There’s property and there’s property trusts

With the residential property market going gang busters many investors are now turning their attention to alternative property investments such as commercial or industrial property. Commercial and industrial property are considered to offer a better  yield, or net...

Small Business Restructure: Is it “Genuine”?

The small business restructure roll-over came into effect on 1 July 2016 to provide greater flexibility for small business owners to change the legal structure of their business by allowing them to defer gains or losses that would otherwise be realised when business...

Personal and Carer’s Leave

The minimum leave entitlements that apply to all employees are found in the National Employment Standards (NES). These apply regardless of their position and whether a contract of employment or an award or enterprise agreement applies.  The NES creates certain rights...

Red Flags That Can Trigger a Tax Audit for Private Business

Regardless much income your business produces there are several common ways of getting on the ATO radar and triggering an audit.  Often a simple GST audit escalates to a larger review to include income tax and other issues. Taking steps to manage the risk ensures that...

New changes to GST remission on new residential premises

To strengthen compliance with the GST law pursuant to a previous announcement in the 2017-18 Budget, the government recently released an exposure draft of legislation requiring purchasers of new residential premises, home sites or new subdivisions to remit the goods...