by Quinns_News | Aug 19, 2015 | Accounting News
Joe Hockey recently revealed that there are currently 195 cases under investigation by the Foreign Investment Review Board (“FIRB”). Approximately 24 of these cases have involved a foreign investor that has voluntarily come forward to indicate that they may have...
by Quinns_News | Aug 12, 2015 | Accounting News
What is payroll tax? Payroll tax is a state and territory tax that is imposed on employers and is calculated based upon the amount of taxable wages paid. The 5.45% tax is payable when an employer’s total Australian wages exceed the tax-free threshold. Australian wages...
by Quinns_News | Aug 12, 2015 | Legal News
What you Need to Know The case of Di Cioccio v Official Trustee in Bankruptcy considered whether after acquired property purchased with after acquired money vested in the Official Trustee (OT) upon bankruptcy and was divisible among his creditors. The decision reached...
by Quinns_News | Aug 5, 2015 | Accounting News
Businesses in the building and construction industry have an obligation to report the total payments they make to each contractor for building and construction services each financial year. These payments need to report to ATO using the Taxable Payment Annual Report...
by Quinns_News | Aug 5, 2015 | Consumer News
Resolve Your Neighbourhood Dispute Living side by side with your neighbours when involved in a neighbourhood dispute isn’t easy, but rushing straight into the courtroom is often not the best course of action. No matter what the dispute, your best option is usually to...
by Quinns_News | Jul 29, 2015 | Accounting News
With the recent announcement and discussion of the new federal budget, it is time for business owners to get ready for the 2015 tax return and begin tax planning for the future. The following are essential tasks for you undertake at the end of financial year. What to...
by Quinns_News | Jul 29, 2015 | Financial Planning News
While these rules apply for all collectables acquired from 1 July 2011, collectables already held in an SMSF as at 30 June 2011 were given a five year transitional period to comply. That five year period ends on 30 June 2016. Know the rules It means trustees have just...
by Quinns_News | Jul 22, 2015 | Accounting News
Most income your business receives is assessable income – which means you need to declare it and it’s subject to tax. You can claim tax deductions for most costs you incur in running your business but there are exceptions. For example, you cannot claim...
by Quinns_News | Jul 22, 2015 | Consumer News
Testamentary discretionary trusts have become increasingly popular due to the various benefits it provides. One of the benefits is that it provides the testator a measure of control over their assets after death. Another benefit is that due to the control given to a...
by Quinns_News | Jul 15, 2015 | Accounting News
Effectively managing your tax affairs can help avoid tax shocks. Australia’s income tax system is based on self-assessment. This means that information you provide to the ATO is initially accepted as being true and correct when you lodge your tax return and...
