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Single Touch Payroll – How will that affect my Business?

Starting from the 1st of July 2018 employers with 20 or more employees will have new reporting obligations regarding payroll processes through Single Touch Payroll (STP). Employers will have to report to the ATO each time they pay their employees, without the need to change pay cycles. The information required will include employees’ wages and salaries, […]

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Cryptocurrency – Now Under the AUSTRAC Scanner

As of the 3rd of April 2018, AUSTRAC (the government body in Australia which keeps a tab on money laundering and terror related activities) has placed new rules governing cryptocurrency transactions to provide greater transparency for regulators. Now transactions involving cryptocurrency will need to be signed up and logged onto a new Digital Currency Exchange Register. […]

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ATO: Australian residents & non-residents to disclose all foreign income or face stiff penalties.

All Australian residents who receive overseas income, or non-residents receiving Australian income, ought to ensure that they report such income to the local tax authorities to avoid stiff penalties. The Common Reporting Standard (CRS) legislation that sets the bar for foreign tax residents regarding the exchange, collection and reporting of financial account information came into effect on 1 July 2017. The […]

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Issues affecting Australian businesses in 2018

Several key changes will affect Australian workplaces this year, including the commencement of the mandatory data breach notification regime and the replacement of the 457 visa program. Other employee and industrial relations issues that are likely to impact Australian businesses throughout 2018 include increased penalties for the underpayment of workers and poor record-keeping, as well […]

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Top Tax Changes in 2018

SMALL BUSINESSES  AND COMPANIES From 1 July 2017, the concessional corporate tax rate of 27.5% will only be available for ‘‘base rate  entities’’, being entities with no more  than 80% of its income being ‘‘base rate  entity passive income’’ The ATO will be allowed to disclose to Credit Reporting Bureaus the tax debt information of […]

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ATO warning on potential frauds and scams

The ATO has issued a public alert warning of a potential email scam affecting clients, following an increase in fraud activity in recent months.  The ATO is warning of an email scam, which features the tax office’s letterhead and an email address similar to those used in official ATO correspondence. In an example email provided by […]

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Save Interest on Residential Investment Property Lending

If your investment home loan interest rate begins with a “5”, you need to read this article as it could be starting with a “3” or a low “4” It’s a tough market for most residential property investors at present, but there are still some opportunities to save significant interest in this area. The crack […]

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Seven tips to travel on a budget

Careful planning can help you enjoy a great holiday, whatever your budget. Does it feel like ages since your last holiday? Maybe with responsibilities like paying off your credit card, saving for your first home, or paying back your university fees, your next holiday still seems a long way off… Well, don’t despair. There are […]

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Dilemma Whether to Hold on to Your Investment Property or Let go?

Just last week, one of our very valued clients came over to discuss if to hold on to his investment property or sell it. The couple, like many others, had made an informed decision to invest in property market as a stable retirement plan. Back then, it was lucrative as the property market was booming. […]

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Business Owners – Ensuring you Get Paid

There are a large number of legal reasons why people in small business do not get paid. Not all of them apply to all businesses, however some of them will apply to just about every business. Not getting the scope of the contract properly and clearly agreed Lack of clear, written definition of exactly what […]

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