by Quinns_News | Aug 22, 2012 | Tax Advice and Updates
Expenditure for repairs you make to your investment property may be tax deductible. However, the repairs must relate directly to wear and tear or other damage that occurred as a result of your renting out the property. Repairs generally involve a replacement or...
by Quinns_News | Aug 15, 2012 | Accounting News
In a time when according to the ATO, ‘sham contracting arrangements’ are on the rise, it is crucial to establish whether you are an employee or an independent contractor. There are a number of indicators to help tell the difference between an employee and an...
by Quinns_News | Aug 15, 2012 | Accounting News
Capital gains tax (CGT) is the tax you pay on any capital gain that you make. There is no separate tax on capital gains, rather the capital gains tax forms part of your income tax when you include that capital gain on your tax return. You are taxed on your net capital...
by Quinns_News | Aug 8, 2012 | Accounting News
What is a receivership? A company most commonly goes into receivership when a receiver is appointed by a secured creditor who holds security over some or all of the company’s assets. What is the receiver’s role? The receiver’s role is to: • collect and sell enough of...
by Quinns_News | Aug 8, 2012 | Accounting News
ATO rule changes have seen a rush of SMSFs getting into property mainly due to changes introduced in 2007 that in effect allow funds to borrow to buy an asset. By investing in property, and with the right strategies and advice, you can successfully set yourself up...
by Quinns_News | Aug 1, 2012 | Accounting News
The ATO has recently presented a draft determination (TD 2012/D4) clarifying instances where capital gains tax may arise following a trustee’s valid exercise of their powers under a trust deed to amend the terms of a settled trust. At present, ambiguity arises when an...
by Quinns_News | Aug 1, 2012 | Accounting News
What is Payroll Tax? Payroll tax is imposed by the Office of State Revenue (OSR) on an employer’s liable NSW wages minus any threshold entitlement. As the majority of entities employ staff, payroll is usually one of their largest expenses. It can be of either a...
by Quinns_News | Jul 25, 2012 | Consumer News
Unfair dismissal laws only cover employees who are covered by the national workplace relations systems. Other employees may have access to remedies under State legislation. An employee has been unfairly dismissed if Fair Work Australia (FWA) finds that: • they were...
by Quinns_News | Jul 25, 2012 | Accounting News
What is Workers Compensation? Workers compensation provides protection to workers and their employers in the event of a work related injury or disease. Through the workers compensation system, injured workers may have an entitlement to weekly payments, lump sums for...
by Quinns_News | Jul 18, 2012 | Accounting News
If you’re a director or secretary of a small company, you must follow the requirements set out in the Corporations Act 2001 (Corporations Act). Even if you appoint an agent to look after the company’s affairs, you—not the agent—may still be held responsible for those...
