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...
by Quinns_News | Jan 25, 2012 | Accounting News
As an individual, you must pay tax to the Government in proportion to your earnings for the financial year period. In addition to the marginal tax income rates that are used to calculate the base amount of tax payable, taxpayers may be eligible to claim deductions or...
by Quinns_News | Jan 11, 2012 | Accounting News
Corporate entities are afforded a lot of tax benefits and flexibility in the way that they manage their tax affairs, particularly in their treatment of available tax losses. One such benefit is the ability to carry forward losses accumulated in one income year for...
by Quinns_News | Jan 11, 2012 | Accounting News
Land tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax. Landowners are generally liable for land...
by Quinns_News | Dec 21, 2011 | Accounting News
From 12 December 2011, the Australian Tax Office will send default assessment warning letters to some clients of tax agents with overdue income tax returns where the Tax Office has evidence these taxpayers received taxable income in the relevant financial years. These...
by Quinns_News | Dec 21, 2011 | Accounting News
Statistics indicate that the majority of the Australian public are under-insured. These statistics also indicate that in the event of the premature death of a parent, most Australian families would require at least ten years current annual income to ensure their...
