal and accounting fees, are deductible in the year those expenses are incurred rather than deducted over a five-year period as was the case in … Continue reading

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Fake CEO Fraud

Got an email from the CEO requesting urgent payment of an invoice (or something similar)? Don’t rush in to get the job done, because you might just be participating in a clever new social engineering hack. In other words, that … Continue reading

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Stock Days

Better stock control is one of the main reasons for installing intelligent business systems.  The trend toward having more stock lines to sell also demands a more professional approach.  No longer can you reply on your gut feeling. Call us … Continue reading

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New Government, New Promises

The Coalition Government was elected as the new Federal Government on the 7th September 2013. Key Promises from the election are as follows: 1. Abolish the Minerals Resource Rent Tax (Mining Tax) and a series of related measures funded by … Continue reading

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Removing the CGT discount for foreign individuals

This Bill proposes to remove the capital gains tax (CGT) discount on capital gains accrued after 8 May 2012 for foreign resident and temporary resident individuals. The Bill also makes consequential amendments to ITAA 1997. Note, however, the CGT discount … Continue reading

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Superannuation Proposed Changes

You may have seen the announcement on Friday 5 April 2013 regarding proposed changes by the federal government to super funds that are paying pensions (pension funds), essentially proposing that they be taxed. The government has proposed that where the earnings of … Continue reading

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Superannuation salary sacrifice

Are you making superannuation contributions by salary sacrifice?  The cap limit for superannuation contributions made by salary sacrifice and your employer’s contribution totals $25,000 for this current financial year (2012/13).  While you are permitted to exceed the cap limit of … Continue reading

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Australian Charities and Not-for-profits Commission

The new official ACNC website www.acnc.gov.au is up and running for clients with details of how to register your charitable entities, access to various publications, fact sheets and links to legislation. Contact our Not-For-Profit team at rdl.accountants for more information.

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The abridged version

Income Tax Exemption for Religious and Charitable Institutions Current Legislation Broadly speaking, the current income tax legislation prescribes that religious and charitable institutions are income tax exempt if they: have a physical presence in Australia and, to that extent, incur … Continue reading

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Draft Legislation

An exposure draft of legislation restating the ‘in Australia’ special conditions for tax concession entities has been released by the Assistant Treasurer for public consultation. The legislation is designed to ensure that: income tax exempt entities generally must be operated principally … Continue reading

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