Does your SMSF need a valuation? - Tax Accountants South Brisbane
The rules around the valuation of assets held under an SMSF have seen a lot of changes over the years. The requirement to consider valuing SMSF assets at market value when preparing the annual financial statements of the fund was one of the most significant and controversial of these changes.
To avoid disputes, with the birth of every SMSF it pays to think about death - Tax Accountants Ringwood
When commencing any self managed superannuation fund (SMSF), there is one over-riding expectation that newby trustees should come back to again and again — that their fund must meet the sole-purpose test. This is not only to maintain access to the various tax concessions available, but to avoid possible civil or even criminal penalties.
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Staff training costs deductible, but beware FBT - Tax Accountants Richmond
One of the recognised keys to business success is having knowledgeable, efficient and well-trained staff. But it is not always possible (or is indeed rare) to have potential staff walk in off the street who are a 100% perfect fit. People employed at any business will naturally benefit, to a lesser or greater degree, from relevant training.
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Deductions for donations - Tax Accountants Parramatta
As most of us know, donations of $2 or more are deductible, and there is flexibility in the rules around donating to emergency relief bodies in that no receipt is required if giving less than $10 (so called “bucket” donations).
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The tax deductions available for interest, dividends and other investment income - Tax Accountants Osborne Park
The tax rules allow investing taxpayers to claim some deductions related to some of the expenses and costs that are generated when earning interest, receiving dividends or gaining other investment income.
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Single touch payroll rollout for smaller employers - Tax Accountants Orange
A major change in the way employers report the tax and super information for their employees to the ATO has been on the way for a while now. The single touch payroll (STP) system started to be rolled out gradually from 1 July 2018 for what the ATO refers to as “substantial” employers (those with 20 or more staff). Recently passed legislation extends STP to all employers, regardless of the number of staff, from 1 July this year.
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