by Quinns Blog | Jul 14, 2020 | Accounting News, Blog
Recent reform and the inception of illegal phoenixing legislation has targeted illegal phoenixing practices. Receiving royal assent on 17 February 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Act 2020 is now in force and provides such regulatory...
by Quinns Blog | Jul 14, 2020 | Accounting News, Blog
Capital Gains Tax (CGT) is a tax on the profit realized on the sale of a non-inventory asset such as property, real estate or stocks. In relation to wills, it is important to note that this tax can come into play when beneficiaries seek to vary gifts granted to them...
by Quinns Blog | Jul 8, 2020 | Accounting News, Blog
Promoters are always looking for new ways to exploit the law or changes in the law. They promote schemes to people and promise tax benefits that aren’t legally available. Tax avoidance schemes range from mass-marketed arrangements advertised to the public, to...
by Quinns Blog | Jul 8, 2020 | Uncategorized
The ATO has provided us with the following update on GST audits relevant to the Public Groups & International (PGI) market: The PGI teams are starting their GST Top 1000 audit program in August and the ATO has decided to start its programs progressively over time....
by Quinns Blog | Jun 29, 2020 | Blog, Employment and Human Resources News
A worker has again failed to prove she was an employee rather than a contractor, with an appeal bench ruling three critical factors pointed “decisively away” from an employment relationship. In August 2019, Fair Work Commissioner Peter Hampton rejected an Uber Eats...
by Quinns Blog | Jun 29, 2020 | Accounting News, Small Business News
The package of legislation to modernise the business registers passed Parliament last week and awaits Royal Assent. As a result of the passage of this legislation, there will be a new Commonwealth business registry regime and registry functions under one Registrar –...
by Quinns Blog | Jun 24, 2020 | Uncategorized
Do you want to appoint a trustee as a beneficiary of a discretionary trust? There are facts you should be aware of. Under the legislation, the trustee of a trust may be a person or a company (a corporate trustee). In either case, the trustee must be legally capable of...
by Quinns Blog | Jun 24, 2020 | Uncategorized
Only use this method if you are a sole trader or partnership (where at least one partner is an individual) claiming for a car. On this page: This method Rates How you use this method This method The cents per kilometre method: uses a set rate for each kilometre...
by Quinns Blog | Jun 17, 2020 | Uncategorized
The Australian Taxation Office (ATO) recognises that the community has experienced significant challenges this year. The ATO’s support and guidance should make tax time easier, particularly where new circumstances mean that people are receiving a different type of...
by Quinns Blog | Jun 17, 2020 | Uncategorized
Last week the Design and Building Practitioners Act 2019 (the Act) and the Residential Apartment Buildings (Compliance and Enforcement Powers) Act 2020 (the RAB Act) passed NSW Parliament. The following information provides a brief overview of the new laws. We will...
