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...
by AccountingProfessionals | Sep 18, 2018 | Accounting Professionals
The Fair Work Commission (FWC) has ordered Toyota Motor Corporation Australia (TMCA) to pay a foreperson with overarching supervisory responsibility for some 69 team members the maximum compensation under the Fair Work Act’s unfair dismissal provisions after it...
by AccountingProfessionals | Aug 9, 2018 | Accounting Professionals
In simple terms, the Research and Development (R&D) tax incentive provides a tax offset to eligible companies that conduct certain R&D activities that are likely to benefit Australia’s wider economy. As a response to various reviews which indicated that the...
by AccountingProfessionals | Aug 9, 2018 | Accounting Professionals
If you are the trustee of one of the approximately 577,000 SMSFs in Australia at the moment, there are some areas the ATO wants you to pay particular attention to including the sole-purpose test, the in-house asset rules, unlawful schemes and arrangements, and...
by AccountingProfessionals | Aug 9, 2018 | Accounting Professionals
The Government is planning to introduce an economy-wide cash payment limit of $10,000 as a part of its crackdown on the black economy. Any transaction that exceeds $10,000 will need to be made using an electronic system or by cheque. The cash transaction limit will...
