by Val Tse | Apr 1, 2019 | Business
From 1 July 2019, businesses will only be able to claim deductions for payments that are made to workers (employees or contractors) when the employer has complied with the pay-as-you-go (PAYG) withholding and other tax reporting obligations for that payment. If the...
by Val Tse | Apr 1, 2019 | Business
Among the first batch of tax legislation the government dealt with in the new year was a bill that contained changes to the “same business” test. The same business test is relevant in a number of contexts, but most particularly in determining if a company is eligible...
by Val Tse | Mar 3, 2019 | Business
Going into new business with other people is exciting and can be extremely rewarding. A formal agreement can set the ground rules and stop owners getting caught out if things don’t quite go as well as planned. Whether your firm is structured as a partnership or a...
by Val Tse | Nov 5, 2018 | Business, SMSF
Under the regulations, self-managed super funds (SMSFs) are not prohibited from carrying on a business, however the business must be: allowed under the SMSF’s trust deed, and operated for the sole purpose of providing retirement benefits for fund members. Note however...
by Val Tse | Nov 5, 2018 | Business, Christmas Party
It’s not quite Christmas time yet, but most businesses will be in the process of thinking ahead to the yuletide festivities, if not already into well-advanced planning. One of the perennial questions is if and how fringe benefits tax applies to these activities. There...
by Val Tse | Nov 5, 2018 | Business, GST
Sometimes your business may end up using an asset you purchased, such as a property for example, in a way that is different to what you had originally planned. It pays to remember that if you claimed GST credits for assets that have had their intended use change from...
