Fortuna at the Australian Accounting Awards 2018
A remarkable effort indeed!
We are proud to have emerged as finalists in 3 categories of the prestigious Australian Accounting Awards 2018 :
Do you Import low value goods? If so, this one’s for you!
- Are you a small business importing goods worth over A$1,000 from overseas?
- Are you registered for Australian goods and services tax (GST)?
- Then you must know that, from 1 July 2018, (GST) will apply to sales of such low value goods.
If you are planning a foreign venture to import low-value goods, and would like to get a head start, contact one of our Foreign Business Professionals for tailored advice suited to your specific needs.
For more information on what this means for your business, click the link Here.
For even more information visit the Australian Treasury site for a comprehensive Q & A.
ATO Cracks down on FBT Lodgements
When it comes to fringe benefits tax (FBT), a simple mistake or omission can attract the ATO’s attention. Small businesses are encouraged to be mindful of focus areas that provide clarity in their reporting obligations and entitlements to avoid penalties from the statutory agency. Fortuna Advisory Group specialises in Tax and Compliance services that can save you the worry when lodging FBT during tax time.
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).
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. AUS
TRAC requires that dealings above $10,000 be reported as per pre-existing rules for cash transactions and bank transfers.
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