by Quinns_News | Sep 4, 2013 | Newsletter Features
An executor is a person appointed by another in a Will to act in respect of the estate of the testator upon his or her death. The role of the executor is to manage the estate within the terms of the Will and protect the assets of the estate. In general terms, an...
by Quinns_News | Sep 4, 2013 | Newsletter Features
Making contributions to your super is a great way to plan for your retirement. You can do this by salary sacrificing your super. Many people have heard the term ‘salary sacrifice’ but what does it actually mean? Salary Sacrificing is when you ask your employer to...
by Quinns_News | Sep 4, 2013 | Newsletter Features
The Australian Taxation Office has launched a campaign against tax avoidance schemes run by trust funds and debt-laden companies. The campaign encourages people whose trusts use these schemes to come forward voluntarily to avoid heavy penalties and possibly...
by Quinns_News | Aug 28, 2013 | Accounting News
When completing your tax return, you’re entitled to claim deductions for some expenses that are directly related to earning your income. You subtract these allowable deductions from your total income to arrive at your taxable income. You only pay tax on your...
by Quinns_News | Aug 28, 2013 | Accounting News
All businesses in Australia are required to lodge an annual company tax return. How your business lodges its annual income tax return depends on the type of business structure it operates under. Business Tax Lodgement Sole traders You report your taxable income or...
by Quinns_News | Aug 21, 2013 | Consumer News
The Bankruptcy Act 1966 does not restrict a bankrupt from being employed and earning an income during their bankruptcy. However, if your after-tax income exceeds a certain amount you will have to pay contributions from your income to your trustee. The Bankruptcy Act...
by Quinns_News | Aug 21, 2013 | Accounting News
What to Keep As a legal requirement, all employee and contractor records must be kept for five years. Records may be paper or electronic and must be in English. If you do decide to keep electronic records, make sure you choose a software package that meets your...
by Quinns_News | Aug 14, 2013 | Consumer News
A Will is a legal document that sets out who you want to receive your assets when you die. Making a Will is the only way you can ensure your assets will be distributed according to your wishes when you die. Studies show that at least 45% of Australians do not have a...
by Quinns_News | Aug 14, 2013 | Accounting News
What is Intellectual Property? Intellectual property (IP) represents all rights and entitlements obtained from mental or intellectual activity. This can come in the form of an invention, trade mark, original design or the practical application of a good idea. When you...
by Quinns_News | Aug 7, 2013 | Consumer News
How to get through Bankruptcy Bankruptcy is the legal process that controls the affairs of those who are insolvent, meaning those people who are unable to pay all their debts as they are due. However, it is important to note that bankruptcy is not the inevitable...
