Category Archives: RDL Accountants Information

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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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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Daydreaming about your next holiday?

Travel has evolved significantly over the past 20 years, with many travellers looking for something with more adventure such as walking treks in New Zealand, cooking experiences in Tuscany, cruising on the Mekong River, or travelling through Australia’s beautiful outback. … Continue reading

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Time to review salary packaging

The recent 2% Federal Deficit Levy has paved the way for a further increase in the rate of Fringe Benefits Tax from 47% to 49% from 1st April 2015. As a result, the “gross up” rates will increase as follows: … Continue reading

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The Future of the ACNC

Up until late last year, the Federal Government continued to be quite vocal in its disagreement to many of the charitable reforms and had been proposing a far less regulated approach to the “civil sector.” To this end, a bill … Continue reading

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Charities missing in action?

When the ACNC commenced, the ATO transferred details of charities according to ATO records. As was expected, many of those details were incorrect so cleaning up the records has been a significant task for the ACNC staff. No doubt, a … Continue reading

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Divorce – what it means to you (and your business)

Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved. What happens when there is a family company? A ruling issued by the Australian Taxation … Continue reading

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