Beware of royalty payments to non-residents

When you make a certain payment (eg. dividends, interest and royalties) to non-residents you are required to withhold and remit tax to the Australian Taxation Office (“ATO”). A non- resident can be an individual, company, partnership, trust or super fund. In relation...

GST Clauses in Real Estate Contracts

Look Carefully for GST Goods and Services Tax (GST) was introduced on 1 July 2000. How does GST work? Broadly, GST is 10% tax that you must pay on goods and services and other items that you have sold or consumed in Australia. GST registered businesses will usually...

Avoid the Most Common GST Mistakes

Despite its best efforts to educate the general public, the ATO continues to receive business activity statements (BAS) containing many GST related errors. Find out more about the most common GST mistakes and how you can avoid them. The majority of errors relate to...

Last Minute Christmas Budgeting Tips

Christmas is a wonderful time of year; a time for giving and sharing gifts with family and friends.  For many of us, Christmas is also a time where we tend to overspend and spend a lot of money. Find out how you can avoid blowing the holiday budget with these handy,...

Important terms of the franchise contract

In Australia, franchising is one of the fastest-growing business sectors. There are a number of advantages as well as certain drawbacks when buying a franchise. Before entering a franchise agreement the franchisor is obliged to send you a disclosure document, the...