Employee share schemes and start-up concessions
Employee share schemes and start-up concessions by Valentine Tse | 27 June 2017 Motivationally speaking, there’s not much that beats a financial reward. And as it is generally accepted that business owners are the most driven to see their business succeed, giving...
ATO: Top 5 Helpline topics
ATO: Top 5 Helpline topics by Valentine Tse | 27 June 2017 As members of Tax & Super Australia will know, one of the most utilised services that members can access is our Helpline service. Through this service, members get direct access to our specialist tax...
Super changes from July 1 amended, but passed
Super changes from July 1 amended, but passed by Valentine Tse | 27 June 2017 The Treasury Laws Amendment (2017 Measures No. 2) Bill 2017, containing further amendments to the new superannuation rules kicking in on the 1 July 2017, has passed both houses of Parliament...
Work-related expenses: ATO guidance videos and occupational guidelines for your clients
Work-related expenses: ATO guidance videos and occupational guidelines for your clients by Valentine Tse | 27 June 2017 The following videos, supplied by the ATO, can help your clients understand the basic rules before making a claim for certain work-related expenses....
Payment, or not? The operation of Division 7A
Payment, or not? The operation of Division 7A by Valentine Tse | 15 Jan 2017 Division 7A is part of the Income Tax Assessment Act 1936 and is intended to prevent profits or assets being provided to shareholders or their associates tax free. A payment or other benefit...
Avoiding common tax return errors: Tips from the ATO
Avoiding common tax return errors: Tips from the ATO by Valentine Tse | 27 June 2017 While many may see recently issued ATO advice as re-stating the bleeding obvious, it does of course ring true when it says that lodging returns with incorrect or incomplete...
Federal Budget 2017
The budget announcements contain a suite of tax and superannuation measures aimed at increasing housing stock and improving housing affordability. While the government has not gone close to clamping down on the political and social hot potato of negative gearing, it...
Business costs, and the deductibility of interest expenses
If a business racks up an interest bill from borrowing funds to pay for the expenses of running the business, or to acquire other income-producing assets or investments, this expense is generally allowed as a tax deduction for the relevant year. For business taxpayers...
Are personal carer travel costs claimable? It depends
A recent court decision, and subsequent appeal, has ramifications for taxpayers with disabilities, and who are in need of a personal carer. The decision centres around what is or is not acceptable as a tax deduction in relation to the costs that arise with regard to that carer under certain conditions.
Selling up your business? Don’t forget the “going concern” GST exemption
The concept of a “going concern” exemption for the purposes of the goods and services tax (GST) can still cause confusion when businesses are sold. The sale of a business may be GST exempt if the enterprise is deemed to be a “going concern” — which refers to an enterprise’s ability to continue trading