by Quinns_News | Feb 15, 2012 | Tax Advice and Updates
A director of a company that has a tax debt to the ATO (often in relation to PAYG withholding amounts) may be served with a Director Penalty Notice also known as a “DPN”. The aim of a Director Penalty Notice or DPN is to make directors liable for their company’s...
by Quinns_News | Oct 19, 2011 | Tax Advice and Updates
The new financial year brings with it significant changes to the tax system. With new exemptions and tax deductions being introduced such as the recent changes regarding the Family Tax Benefit and the Education Tax Refund and also the Flood Levy which will need to be...
by Quinns_News | Oct 5, 2011 | Tax Advice and Updates
The Research and development (R&D) tax incentive provides a tax offset for eligible R&D activities and is targeted towards innovation that benefits Australia. The incentive came into effect on 1 July 2011 and replaced the R&D tax concession. There are...
by Quinns_News | Sep 7, 2011 | Tax Advice and Updates
Net medical expenses are the medical expenses you have paid, minus any refunds of these expenses which you or any other person has received, or are entitled to receive, from Medicare and/or a private health insurer. Many taxpayers are unaware that you can claim a tax...
by Quinns_News | Jul 27, 2011 | Tax Advice and Updates
The Business Activity Statement (BAS) is a pre-printed document issued by the ATO on either a monthly or quarterly basis. Businesses use a BAS to report and pay a number of tax obligations, including GST, PAYG instalments and withholding, fringe benefits tax and ABN...
by Quinns_News | Mar 22, 2010 | Tax Advice and Updates
With the end of the financial year approaching at an amazingly fast rate, now is a prime time to start preparing your tax plan. Tax planning involves examining your business’ recent and updated financial records, BAS and your expected income for the coming quarter....
