by Quinns_News | Mar 14, 2012 | Accounting News
A log book is a written record of your business use of a motor vehicle over a period of time. Log books must be recorded in English and must be made at the end of the journey or as soon as possible afterwards. Log books must be kept for 12 consecutive weeks in the...
by Quinns_News | Mar 7, 2012 | Accounting News
Purchasing an investment property is something that many Australians look to when trying to secure a second stream of income. An investment property, such as a holiday house, seems like an ideal escape during the holiday season and allows you to earn extra income by...
by Quinns_News | Feb 8, 2012 | Accounting News
On 14 December 2011, the Australian Tax Office (ATO) sent default assessment warning letters to tax payers who have overdue income tax returns where they had evidence they received taxable income in the relevant financial years. These letters were titled...
by Quinns_News | Feb 1, 2012 | Accounting News
Last week (week ending 29 January 2012) despite the public holiday, the ATO and WorkCover issued just under 200 Winding Up Notices. Australian companies may be wound up by the Court if creditors are pursuing the debt owed. In these cases the creditor was ATO or...
by Quinns_News | Feb 1, 2012 | Accounting News
Bankruptcy refers to the situation where an individual is unable to meet their financial obligations and repay accrued debt. It occurs when an individual does not have enough money/assets to pay creditors or a debt that is owed. However, it is not to be confused with...
by Quinns_News | Feb 1, 2012 | Accounting News
What is Insolvency? Insolvency law has become a generic term for what used to be called company liquidations and bankruptcy. As defined by the Corporations Act, insolvency is the inability to pay debts, as they fall due, out of the debtor’s company resources and...
