by Quinns_News | Feb 1, 2012 | Legal News
On 19 October 2011, the New South Wales Parliament passed legislation that makes a number of changes to the Home Building Act 1989 (NSW) (“the Act”). Please find some of the changes outlined below. Changes that apply from October 2011 The following changes are now in...
by Quinns_News | Feb 1, 2012 | Accounting News
Last week (week ending 29 January 2012) despite the public holiday, the ATO and WorkCover issued just under 200 Winding Up Notices. Australian companies may be wound up by the Court if creditors are pursuing the debt owed. In these cases the creditor was ATO or...
by Quinns_News | Feb 1, 2012 | Accounting News
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 to be confused with...
by Quinns_News | Feb 1, 2012 | Accounting News
What is Insolvency? Insolvency law has become a generic term for what used to be called company liquidations and bankruptcy. As defined by the Corporations Act, insolvency is the inability to pay debts, as they fall due, out of the debtor’s company resources and...
by Quinns_News | Jan 25, 2012 | Accounting News
As an individual, you must pay tax to the Government in proportion to your earnings for the financial year period. In addition to the marginal tax income rates that are used to calculate the base amount of tax payable, taxpayers may be eligible to claim deductions or...
by Quinns_News | Jan 25, 2012 | Legal News
Under the National Employment Standards (NES), an employer who is defined as a small business employer is not required to provide redundancy pay. However, an employer may have redundancy pay obligations under an industrial instrument or contract of employment. A small...
by Quinns_News | Jan 19, 2012 | Consumer News
The passing of a loved one is a particularly emotional and devastating time. This can be made all the more horrific if there is any kind of dispute against the Will of the deceased. Disputes often arise when parties that are associated with the deceased person...
by Quinns_News | Jan 11, 2012 | Accounting News
Corporate entities are afforded a lot of tax benefits and flexibility in the way that they manage their tax affairs, particularly in their treatment of available tax losses. One such benefit is the ability to carry forward losses accumulated in one income year for...
by Quinns_News | Jan 11, 2012 | Accounting News
Land tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax. Landowners are generally liable for land...
by Quinns_News | Dec 21, 2011 | Accounting News
From 12 December 2011, the Australian Tax Office will send default assessment warning letters to some clients of tax agents with overdue income tax returns where the Tax Office has evidence these taxpayers received taxable income in the relevant financial years. These...
