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...

New ATO Powers to Report Tax Debts

In the 2017 mid-year budget the Government announced that it will allow the Australian Taxation Office (ATO) to disclose tax debt information to registered credit reporting bureaus (CRBs).  These new powers are intended to encourage taxpayers to manage their unpaid...