by Quinns_News | Mar 5, 2013 | Accounting News
Tax offsets (often referred to as rebates) directly reduce the amount of tax you must pay. They differ from tax deductions, in that deductions reduce your total assessable income dollar-for- dollar and your tax payable at most by your marginal rate. Each dollar of tax...
by Quinns_News | Mar 5, 2013 | Accounting News
Organising you Records Keeping accurate records is vital for every business. Not only does it give you a good indication of the financial performance of your business, but it is also a legal requirement to do so. Records need to be kept for five years after they are...
by Quinns_News | Mar 5, 2013 | Accounting News
The ATO may issue the director of a company with a Director Penalty Notice (DPN) if the company has a tax debt to the ATO. The company then has a non-negotiable time frame of 21 days from when the notice was posted to pay the penalty. Failure to do so will result in...
by Quinns_News | Feb 27, 2013 | Accounting News
Purchasing an investment property has long been popular: being both a rewarding financial move and a beneficial experience. Notably, for all investors – from the seasoned property investor, first timers to the sporadic investor – purchasing an investment...
by Quinns_News | Feb 27, 2013 | Accounting News
A statutory demand is a written demand made against a debtor company to pay its debt to the issuing creditor. Section 459E of the Corporations Act 2001 provides that a creditor may serve a company with a statutory demand for a debt (or debts) due and payable (the...
by Quinns_News | Feb 20, 2013 | Accounting News
In today’s tough economic climate, a troubled business may call upon an independent expert for financial help in an attempt to remain operational. This process is known as Voluntary Administration. What happens when a business is in voluntary administration? During...
