by Quinns_News | Aug 28, 2013 | Accounting News
When completing your tax return, you’re entitled to claim deductions for some expenses that are directly related to earning your income. You subtract these allowable deductions from your total income to arrive at your taxable income. You only pay tax on your...
by Quinns_News | Aug 28, 2013 | Accounting News
All businesses in Australia are required to lodge an annual company tax return. How your business lodges its annual income tax return depends on the type of business structure it operates under. Business Tax Lodgement Sole traders You report your taxable income or...
by Quinns_News | Aug 21, 2013 | Consumer News
The Bankruptcy Act 1966 does not restrict a bankrupt from being employed and earning an income during their bankruptcy. However, if your after-tax income exceeds a certain amount you will have to pay contributions from your income to your trustee. The Bankruptcy Act...
by Quinns_News | Aug 21, 2013 | Accounting News
What to Keep As a legal requirement, all employee and contractor records must be kept for five years. Records may be paper or electronic and must be in English. If you do decide to keep electronic records, make sure you choose a software package that meets your...
by Quinns_News | Aug 14, 2013 | Consumer News
A Will is a legal document that sets out who you want to receive your assets when you die. Making a Will is the only way you can ensure your assets will be distributed according to your wishes when you die. Studies show that at least 45% of Australians do not have a...
