by Quinns_News | Nov 15, 2017 | Blog
Regardless much income your business produces there are several common ways of getting on the ATO radar and triggering an audit. Often a simple GST audit escalates to a larger review to include income tax and other issues. Taking steps to manage the risk ensures that...
by Quinns_News | Nov 15, 2017 | Blog
To strengthen compliance with the GST law pursuant to a previous announcement in the 2017-18 Budget, the government recently released an exposure draft of legislation requiring purchasers of new residential premises, home sites or new subdivisions to remit the goods...
by Quinns_News | Nov 8, 2017 | Blog
In the 2017 mid-year budget the Government announced that it will allow the Australian Taxation Office (ATO) to disclose tax debt information to registered credit reporting bureaus (CRBs). These new powers are intended to encourage taxpayers to manage their unpaid...
by Quinns_News | Nov 8, 2017 | Blog
The number of people working after turning 65 is increasing. The workforce participation rate in Australia for people aged 65 and over increased from 5.3 per cent in 1990 to 6.2 per cent in 2000. And in March 2016, the rate increased to 13 per cent. Working past the...
by Quinns_News | Nov 1, 2017 | Blog
The ATO has a responsibility to the community to ensure everyone complies with Australia’s tax laws. For this reason, they conduct audits and investigations to check the accuracy of the information that’s provided to them. The audit process can be a very...
by Quinns_News | Oct 25, 2017 | Blog
Part IVA of the Tax Administration Act 1953 (Cth) gives the Commissioner the power to issue a departure prohibition order (“DPO”) which prohibits a tax debtor from leaving Australia, regardless of whether the tax debtor intends to return. The purpose is to stop tax...
by Quinns_News | Oct 25, 2017 | Blog
Notice of termination and redundancy pay forms part of the National Employment Standards (NES). The NES apply to all employees covered by the national workplace relations system, regardless of any award, agreement, or contract. The NES establish the minimum...
by Quinns_News | Oct 18, 2017 | Blog
Did you know, according to Ms Sharkie, the federal member for Mayo, “there are at least 2.4 million workers in this country who have been underpaid their super.” If Ms Sharkie is correct, that is massive. Considering Australia has a workforce of approximately 12.5...
by Quinns_News | Oct 18, 2017 | Blog
Division 353 of the Taxation Administration Act 1953 (Cth) gives the Commissioner extensive access and information gathering powers which are often used at the outset or in the process of an investigation into a taxpayer’s affairs. The ATO can use these formal powers...
by Quinns_News | Oct 18, 2017 | Blog
As from 1 July 2017, the threshold at which the additional 15% Division 293 tax applies on concessional contributions is lowered from $300,000 to $250,000. An individual’s ‘income’ from Division 293 purposes includes not only taxable income, but also any total net...
