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 | Legal News
On 19 October 2011, the New South Wales Parliament passed legislation that makes a number of changes to the Home Building Act 1989 (NSW) (“the Act”). Please find some of the changes outlined below. Changes that apply from October 2011 The following changes are now in...
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...
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...
