CURRENCY: This issue of Client Alert takes into account all developments up to and including 17 February 2016. Tax relief for small businesses that restructure on the way The Tax Laws Amendment (Small Business Restructure Rollover) Bill 2016 was introduced in the House of Representatives on 4 February 2016. It amends the ITAA 1997 by […]
Tax relief for small businesses that restructure on the way Small businesses are important to the Australian economy, as they facilitate growth and innovation. However, as a small business develops over time, its initial legal structure may no longer be suitable for the business. Where a business has to restructure to accommodate growth, the transfer […]
This morning some of our team members went to the Sydney Luna Park for the MYOB INCITE 2016. What we learned from the MYOB Roadshow today is that how the MYOB solutions will define what we do in business tomorrow. The topics include; When accounting is more that just punching the numbers Solving a cash […]
MYOB Dragged Bookkeeping into The Modern, Computerised Era ‘Relentless innovation’ Acuity (February 2016): 23-26. Print MYOB have published an article in Acuity Magazine outlaying their future strategy. There are of the opinion that R & D is essential and they will be part of Innovation and are spending 13-16% of their annual revenue on R & […]
Thomson Reuters in their recent newsletter have published a checklist regarding superannuation strategies for 2016 financial year. We believe it provides a very useful reference tool for the coming year. The new calendar year is a good time to conduct a superannuation health check and set some new goals to help boost superannuation savings. Although there […]
With only two quarters left until SuperStream becomes mandatory, employers are being urged to cross SuperStream off their ‘to-do’ list ahead of the 30 June 2016 deadline. It takes a little time to set up, but over a quarter of a million employers who have made the change are already enjoying […]
CURRENCY: This issue of Client Alert takes into account all developments up to and including 13 January 2016. Single Touch Payroll pilot and tax offset proposed On 21 December 2015, the Assistant Treasurer released details concerning the Government’s proposed Single Touch Payroll (STP) to streamline business tax and superannuation reporting. “Employers currently manually report PAYG […]
Single Touch Payroll pilot and tax offset proposed The Government is looking to cut red tape for employers by simplifying tax and superannuation reporting obligations through its initiative called Single Touch Payroll (STP). “Employers currently manually report Pay As You Go (PAYG) withholdings to the ATO,” the Assistant Treasurer Kelly O’Dwyer said. “Under the new […]
The government released draft legislation on 5th November 2015 in relation to 2015-16 Budget proposal to present a roll-over to permit small businesses to change their legal structure without any CGT liability. Small businesses may find that their appropriate structure may change over time or perhaps a new small business may select an initial legal […]
The Federal Government has published an “Innovation statement” aimed at making Australia a clever country and drive innovation. The Australian Financial Review has listed 11 offers from the Federal Government’s innovation statement worth more than $1 billion dollars. Stable science investment: By far the largest funding is reserved to provide stable funding for science infrastructure. […]