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. […]
At Hurley & Co our goal is to assist individuals where they have the role of managing tax responsibilities of a deceased estate. Deceases estates hold the assets of the deceased person in trust from the time of death until all property and assets are transferred to beneficiaries nominated in the will. This is administered […]
Russell Howcroft has been fighting for ideas all of his adult life, and he’s got the scars to prove it. During the two decades in the advertising industry, ideas were his secret weapon in the battle for the hearts and minds of clients and consumers. And today, as executive general manager of Australia’s Network Ten […]
CURRENCY: This issue of Client Alert takes into account all developments up to and including 17 November 2015. Tax negotiation limited to known debt amounts Two corporate taxpayers have unsuccessfully applied to the Federal Court to have statutory demands set aside. Facts Two individuals, Mr C and Ms B, carried on property development activities in […]
Tax negotiation limited to known debt amounts Two company taxpayers have been unsuccessful before the Federal Court in seeking to set aside statutory demands issued by the ATO. The matter essentially involved two individuals who carried on property development activities through several entities (including the taxpayers) and their recollections of an alleged “global deal” with […]
We have recently had home loans and mortgages expert Mr. Scott Compton, move into our North Sydney office. Scott has been a home lending advisor for a number of years and is currently trading as Financial Solutions by Design Pty Ltd. Scott is up to date on a wide range of lending products and has […]
SMSF’s Still On The Rise The June 2015 quarterly Self-managed Super Fund (SMSF) statistical report from the ATO highlights the continuing progression of self-managed super funds (SMSFs). 1.05 million Australians are now members of an SMSF. Further 556,998 SMSFs are collectively holding assets of $590 billion. The ATO indicated that is an estimate of 6% […]