CURRENCY: This issue of Client Alert takes into account all developments up to and including 13 July 2016. ATO small business benchmarks updated The ATO has announced the latest benchmarks for small businesses, updated for the 2013–2014 financial year. These benchmarks are a guide to help businesses compare their performance against similar businesses in the […]
ATO small business benchmarks updated The ATO has announced the latest benchmarks for small businesses. Based on the data from 2014 income tax returns and business activity statements, the benchmarks cover over 1.3 million small businesses. ATO Assistant Commissioner Matthew Bambrick said one of the great things about the benchmarks was that they gave a […]
CURRENCY: This issue of Client Alert takes into account all developments up to and including 27 April 2016. Tax incentives to promote innovation The Government has released draft legislation to implement more of the tax incentive measures announced as part of its National Innovation and Science Agenda (released in December 2015). The measures are designed […]
Tax incentives to promote innovation Innovative companies with an interest in getting involved in the “ideas boom” need to be aware of the Government’s proposed tax incentives to help promote innovation. The Government has released draft legislation to implement more of the proposed tax measures announced as part of its National Innovation and Science Agenda […]
Source: http://www.accountantsdaily.com.au/professional-development/9168-sme-missing-out-by-not-seeking-accountants-advice The Voice of Australian Business survey, undertaken by Bentleys, shows SMEs are missing out by not taking advantage of this expert advice. The survey revealed a number of alarming statistics such as less than half of all surveyed businesses used an accountant or financial adviser to review their banking relationship in the last year. […]
CURRENCY: This issue of Client Alert takes into account all developments up to and including 13 April 2016. Tax planning There are many ways in which entities can defer income, maximise deductions and take advantage of other tax planning initiatives to manage their taxable incomes. Taxpayers should be aware that in order to maximise these […]
Tax planning There are many ways in which entities can defer income, maximise deductions and take advantage of other tax planning initiatives to manage their taxable income. Taxpayers should be aware that they need to start the year-end tax planning process early in order to maximise these opportunities. Of course, those undertaking tax planning should […]
CURRENCY: This issue of Client Alert takes into account all developments up to and including 16 March 2016. Deadline looming for SMSF collectables compliance From 1 July 2011, self managed superannuation fund (SMSF) investments in collectables and personal-use assets have been subject to strict rules under Superannuation Industry (Supervision) Regulation (SIS Regulation) 13.18AA. The ATO has reminded […]