Tax Saving

GST Grouping – Is it a Creditable Decision?

As a business grows new entities are frequently created to perform functions in the business group.  In most cases, these new entities will have associated compliance requirements, which will generally include GST obligations.  The additional compliance requirement for new entities generates administration costs to ensure amounts are correctly reported and remitted to the Australian [...]

GST Grouping – Is it a Creditable Decision?2020-10-27T09:25:18+10:00

Queensland Government – Payroll Tax Relief For Business

The Queensland government yesterday announced a 2.5 billion stimulus measure to provide Queensland businesses some relief from payroll tax. The Office of State Revenue has already commenced sending emails to businesses offering the payroll tax relief which provide detailed instructions on the process to follow to obtain the benefits. The main details of the [...]

Queensland Government – Payroll Tax Relief For Business2020-04-01T11:44:29+10:00

R&D Tax Incentive

The Research & Development Tax Incentive can allow a business to recoup some of the costs incurred during the development phase of eligible activities. This can assist cash-flow throughout the research and development phase, which is often draining on cash-flow. The rules and processes for the R&D tax incentive are based on complex legislation, [...]

R&D Tax Incentive2020-03-03T12:50:10+10:00

Christmas Tips for Small Business

It’s that time of year again – the lead up to Christmas. As the retail shops prepare to bombard us with Christmas trim we look at the ramifications for your business. Here are our top tips for a generous and tax effective Christmas season.  What to do for customers? The most effective way of sharing [...]

Christmas Tips for Small Business2019-11-14T11:27:40+10:00

Taxis vs Uber – same destination, different taxes!

The average person does not really think too much about taking a taxi or a ride-sourcing (often referred to as ride sharing) service such as Uber, Ola or Didi – it’s a decision based on service and cost. However, the ATO have particular views on these methods of travel, in particular, GST (Goods and Services [...]

Taxis vs Uber – same destination, different taxes!2019-09-30T10:28:22+10:00

Payroll Tax – Some changes for Queensland

From 1 July 2019, the Queensland payroll tax threshold has increased from $1.1 million to $1.3 million annually, resulting in some long overdue (albeit small) relief for Queensland employers. The rate for payroll tax remains the same at 4.75% for businesses with wages up to $6.5 million, but will increase for those over this to [...]

Payroll Tax – Some changes for Queensland2019-08-20T11:34:58+10:00

But Commissioner, my antique Louis Vuitton wasn’t taxable!

The ATO has obtained data from 25 insurance companies regarding the insured assets of taxpayers.  Why have the ATO obtained this information and what are they looking to gain from it? Essentially the ATO are looking to achieve two outcomes: Identify taxpayers who are operating outside the taxation system; and Identify taxpayers who are not [...]

But Commissioner, my antique Louis Vuitton wasn’t taxable!2019-08-12T10:15:41+10:00

What evidences are required to prove your residency status for tax purposes?

The recent Federal Court decision in Harding v FC of T [2018] FCA 837 provides some clarity on the tax residency of individuals and sheds some light on the uncertain area of law. The case examined residency according to ordinary concepts and domicile test in regards to Mr Harding's circumstances, and the courts have [...]

What evidences are required to prove your residency status for tax purposes?2019-03-13T12:44:07+10:00

Recent QBCC changes (January 2019)

The building and construction industry has always been one of the most heavily scrutinised and regulated industries, with 2019 shaping up to be a year re-enforcing this view, with new reforms from the QBCC commencing 1 January 2019. Author Michael Kerwin Why the need for change: We will [...]

Recent QBCC changes (January 2019)2019-01-22T15:21:09+10:00

Record keeping – requirements & tips!

Why is recordkeeping necessary? The Australian taxation system is based on taxpayers self-assessing their tax lodgements.  Each taxpayer is responsible for determining the income they need to declare and what expenses are deductible.  Taxpayers need to maintain adequate records and must be able to substantiate these if requested by the ATO. Author [...]

Record keeping – requirements & tips!2018-12-11T08:02:57+10:00
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