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...
by Quinns_News | Jul 15, 2015 | Consumer News
Buying long term investment properties is one of the most popular investment strategies for Australians, and has been for some time. A good investment can create ongoing cash flow, improve your wealth, bolster your assets and reward you with long term financial...
by Quinns_News | Jul 8, 2015 | Accounting News
The Small Enterprise Association of Australia & New Zealand (SEAANZ) is a not-for-profit company which focuses on research, education, policy and practice in the field of small to medium enterprise and entrepreneurship. It organises annual conferences to discuss...
by Quinns_News | Jul 8, 2015 | Consumer News
In the event that a trust is created by way of settlement, it is recommended that a settlor should be a person who is not related to any of the beneficiaries, due to the application of s 102 of the ITAA 1936. Section 102 specifies the circumstances in which the...
by Quinns_News | Jul 1, 2015 | Consumer News
For a Will to be valid in New South Wales it must satisfy a number of formal requirements set out in legislation. However, a document may still be considered a person’s final Will even if it fails to comply with formal requirements (“informal will”). Section 8 of the...
by Quinns_News | Jul 1, 2015 | Legal News
It is important to correctly determine whether your worker is an employee or a contractor as different rules by different regulators apply to both. For example, the tax and superannuation obligations that are applicable to your worker are dependent on whether they are...
by Quinns_News | Jun 24, 2015 | Accounting News
Is your superannuation money safe from the ATO? In the event that you owe money to the ATO, it appears that your super fund is not out of their reach. The ATO has the power to collect monies owed directly from third parties who owe or hold money to or for the debtor....
