The end of the 2020/21 financial year is fast approaching and with company tax rates for eligible small businesses to reduce from 26% to 25% there is an additional incentive to undertake some tax planning before it is too late. With eleven months of the financial year...
We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members). We’ve set out some of the...
As the Coronavirus situation continues to evolve, we have no doubt that it is going to have significant and long lasting impacts on your business. Social distancing and self-imposed isolation will mean that your clients and customers will be reluctant to venture out...
Amnesty for employers on Superannuation Guarantee A new bill has passed the Senate, granting employers a one-off amnesty to voluntarily disclose unpaid superannuation contributions. Nearly two years since it was introduced to Parliament, the Treasury Laws Amendment...
Accountants: There are new rules on FBT calculation method in play New rules on the FBT calculation method puts onus back on clients to make sure valuations are correct when it comes to car parking fringe benefits. Here’s what accountants (and their clients) need to...
A Self Managed Super Fund is a legal structure, regulated by the Australian Taxation Office, with the sole purpose of providing for your retirement. The members of the SMSF run it for their benefit and are responsible for complying with the super and tax laws. If you...
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