by Quinns Blog | Oct 9, 2019 | Blog
When a person passes away, their beneficiaries may inherit a death benefit through a superannuation fund. Often, and as is the case with the majority of super funds, this death benefit is paid to the member’s legal personal representative (LPR), whom, if the person...
by Quinns Blog | Oct 9, 2019 | Blog
The recent Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 (the Bill), is set to come into effect from 1 October 2019, is a part of the Government’s suite of tough new tax integrity measures targeting illegal phoenixing activity. While the Bill...
by Quinns Blog | Oct 2, 2019 | Blog
In accordance with new figures from the Australian Securities and Investments Commission (ASIC), NSW construction companies are rapidly folding due to a drastic decrease in building and a rising illegal trend known as ‘phoenixing’. The statistics demonstrate that 169...
by Quinns Blog | Oct 2, 2019 | Blog
Taxis exempt under FBT but Uber / Ola are not!! Any benefit arising from taxi travel by an employee is exempt from fringe benefits tax (FBT) if the travel is a single trip beginning or ending at the employee’s place of work. Any benefit arising from taxi travel...
by Quinns Blog | Sep 25, 2019 | Blog
A public officer is a company’s representative to the ATO and is responsible for the company’s obligations under Section 252 of the Income Tax Assessment Act 1936. The public officer is responsible for the company complying with the act and is also liable for the...
by Quinns Blog | Sep 25, 2019 | Blog
If someone is in financial strife, one option is to declare bankruptcy. But what happens to their superannuation (super)? The Bankruptcy Act 1966 defines super as a ‘on-divisible asset’ – in other words, it’s protected from creditors. Therefore, once someone has...
by Quinns Blog | Sep 18, 2019 | Blog
The full Federal court last week confirmed that all employees (including part-time employees) are entitled to 10 “working days” of personal/carer’s leave per year under the Fair Work Act, regardless of how many hours the employees work per day or how many days are...
by Quinns Blog | Sep 18, 2019 | Blog
Over the coming months the ATO is increasing its focus on the bulk ABN cancellation program, to continue to ensure the integrity of the Australian Business Register. The ATO has refined its models to help it identify businesses that are no longer active or have...
by Quinns Blog | Sep 11, 2019 | Uncategorized
A recent High Court judgement has helped resolve uncertainty around the treatment of employee claims in the winding up of trading trusts. In June this year, the High Court of Australia dismissed an appeal in Carter Holt Woodproducts Australia Pty Ltd v The...
by Quinns Blog | Sep 11, 2019 | Blog
The ATO is taking a tougher stance on Superannuation Guarantee (SG) non-compliance and it could lead to errant employers facing harsh penalties – including a stint in prison. New legislation to Director Penalty Notices introduced on April 1, 2019, gives the ATO powers...
