by Quinns_News | Jul 19, 2017 | Blog
Understand Statutory Demand A statutory demand is a claim for a debt made by a person or company (creditor) against another company (debtor) for an amount over the statutory minimum as set out in the Corporations Act. A Statutory Demand must comply with certain...
by Quinns_News | Jul 19, 2017 | Blog
Know your Work-Related Expenses Work-related claims such as claims for car, travel, self-education and clothing expenses, represent one of the largest categories of claims made in individual tax returns. Around 8.5 million individuals claim work-related expenses on...
by Quinns_News | Jul 12, 2017 | Blog
By way of background since May 2007 it was common to increase the older person in the relationship superannuation balance at the expense of the younger spouse. Explaining your Spousal Balance Superannuation Let’s generalise and say for example you are born after 1965,...
by Quinns_News | Jul 12, 2017 | Blog
Recently, the Administrative Appeals Tribunal (‘AAT’) confirmed the Commissioner’s view that the description of the payment is not decisive when determining the superannuation guarantee (‘SG’) obligations; thus the taxpayer who reimbursed his employee for car expenses...
by Quinns_News | Jul 12, 2017 | Blog
An enduring power of attorney is a document that allows you to appoint someone to make personal or financial decisions on your behalf. In contrast to a general power of attorney, the enduring power of attorney remains effective even once you lose capacity (i.e. once...
by Quinns_News | Jul 5, 2017 | Blog
The trustee of a Self Managed Superannuation Fund is required to have the assets of the fund valued in the following circumstances. Note, it is not sufficient to value the assets at their cost price it is mandatory that they are valued at their market value. The...
by Quinns_News | Jul 5, 2017 | Blog
From 1 July 2017, Australian resident vendors selling real estate with a value of $750,000.00 or greater will be required to apply for a clearance certificate from the Australian Taxation Office (“ATO”) to ensure that an amount is not withheld from their sale...
by Quinns_News | Jul 5, 2017 | Blog
A client recently called and asked us for advice regarding GST implication in the sale of property by their self-managed superannuation fund (SMSF). SMSF in regards to renting The SMSF is not registered for GST. The fund purchased some GST-free residential land after...
by Quinns_News | Jun 27, 2017 | Blog
With the end of the financial year only a few days away, there are many things that you as a business owner have to consider, and it is important to be aware of these issues and get everything in order before 30 June. ATO tax debt Take care of any ATO debt you have as...
by Quinns_News | Jun 21, 2017 | Blog
SMSF members who are receiving retirement pensions or transition to retirement pensions (TTR’s) need to ensure that they make their minimum pension payments from their SMSF before the 30 June 2017. With less than two weeks to the end of the financial year, this could...
