by Quinns_News | Nov 28, 2012 | Legal News
Has a family member or friend asked you to be a ‘co-borrower’ or guarantee a loan for them? Being a guarantor means that you are legally bound to pay back the borrower’s loan if they can not or will not. Before you say yes, think carefully – you could lose not...
by Quinns_News | Nov 21, 2012 | Accounting News
A salary sacrifice arrangement is also commonly referred to as salary packaging or total remuneration packaging. It is an arrangement between you and your employer, whereby you agree to forgo part of your future entitlement to salary or wages in return for your...
by Quinns_News | Nov 21, 2012 | Accounting News
Who What When? The Australian Charities and Not-for-profits Commission (ACNC) is the new national regulator of charities. Coming into effect early December 2012, the ACNC will determine charitable status and register new organisations as charities. The ACNC will be...
by Quinns_News | Nov 14, 2012 | Accounting News
Changes have been made to the concessional tax treatment of fringe benefits tax (FBT) for living-away-from-home allowance (LAFHA) and benefits. If you are an employer and you provide any living-away-from-home allowances and/or benefits to your employees, or are...
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...
