There have been some major changes recently that may alter the outcome if a business was to enter voluntary administration.
The first change is the introduction of ‘Safe Harbour’. The idea of the new safe harbour provision is to protect the directors of companies that go into……
Most people who come to Australia for a working holiday or visit are not Australian residents. This includes travellers on 417 or 462 visas (such as backpackers). This is because most backpackers, consistent with their visa requirements, do not intend to stay in Australia, but only intend to have a holiday….
Changes, updates and things to know for September 2018 New Education Requirements for Existing & New Advisers There has been a huge reform in regards to the education requirements of existing and new accountants and financial advisers who provide financial advice. Under the new laws…….
For some people the wait for their expected tax refund can seem to drag out! Many people are under the impression that once their tax return has been lodged via their tax agent that the refund is immediate, unfortunately this is not the case. We are seeing the ATO take…….
As of 1 July 2018, the Commissioner of Taxation has determined that the rate for work-related car expenses to be 68 cents per kilometre. The new rate remains applicable to subsequent income years until such time as the Commissioner determines that it should be varied. This determination applies to…
Like you, our clients, Initiative also has to meet specific lodgement targets with the ATO. These targets are reported to us by the ATO and outline our performance for the year. The most important thing to our tax agent status is our clients’…….
Here at initiative we are all about working smarter not harder. One way we do that is by embracing
cloud-based technology, like accounting/bookkeeping software Xero. Here are our top 5 tips……
If you operate a Self Managed Super Fund (SMSF) and are either in pension phase,
approaching pension phase or making changes to your pension, then these new……
If you run a business in the construction industry and pay contractors for building and
construction services, then you must lodge a Taxable Payments Annual Report (TPAR) with
the ATO.
As the end of the financial year draws near, have you considered all your tax minimisation strategies available to you and your business?
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