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Did you know from 1 July 2018, GST will apply to sales of all goods to Australia. The previous $1,000 low-value threshold will no longer apply and those businesses that meet the $75,000 registration threshold will need to register, charge and remit GST to the ATO. This applies regardless of where the business is based.
Read MoreIt is said there are only two things certain in life, death and taxes, but what happens when they occur at the same time? Death of a loved one is not only a tumultuous time for the deceased family and friends but when the deceased is a member of a self-managed superannuation fund (SMSF) complications from trustee arrangements and payment of the death benefit come into play …
Read MoreWith the real estate market hotting up for another year, many home buyers will turn their thoughts to newly constructed residential premises or subdivisions, but a recent Bill introduced may increase the costs and complexity of such purchases …
Read MorePre-lodgement compliance reviews (PCRs) are increasingly being used by the ATO to resolve potential compliance concerns as they arise. Previously, PCRs have only been applied to significant taxpayers such as public companies, international groups and large Australian businesses. However, PCRs may now be extended to all other business taxpayers where compliance obligations have not been met in a consistently timely manner in the past …
Read MoreIt’s May which means it’s Budget time. In the last full Budget before the next Federal election, the Treasurer delivered an election Budget with enough sweeteners for everyone including businesses, income tax relief for individuals, measures to boost superannuation, and help for older Australians.
The 2018-19 Budget was handed down on 8 May by Treasurer Scott Morrison. In the last full Budget before the next Federal election, ScoMo delivered what was widely perceived to be an election Budget with lots of sweeteners for everyone. So what’s in it for you?
Read MoreLed by US and Asian markets, global markets roared into the New Year – it was the best start to a year for the S&P 500 index since 1987, as markets reacted to an across the board improving economic outlook.
Read MoreFBT season is in full swing with only a month to go until the due date for the lodgement of the return on 21 May 2018. If you haven’t started getting the required information together, now is the time. Remember if you give benefits to any current, prospective or former employees or associates in connection with their current, prospective or past employment, then you may be liable to FBT …
Read MoreSuperannuation fund members might end up paying 30 per cent more for their life insurance cover under the government's sweeping plans to stop account erosion in the $2.5 trillion super sector.
The federal government on Tuesday introduced measures that remove default life insurance for new superannuation fund members under 25, those with balances under $6000, and inactive members, as part of a move designed to bolster the retirement accounts of young savers and those on low income.
Read MoreOn 8 May 2018, the Government delivered the 2018-19 Federal Budget, and it would be reasonable to say that this Budget starts to lay a foundation for the next Federal election. The focus of the budget was building a stronger economy by creating jobs and guaranteeing essential services. As most households have had to tighten their budgets over the past few years, the Treasurer has announced that the Government must also live within its means. He said the Government has made real progress in getting the budget back on track and that it has stayed on track for a surplus for six successive budget updates.
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