If your company has fallen behind on it’s PAYG withholding tax, the Australian Taxation Office is looking very closely at you. Not the company, but you, the Director.
Under the Director penalty regime, Directors are personally responsible for unpaid superannuation guarantee and PAYG withholding amounts. In addition... |
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Fringe benefits tax (FBT) exists to ensure that employees are not getting income disguised in another form and avoiding income tax. But such a broad concept has its problems. With the FBT year ending on 31 March, it's a good time to explore the myths and realities of fringe benefits and why so many employers get it wrong.
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The tax office recently clarified what happens when the trustees fail to pay the minimum pension for a member for the financial year. Where this occurs, the pension is considered to cease from the START of that financial year. This means that any amounts that may have been taken during the year will be treated as superannuation lump ... |
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With a 45% refundable tax offset (equivalent to a 150% deduction) up for grabs it’s a wonder why more businesses don’t claim the R&D Tax incentive. This generous tax deduction is available to businesses with a turnover below $20 million (a 40% tax offset, equivalent to a 133% deduction is available to all other eligible ent... |
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If you need to buy depreciating assets in your business – computers, machinery, cars, etc., - we’re about to give you a whole lot of reasons to go shopping.
We’re often asked about the best way to acquire different types of assets. In this case we’re talking about plant & equipment, depreciating assets purchased f... |
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