by Quinns_News | Oct 1, 2014 | Accounting News
As an Australian resident for tax purposes you are liable to pay an income tax on your taxable income which is calculated by subtracting allowable deductions from assessable income. The greater the deductions that you can claim, the smaller will be the taxable income...
by Quinns_News | Sep 24, 2014 | Accounting News
One thing to think is how many challenges your business faces. Are there enough? In an environment of great political, legislative, economic, social & technological change, success will not come naturally. You need to make important decisions about how you operate...
by Quinns_News | Sep 24, 2014 | Accounting News
The majority of clients seek advice regarding day-to-day business transactions. There is a fundamental difference between tax planning and tax evasion. Tax planning is a legitimate practice aimed to minimise tax liabilities through activities that are allowed under...
by Quinns_News | Sep 17, 2014 | Accounting News
The Director’s Penalty Regime (‘DPR’) was introduced in 1993. The main objective of the DPR is to ensure that directors cause their companies to meet the relevant tax obligations or promptly put the company into administration or liquidation. Initially, directors...
by Quinns_News | Sep 17, 2014 | Accounting News
If you are a foreign or temporary resident or the trustee of a foreign trust, you are subject to CGT if a CGT event happens to a CGT asset that is taxable Australian property (TAP). Under the Income Tax Assessment Act 1997 (Cth) (ITAA97) CGT assets that are taxable...
by Quinns_News | Sep 9, 2014 | Accounting News
The distinction between “employee” and “independent contractor” is crucial for many areas of tax, super and other government obligations. The ATO requires businesses to keep records to support the decision of whether your worker is an employee or contractor and the...
by Quinns_News | Sep 3, 2014 | Accounting News
In recent times the state revenue offices have increased their audit activities in the payroll tax area, particularly with respect to grouping and contractor payments. For payroll tax purposes, businesses may be grouped with other businesses if there is a link between...
by Quinns_News | Sep 3, 2014 | Accounting News
Whilst keeping up to date with your employment contracts, rental agreements and insurance payments may not be at the top of your ‘to do’ list, letting them expire can not only leave your business open to heartache but can also have serious consequences directly...
by Quinns_News | Sep 3, 2014 | Accounting News
Come tax time, every cent counts. Owning a rental property allows you access to a range of a possible tax deductions that can boost your tax refund and save yourself from paying more. Many investors can miss out on maximising their rental property claims simply...
by Quinns_News | Sep 3, 2014 | Legal News
The new financial year not only means getting ready for tax time, it also means being prepared for the various legal changes that will affect smooth sailing for the year ahead. By now, your business should be aware and have all these changes under control, and if not,...
