by Quinns Blog | Nov 25, 2020 | Accounting News, Newsletter Features
CGT Events: Disposal of a Trust Asset Disposal of a trust asset (or another CGT event) is likely to result in a capital gain or loss for the trust (unless a beneficiary is absolutely entitled to the asset). Capital gains and losses are taken into account in working...
by Quinns Blog | Nov 18, 2020 | Accounting News, Newsletter Features
In today’s article, we examine capital gains tax assets. What Assets are Subject to CGT? All assets you have acquired since Capital Gains Tax (CGT) started (on 20 September 1985) are subject to CGT unless specifically excluded. For example, CGT applies to: real estate...
by Quinns Blog | Nov 11, 2020 | Accounting News, Newsletter Features
Phone scams are on the rise, the ATO warns. Below we have looked into how to identify phone scams. What scammers may do: Scammers may threaten you with immediate arrest. They do this to create a sense of urgency and instill a fear response. Scammers may send...
by Quinns Blog | Nov 4, 2020 | Accounting News, Newsletter Features
The Australian Taxation Office (ATO) has released a Practical Compliance Guideline in respect of which income year an employer can claim a tax deduction for superannuation guarantee (SG) contributions paid through the Small Business Superannuation Clearing House...
by Quinns Blog | Oct 21, 2020 | Accounting News, Newsletter Features
When there is a transfer of business, often an employee will ask the question: what are my rights? The good news is that your rights and obligations under Fair Work should not change: the National Employment Standards still apply. A new employer legally must recognise...
by Quinns Blog | Oct 14, 2020 | Accounting News, Blog, Newsletter Features
An individual will be a resident for Australian tax purposes if they satisfy one or more of the following tests as provided by the Income Tax Assessment Act 1936 (Cth.): The ordinary concepts test Domicile test 183 days test Superannuation test The first of these...
