by Quinns_News | Aug 22, 2012 | Accounting News
On 29 June 2012, changes were made to the tax laws to reduce the scope for companies to engage in fraudulent phoenix activity or to escape liabilities and payments of employee entitlements. Phoenix activity involves a company intentionally accumulating debts to...
by Quinns_News | Aug 15, 2012 | Accounting News
In a time when according to the ATO, ‘sham contracting arrangements’ are on the rise, it is crucial to establish whether you are an employee or an independent contractor. There are a number of indicators to help tell the difference between an employee and an...
by Quinns_News | Aug 15, 2012 | Accounting News
Capital gains tax (CGT) is the tax you pay on any capital gain that you make. There is no separate tax on capital gains, rather the capital gains tax forms part of your income tax when you include that capital gain on your tax return. You are taxed on your net capital...
by Quinns_News | Aug 8, 2012 | Accounting News
What is a receivership? A company most commonly goes into receivership when a receiver is appointed by a secured creditor who holds security over some or all of the company’s assets. What is the receiver’s role? The receiver’s role is to: • collect and sell enough of...
by Quinns_News | Aug 8, 2012 | Accounting News
ATO rule changes have seen a rush of SMSFs getting into property mainly due to changes introduced in 2007 that in effect allow funds to borrow to buy an asset. By investing in property, and with the right strategies and advice, you can successfully set yourself up...
by Quinns_News | Aug 1, 2012 | Accounting News
The ATO has recently presented a draft determination (TD 2012/D4) clarifying instances where capital gains tax may arise following a trustee’s valid exercise of their powers under a trust deed to amend the terms of a settled trust. At present, ambiguity arises when an...
