by Quinns_News | Nov 14, 2012 | Accounting News
With investors abandoning retail and commercial super funds in the wake of the Global Financial Crisis and volatile stock markets, Self Managed Super Funds are quickly becoming one of the fastest growing sectors, with over 478,000 already established, according to the...
by Quinns_News | Nov 7, 2012 | Accounting News
Businesses primarily in the building and construction industry are required to report the total payments they make to each contractor for building and construction services. You should be keeping records of relevant contractor payments, including: • ABN • Name •...
by Quinns_News | Nov 7, 2012 | Accounting News
The Australian Taxation Office (ATO) is responsible for ensuring that everyone pays the right amount of tax. A tax enquiry or audit is an examination of your tax affairs by the ATO to see if you have done what you are required to do under the tax laws, including...
by Quinns_News | Oct 31, 2012 | Accounting News
Before you contemplate bankruptcy, it is important to know there are other alternatives. Bankruptcy is the legal process that controls the affairs of those who are insolvent, meaning those people who are unable to pay all their debts as they are due. However, it is...
by Quinns_News | Oct 31, 2012 | Tax Advice and Updates
The Taxation Administration Act 1953 (TAA 1953) has been amended recently to provide the ATO with discretion to retain certain refunds to undertake integrity checks on claims. The amendment is outlined in section 8AAZLGA, which received royal assent on Wednesday 27...
by Quinns_News | Oct 24, 2012 | Accounting News
A family trust can be an important, if not critical, determinant of your livelihood especially if it is your main source of income. It therefore follows that you should be aware of not just your rights under a family trust, but you also need to know how your trust...
by Quinns_News | Oct 24, 2012 | Accounting News
Outlined in the Payroll Tax Act 2007 (NSW), payroll tax is a state tax regulated and collected by the NSW Office of State Revenue (OSR) and not the Australian Taxation Office (ATO). It is vital for employers to understand the payroll tax system and what wages are...
by Quinns_News | Oct 18, 2012 | Accounting News
The new financial year brings with it significant changes to the tax system. With new changes and reforms introduced such as the recent changes regarding students on government benefits, removal of the Education Tax refund (replaced with the Schoolkids bonus)...
by Quinns_News | Oct 18, 2012 | Accounting News
Small business benchmarks are a guide to help businesses compare their performance against similar businesses in an industry. The benchmarks are calculated from information reported on the income tax returns and activity statements of businesses that operate in...
by Quinns_News | Oct 9, 2012 | Accounting News
The Australian Competition and Consumer Commission (ACCC) recently launched a one day sweep of websites with unclear or misleading Terms and Conditions on the internet. The sweep aimed to focus on the right consumers have online in relation to repair, replace and...
