by Quinns_News | Jul 29, 2015 | Accounting News
With the recent announcement and discussion of the new federal budget, it is time for business owners to get ready for the 2015 tax return and begin tax planning for the future. The following are essential tasks for you undertake at the end of financial year. What to...
by Quinns_News | Jul 29, 2015 | Financial Planning News
While these rules apply for all collectables acquired from 1 July 2011, collectables already held in an SMSF as at 30 June 2011 were given a five year transitional period to comply. That five year period ends on 30 June 2016. Know the rules It means trustees have just...
by Quinns_News | Jul 22, 2015 | Accounting News
Most income your business receives is assessable income – which means you need to declare it and it’s subject to tax. You can claim tax deductions for most costs you incur in running your business but there are exceptions. For example, you cannot claim...
by Quinns_News | Jul 22, 2015 | Consumer News
Testamentary discretionary trusts have become increasingly popular due to the various benefits it provides. One of the benefits is that it provides the testator a measure of control over their assets after death. Another benefit is that due to the control given to a...
by Quinns_News | Jul 15, 2015 | Accounting News
Effectively managing your tax affairs can help avoid tax shocks. Australia’s income tax system is based on self-assessment. This means that information you provide to the ATO is initially accepted as being true and correct when you lodge your tax return and...
