by Quinns_News | Feb 22, 2012 | Tax Advice and Updates
Capital Gains Tax (CGT) is the tax you pay on any capital gain you make, which you include in your annual income tax return. There is no separate tax on capital gains, it is a component of your income tax. You are taxed on your net capital gain at your marginal tax...
by Quinns_News | Feb 22, 2012 | Tax Advice and Updates
The Australian Taxation Office (ATO) and federal law enforcement agencies want to intensify their campaign against offshore tax evasion, with increased penalties and greater powers for investigators expected to be considered by the federal government this year....
by Quinns_News | Feb 15, 2012 | Tax Advice and Updates
A director of a company that has a tax debt to the ATO (often in relation to PAYG withholding amounts) may be served with a Director Penalty Notice also known as a “DPN”. The aim of a Director Penalty Notice or DPN is to make directors liable for their company’s...
by Quinns_News | Oct 19, 2011 | Tax Advice and Updates
The new financial year brings with it significant changes to the tax system. With new exemptions and tax deductions being introduced such as the recent changes regarding the Family Tax Benefit and the Education Tax Refund and also the Flood Levy which will need to be...
by Quinns_News | Oct 5, 2011 | Tax Advice and Updates
The Research and development (R&D) tax incentive provides a tax offset for eligible R&D activities and is targeted towards innovation that benefits Australia. The incentive came into effect on 1 July 2011 and replaced the R&D tax concession. There are...
by Quinns_News | Sep 7, 2011 | Tax Advice and Updates
Net medical expenses are the medical expenses you have paid, minus any refunds of these expenses which you or any other person has received, or are entitled to receive, from Medicare and/or a private health insurer. Many taxpayers are unaware that you can claim a tax...
