by Quinns_News | Apr 4, 2012 | Accounting News
What is Bankruptcy Bankruptcy refers to the situation where an individual is unable to meet their financial obligations and repay accrued debt. It occurs when an individual does not have enough money/assets to pay creditors or a debt that is owed. However, it is not...
by Quinns_News | Mar 28, 2012 | Accounting News
If you have assessable income from overseas, you must declare it in your Australian income tax return. If you have paid foreign tax in another country, you may be entitled to an Australian foreign income tax offset, which provides relief from double taxation. You can...
by Quinns_News | Mar 28, 2012 | Accounting News
Recent statistics have reported 70% of employers are non-compliant with their Fringe Benefit Tax (FBT) obligations and 69% of employers failing to lodge a FBT return. As a result, the Australian Tax Office (ATO) has broadened its reach to the SME and large business...
by Quinns_News | Mar 21, 2012 | Consumer News
The New Changes From 30 April 2012, the insertion of sections 34 and 35 into the Oaths Act 1900 will require any authorised witness sighting the execution of a statutory declaration or an affidavit to take positive steps to identify the person making the declaration...
by Quinns_News | Mar 21, 2012 | Accounting News
It is compulsory for every business to keep records of its business transactions. In order to do this a bookkeeper is needed to assist in recording the financial transactions of the business. This process involves the use of a computerised accounting system or it can...
by Quinns_News | Mar 14, 2012 | Consumer News
Need to Know A Will is one of the most important documents that you will sign in your lifetime. Creating a valid Will is not as simple as most people think, and as a result we advise that it is not wise to utilise the ‘home-made’ or ‘newsagents’ Will. This document...
by Quinns_News | Mar 14, 2012 | Accounting News
A log book is a written record of your business use of a motor vehicle over a period of time. Log books must be recorded in English and must be made at the end of the journey or as soon as possible afterwards. Log books must be kept for 12 consecutive weeks in the...
by Quinns_News | Mar 7, 2012 | Tax Advice and Updates
If you are an employer and have provided Fringe Benefits to employees over the course of the Fringe Benefits Tax year, from 1 April 2011 to 31 March 2012, you will be liable for FBT on those benefits. Eligible Fringe Benefits include: Allowing an employee to use a...
by Quinns_News | Mar 7, 2012 | Accounting News
Purchasing an investment property is something that many Australians look to when trying to secure a second stream of income. An investment property, such as a holiday house, seems like an ideal escape during the holiday season and allows you to earn extra income by...
by Quinns_News | Mar 7, 2012 | Legal News
In the first quarter of the year, the Fair Work Ombudsman (FWO) launched thousands of audits into retail businesses, and found that over a quarter of them were in breach of workplace regulations and laws. Although many of the businesses were doing so unaware of the...
