by Quinns_News | Apr 10, 2013 | Accounting News
PAYG instalments is a system for paying amounts towards your expected end of year income tax liability. The Australia Tax Office (ATO) calculates your actual income tax liability when they assess your annual income tax return. To make sure your income tax assessment...
by Quinns_News | Apr 10, 2013 | Financial Planning News
A company does not need to be insolvent in order to be wound up; they can apply for voluntary liquidation instead. The winding up can be initiated through either the members or the creditors under s491 of the Corporations Act 2001 (the Corporations Act), that is...
by Quinns_News | Apr 3, 2013 | Accounting News
New Changes Under draft regulations released recently by the Federal Government, superannuation funds will be exempt from tax on pension stream assets for deceased estates. These amendments give superannuation funds the right to tax exemption on investment earnings...
by Quinns_News | Apr 3, 2013 | Accounting News
A fringe benefit is a payment to an employee but in a different form to salary or wages. A fringe benefit is provided during the time of the employee’s employment. The Fringe Benefits Tax (FBT) is different from income tax and it is based on the taxable value of...
by Quinns_News | Mar 27, 2013 | Accounting News
Land tax is a tax imposed on the owners of land in NSW as at midnight on 31 December of each year by the Office of State Revenue (OSR). Generally, your principal place of residence (PPOR or your home) or land used for primary production (a farm) is exempt from land...
