Directors personally liable for employee’s super
Directors are now personally liable for unpaid superannuation guarantee (SG) payments to staff. While initially designed to prevent phoenix company activity, the new laws that apply from 1 July 2012, extend well beyond phoenix company activity. How does it work? The new law extends the director penalty and estimates regime beyond PAYG withholding to the […]
Building & Construction
Businesses primarily in the building and construction industry are required to report the total payments they make to each contractor for building and construction services. You should be keeping records of relevant contractor payments, including: ABN Name Address Total gross amount they were paid in the financial year (total paid, including GST) Total GST included […]
Accounting and Taxation
Sep2012 BAS Don’t forget the end of the quarter is coming very soon. To make the most of your quarter, bring forward any payments to before 30 September and defer and income payments until the 1st of October. If you need any large machinary or tools, now is the time to buy them. If you […]
September Tax Planning
Once again another tax year is upon us. It might seem to you that you are busy getting the information ready to do last years tax and your main focus has slipped from upkeeping the new year ahead. I must say I like all my clients to keep upto the month financial information at a […]
New Asset Purchase
With the financial year in full swing, we often get asked about buying new equipment or assets for your business. Our answer is always shaped around your business and your cash flow. We don’t agree with just buying a new asset to get the Governements new immediate write-off. However, having said that, if you require […]