by Quinns_News | Feb 24, 2016 | Accounting News
The Australian Tax Office (ATO) has begun to monitor tax deduction claims made for holiday rental properties much more closely, with the purpose of preventing excessive rental deduction claims. They have advised that they have sent letters to taxpayers in about 500...
by Quinns_News | Feb 10, 2016 | Accounting News
There are numerous advantages to having an independent chairman. The main advantage is the ability to bring a different perspective into the business. A business owner may become too close to what is going on in his or her company. Furthermore, people who run a family...
by Quinns_News | Feb 3, 2016 | Accounting News
Under sections 301 of the Corporations Act 2001 all disclosing entities, public companies, large proprietary companies and managed investment schemes are required to have their financial reports audited and lodged with the Australian Securities & Investments...
by Quinns_News | Jan 20, 2016 | Accounting News
There is no definitive answer to this question, however these days it would not be out of the ordinary to say a couple of hundred thousand dollars, if the space is in a prime location in Sydney. Some of the highest prices paid for a car space include: Elizabeth Bay...
by Quinns_News | Jan 13, 2016 | Accounting News
Both the Australian Securities & Investments Commission (“ASIC”) and the Australian Taxation Office (“ATO”) regularly investigate “Phoenix Transactions”. What is phoenix activity? Illegal phoenix activity refers to activities that involve the intentional transfer...
by Quinns_News | Jan 13, 2016 | Accounting News
New laws have passed regarding depreciation that allow small businesses to claim an immediate deduction for assets they start to use – or have installed ready for use – provided each depreciable asset costs less than $20,000. This will temporarily replace the previous...
