Have You Taken Advantage of The Business Tax Break?
By now, most business owners would have at least heard about the small business tax break, however many of those owners may not have taken advantage of this incentive. The deadline is drawing near but it's not too late to capitalise. Here is what you need... Read >
Winding up Your Business for Better or Worse- The role of liquidators
Winding up a business requires the liquidation of all that business' assets. The reason for winding up a business could either be that the company is insolvent (can't pay all of its debts) or its members want to end the company's existence.
How do you ... Read >
Starting a business – basic things to consider
There are many things to think of when looking to start a business. From choosing a business structure and legal issues to tax obligations and financial management, there is a vast range of things to consider so as to ensure the smooth running of your bus... Read >
Company liquidation – a solution for struggling businesses
When a company is no longer able to pay its debts using the company resources that are available it is determined to be insolvent. In the current economic environment, as a result of business forces, many business owners are finding that they are unable t... Read >
Who will run your business when you are no longer able to?
As the old adage states, "Fail to plan and you will plan to fail". Whilst this may seem a little worn out it is still very relevant and true, particularly when it comes to business. For most business owners their business is a result of many years of hard... Read >
Why are small businesses staying small?
In a recent analysis of Australian Bureau of Statistics data it has been revealed that there has been surprisingly strong growth in the number of small businesses in Australia. Interestingly, the data also highlights that along with an extremely high fail... Read >
Will your bookkeeper be compliant under the new Tax Agent Services Act 2009?
Legislation for the Tax Agent Services Act 2009 has been drafted and is intended to be enacted early in 2010. The new regulations will see that bookkeepers who are currently preparing and lodging Business Activity Statements (BAS) for a fee are now requir... Read >
Reduce your tax bill AND increase your wealth using imputation credits
Unlike income from cash or bonds, which is fully taxable at your marginal tax rate, Australian shares receive attractive tax concessions through the dividend imputation system.
Australia's dividend imputation system can reduce and in some cases elimin... Read >
Is your Superannuation working for you?
If you have accumulated a significant superannuation balance, wish to maximise your returns and have greater control over your investments; a self managed super fund (SMSF) may be the answer.
A SMSF is a vehicle that is used to manage the superannuatio... Read >
Beware of illegal schemes offering early access to super
There is currently a range of illegal schemes and plans that exist that are offering unsuspecting taxpayers access to their superannuation savings before retirement. The promoters of these plans will tell you that they are able to access your super saving... Read >
Changes to personal bankruptcy laws reflect change in economic climate
Attorney-General, Robert McClelland has recently released details of proposed changes to existing personal bankruptcy legislation.
The changes are now available for public consultation and are intended to modernise the current legislation to better ref... Read >
New Trade Practices legislation to affect standard form contracts
The Commonwealth Government moved to introduce a new national consumer protection law in June this year (2009) when it passed Trade Practices Amendment (Australian Consumer Law) Bill 2009. This new law is modelled on a successful trial that has been opera... Read >
Home Buyers Schemes
The government has put in place a range of schemes to help out new home and first home buyers. The trick is finding the one that applies to you. Figuring out which one and then applying for it can be a bit confusing. The most relevant schemes to new and f... Read >
Restructuring could get your troubled business back on track
If you are noticing issues with profitability, having problems with meeting your tax bills, or have any outstanding debts to the ATO then you are probably thinking that you will have to resort to insolvency via administration, liquidation, or receivership... Read >
Business Activity Statements
Business Activity Statements (BAS) are used by business's to report and pay a number of tax obligations, including GST, Pay As You Go (PAYG) instalments, PAYG withholding and Fringe Benefits Tax. This is the ATO's way of combining a range of taxes into on... Read >
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