by AccountingProfessionals | Oct 31, 2018 | Accounting Professionals
Before you rush off to gather all the documents for your tax return, beware of some changes in this year’s return, particularly in the areas of rental properties and superannuation. In addition to the changes in the tax return, the ATO has also outlined the top 5 most...
by AccountingProfessionals | Oct 8, 2018 | Accounting Professionals
By Nick Fitzgerald, Business Advisory Director, Accounting Professionals “I’m so busy right now,” is hands down the most common response I hear when I ask business owners, “how are you?” or “how’s business?” And, sadly, the answer to my follow up question “how is cash...
by AccountingProfessionals | Oct 8, 2018 | Accounting Professionals
The sole purpose test is one the fundamental requirements for a Self Managed Super Fund (SMSF) to obtain tax concessions. It requires that the SMSF be maintained for the sole purpose of providing retirement benefits to its members or their dependents if a member dies...
by AccountingProfessionals | Oct 8, 2018 | Accounting Professionals
By Nick Fitzgerald, Business Advisory Director, Accounting Professionals Benjamin Franklin, one of the founding fathers of the United States, once infamously said, “Nothing can be said to be certain, except death and taxes.” While the first is inevitable, I believe...
by AccountingProfessionals | Sep 18, 2018 | Accounting Professionals
The ABN system was originally introduced as a simple way to provide businesses with unique identifier when dealing with the government. It has since become a de facto licence to do business despite no substantial changes in the application process in the intervening...
by AccountingProfessionals | Sep 18, 2018 | Accounting Professionals
The terms “independent”, “impartial”, or “unbiased” or similar terms can only be used to describe financial advisory businesses that meet certain conditions under the Corporations Act. Such conditions include not receiving commissions or volume-based payments. The...
