It probably comes as no surprise to anyone that there is a significant under insurance gap between what we would need to maintain our standard of living should the unthinkable happen, and what we are actually covered for in the way of insurance.
Broadly speaking, employees who travel overnight in carrying out their work are usually entitled to claim a tax deduction for the cost of meals, accommodation and/or incidentals (e.g., taxi fares) they incur in connection with that travel. If you have employees that travel for work, you may be required to pay a travel allowance to… Read more »
If a person (or debtor) owes you or your business more than $5,000 you may be able to apply to make them bankrupt.
Australians buying their first home or downsizing in retirement are about to receive a helping hand thanks to new superannuation rules which come into effect on July 1. From that date, first home buyers will be able to contribute up to $30,000 into their super fund towards a home deposit while downsizers can put up… Read more »
The legislation to introduce the purchaser GST withholding regime for supplies of new residential property has been introduced into Parliament. Once enacted, the changes will come into effect from 1 July 2018.
Until 2010, the Corporations Act 2001 allowed directors to pay a dividend to shareholders if sufficient profits or retained earnings existed (in the current year). Surprisingly, the Act did not specifically require directors to consider the company’s solvency at the time of payment or whether the payment itself would affect the company’s ability to pay… Read more »
Things to Consider Are you considering investing in Bitcoin? If so, be aware of the following potential traps. 1. Assets purchased by a SMSF must be in the name of the Trustee and on behalf of the SMSF.
Employees resigning from your organisation to work for a competitor, or to start up their own enterprise, can pose a serious risk to your business, in terms of the valuable business information they have acquired while working for you. While it is important for you to take steps to ensure that your business is safeguarded,… Read more »
Are your Windows Safe? If you are an owner in a strata property, are you aware that owners and owners corporations have an obligation to have window complying safety devices installed on all applicable windows by 13 March 2018.
The legislation allowing first home buyers to save for a deposit on their home via their superannuation contributions has been passed by Parliament.