Tax Saving

Early Stage Investor Tax Offset explained!

2017-10-11T09:39:38+00:00

There’s been much talk around innovation since Prime Minister Malcolm Turnbull launched the government’s innovation statement in December 2015 with many a tax break, concession, and relaxation announced. This article will focus on the Early Stage Investor Tax Offset that has been effective for new share investments made from 1 July 2016 after the Tax [...]

Early Stage Investor Tax Offset explained! 2017-10-11T09:39:38+00:00

Happy New Financial Year!

2016-07-01T15:34:56+00:00

As we put down the credit cards after the plethora of end of financial year sales events, we kick off what we all hope will be a prosperous new financial year. Despite the many uncertainties in global markets and governments, we wanted to take the opportunity to remind you of some important points as we [...]

Happy New Financial Year! 2016-07-01T15:34:56+00:00

Budget Summary

2017-10-11T09:40:23+00:00

Budget Summary The budget was handed down last night, and there were several major announcements.  Issues dealt with include: SUPERANNUATION • Imposing a lifetime limit of $500,000 on non-concessional superannuation contributions • Reducing the superannuation concessional contribution cap to $25,000 • Capping tax-free super to balance of $1.6 million • Removing tax-free earnings on TRIS accounts • Expanding the number [...]

Budget Summary 2017-10-11T09:40:23+00:00

Property Purchasers Beware

2016-02-18T11:34:13+00:00

The Federal Government has introduced legislation (to apply from 1 July 2016) which requires the purchaser of an Australian property to withhold 10% of the purchase price at settlement and pay this amount to the Australian Taxation Office (ATO). Whilst the withholding amount is designed to cover a “foreign resident” vendor’s potential capital gains tax [...]

Property Purchasers Beware 2016-02-18T11:34:13+00:00

R & D You may be entitled to claim.

2017-10-11T09:42:14+00:00

Don't miss out on this (generous) tax credit! Accessing the federal government's research and development tax incentives is often considered or assumed to be too complicated by many small to medium business owners. However the benefits can be well worth the effort, particularly given that the tax credit can be in the form of a [...]

R & D You may be entitled to claim. 2017-10-11T09:42:14+00:00

ATO Compliance Notices – Directors Penalty Notice (DPN)

2014-02-13T09:58:32+00:00

In July 2012, changes were made to the Directors Penalty Notice regime, which have increased the liability of Companies and personal exposure of their directors. These changes were introduced to ensure that Companies are compliant with the reporting and remittance of their PAYG and Superannuation obligations. The ATO signalled that it is no longer prepared [...]

ATO Compliance Notices – Directors Penalty Notice (DPN) 2014-02-13T09:58:32+00:00

New Government – the Coalition’s Tax Plans

2013-12-12T10:05:13+00:00

With a new government there are bound to be changes to tax legislation. Some of the coalition’s stated policies which may come into effect are: Reduce the company tax rate from 30% to 28.5% from 1 July 2015 Impose a 1.5% paid parental leave levy on companies with taxable income exceeding $5 million Scrap the [...]

New Government – the Coalition’s Tax Plans 2013-12-12T10:05:13+00:00