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CASH FLOW

Posted by Brad Callaughan on June 30, 2018

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For new businesses possible the hardest lesson surrounds cash flow. It an be a real juggling act in the beginning of a new business to manage incomings and outgoings. It is also common for larger businesses to experience cash flow issue when it comes to expansion. The best way to approach these situations is to...

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Cryptos – The taxing side

Posted by Brad Callaughan on June 29, 2018

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Cryptocurrencies are becoming increasingly popular and with more of us investing in them, it is now important for us to understand how they are taxed and the ATO’s view on these. Cryptos are regarded as a capital gains tax (CGT) asset so CGT applies on the disposal. However, transactions are exempt from capital gains tax...

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GST for developers/builders and the like

Posted by Brad Callaughan on June 28, 2018

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The way GST is collected on sales of newly constructed residential properties or newsubdivisions will change from 1 July. As part of the sales process purchasers will be required to remit the GST directly to the ATO as part of the settlement process. The seller will be responsible to inform their solicitor of their obligations...

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Single Touch Payroll

Posted by Brad Callaughan on June 26, 2018

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ARE YOU READY !! From the 01 July 2018 all businesses that employ over 20 staff will need to report through STP. This will be achieved through your current software provider. You need to check with them to make sure they are ready and have STP available to you. If not they will need to...

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ATO scrutinising car claims this tax time

Posted by Brad Callaughan on June 19, 2018

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ATO scrutinising car claims this tax time The ATO has announced that it will be closely examining claims for work-related car expenses this tax time as part of a broader focus on work related expenses. Assistant Commissioner Kath Anderson said: “We are particularly concerned about taxpayers claiming for things they are not entitled to, like...

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