Companies will be permitted to carry-back up to $1 million of losses annually against taxable income arising two years prior. It is an attempt to stimulate investment and risk taking in new businesses and will enable companies to receive a refund against tax previously paid. The measures will provide some... read more →
Jun
11
Jun
04
Each year the ATO identifies several industries where employers have a higher risk of not complying with their super obligations. In 2012, the ATO will focus on the following high-risk industries: Cafes and restaurants Real estate services Carpentry services Typical mistakes that have been identified by the ATO include: Paying... read more →
May
09
Greetings! We have pleasure in enclosing a summary of the significant announcements from the Federal Government's 2012 Budget. There are some great opportunities in tax planning in the lead up to 30 June 2012 as a result of the measures announced recently and in the federal budget.... read more →
Apr
30
As announced on Saturday, the Federal Government has proposed to re-introduce a super surcharge, which was abolished back in 2005. Unlike the previous surcharge, this will affect high income earners who earn more than $300,000. This will increase the take on their contributions from 15% to 30%. We understand that... read more →
Apr
03
With the end of the Fringe Benefit Tax year upon us this month, it is critical that as an employer you understand your FBT obligations to avoid significant penalties from the Australian Taxation Office. Fringe Benefit Tax (FBT) is a tax paid by employers, separate from income tax, and based on... read more →