by Quinns_News | Aug 16, 2017 | Blog
Payroll tax is applied to a business’s New South Wales (NSW) taxable wages that exceed the payroll tax threshold. The payroll tax threshold for 2018 financial year is $750,000. An employer is required to pay 5.45% payroll tax on taxable wages above this threshold. The...
by Quinns_News | Aug 9, 2017 | Blog
Accessing Superannuation To access your superannuation, prior to retirement, under the ATO’s financial hardship provisions you must satisfy the following conditions; 1. you cannot meet your day to day family living expenses, and 2. you have been receiving government...
by Quinns_News | Aug 9, 2017 | Blog
Stamp Duty Surcharge The 2016 NSW Budget introduced a surcharge purchaser duty (stamp duty) on the purchase of residential real estate by foreign persons from 21 June 2016. The surcharge is in addition to the stamp duty payable on the purchase of residential property....
by Quinns_News | Aug 9, 2017 | Blog
Using Testamentary Trusts Estate planning allows testators to exercise a higher level of control over the distribution and management of their wealth to beneficiaries. Testamentary trusts are an effective estate planning tool because of their ability to protect assets...
by Quinns_News | Aug 2, 2017 | Blog
A travel allowance is a payment made to an employee to cover accommodation, food, drink or incidental expenses they incur when they travel away from their home overnight in the course of their duties. Generally, allowances folded into an employee’s salary or...
by Quinns_News | Aug 2, 2017 | Blog
Research and Development Arrangements Explained The ATO has released various taxpayer alerts this year in relation to arrangements that seek to exploit the Research and Development (“R&D”) tax incentive. The ATO is closely reviewing such arrangements to disallow...
