Your practice

Relevant and practical knowledge and tools to build your business

Government commits more funding to TPB, but look where it’s coming from

  On the night the 2018 Federal Budget was tabled, the Chair of the Tax Practitioners Board (TPB), Ian Taylor, distributed a media release welcoming the Budget announcement of ongoing additional funding for the TPB, which he said would “ensure that the TPB is able to continue to meet its legislative responsibilities and protect consumers of

[ Read More ]

NALI concerns allayed for practitioners who DIY super

  The same piece of legislation that introduced a 12-month SG amnesty also clears up one small area of concern for accountants and other practitioners who are also members/trustees of their own SMSF. The legislation, Treasury Laws Amendment (2018 Superannuation Measures No 1) Bill 2018 (read it here) covers the amnesty but also deals with

[ Read More ]

Cash flow: It can be a make-or-break issue for small business

  Virgin entrepreneur Richard Branson once said the secret to success is to “never take your eyes off the cash flow because it’s the life blood of business”. And one of Rich Dad Poor Dad author Robert Kiyosaki’s oft-quoted pieces of advice is: “Making more money will not solve your problems if cash flow management

[ Read More ]

Due dates (Sept 2018)

  21 September Lodge and pay August 2018 monthly business activity statement. 30 September Lodge PAYG withholding payment summary annual report if prepared by a BAS agent or tax agent. If a payer has only closely held payees and their tax agent helps prepare their report, they may be eligible for a concession to lodge

[ Read More ]

New ATO rulings, determinations, decisions and guides (Sept 2018)

  PCG 2018/3 Exempt car benefits and exempt residual benefits: compliance approach to determining private use of vehicles LCR 2018/4 Purchaser’s obligation to pay an amount for GST on taxable supplies of certain real property TR 2018/4 Income tax: effective life of depreciating assets (applicable from 1 July 2018) WETR 2006/1 Wine equalisation tax: the

[ Read More ]