by Quinns_News | Apr 19, 2017 | Blog
The ATO has released data which shows that one of the most common breaches by a SMSF is financial assistance to a member or a related party. The legislation is clear, no one associated with your superannuation should get any financial assistance from the fund. SMSF...
by Quinns_News | Apr 19, 2017 | Blog
Long-term casual employment rights Many employers as well employees are unaware of the rights of long-term casual employees. According to the Fair Work Act, a long-term casual employee is an individual that: is a casual employee; and has been employed by an employer...
by Quinns_News | Apr 19, 2017 | Blog
Claiming eligible deductions To ensure individual taxpayers are claiming deductions eligible under the tax law, the Australian Tax Office (ATO) places certain emphasis on particular areas each year. Work related travel expense for transporting bulky tools or equipment...
by Quinns_News | Apr 19, 2017 | Blog
Employers can collect money for a Deductible Gift Recipient (DGR) by setting up a workplace giving or salary sacrifice arrangement for their employees. It is important that the employer understands the difference between the two types of arrangements. Workplace...
by Quinns_News | Apr 12, 2017 | Blog
Living life without setting goals is like sailing a ship without having planned a course. We all know the importance of setting goals but why do so few families set short, medium or long term goals. When we prepare financial plans for our clients it is critical that...
by Quinns_News | Apr 12, 2017 | Blog
It is essential that discretionary trust deeds are easy to understand so that a trustee’s rights and obligations are clear. An important reminder of this was provided by a recent decision in the Western Australia Court of Appeal in Mercanti v Mercanti 2016 WASCA 206...
by Quinns_News | Apr 12, 2017 | Blog
Generally, meals and drinks purchased during work are considered as private expense that is a non-deductible expense to the employee. There is an exception where the employer pays an overtime meal allowance under an industrial award to the employee who is required to...
by Quinns_News | Apr 12, 2017 | Blog
Superannuation guarantee contribution is one of the major obligations of a business owner. Generally, superannuation guarantee (SG) payments must be made into complying super funds or retirement savings accounts by the quarterly due dates, which are 28 days after the...
by Quinns_News | Apr 5, 2017 | Blog
The ATO has an underlying expectation that taxpayers will pay their tax debts as and when they fall due. The ATO does not consider itself to be a credit provider and expects that tax debts be given the same priority as all other debts. Tax Debts The ATO will take...
by Quinns_News | Apr 5, 2017 | Blog
It is not uncommon for Australian citizens to leave Australia to advance their career goals by exploring job prospects in the overseas market. Unless certain criteria are satisfied you remain an Australian tax resident. Tax Obligations while working abroad The issue...
