waterford

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So far waterford has created 49 blog entries.

One-off Super Guarantee Amnesty

Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to “self-correct” under a new amnesty announced late last month. The ATO estimates that $2.85 billion is currently owed in late or missing SG payments. Running from 24 May 2018 for 12 months, the amnesty encourages employers to reduce this [...]

By | June 20th, 2018|General|0 Comments

Invitation | Outsmart The Tax Man/ Budget 2018

#OutsmartTheTaxMan #Budget2018 #Newcastle #HamiltonAccountants #HamiltonFinancialServices #Seminar #Wednesday13June #Noah’sOnTheBeach

By | May 23rd, 2018|General|0 Comments

Budget 2018-19: The ‘Breadwinners Budget’

Reward for work is a dominant theme in this year’s Budget. The seven year personal income tax plan initially targets low to middle income earners before making significant changes to the tax brackets. Innovation continues to be the Government’s mantra with the medical industry a clear winner. The Government has dedicated a total of $1.3 [...]

By | May 16th, 2018|General|0 Comments

GST on property developments

The big changes for developers and purchasers If a Bill currently before Parliament passes, from 1 July 2018, purchasers of new residential premises or new residential subdivisions will need to remit the GST on the purchase price directly to the ATO as part of the settlement process.  This is a significant change from how GST [...]

By | March 13th, 2018|General|0 Comments

The ATO’s FBT Hot Spots

The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees. Motor Vehicles – using the company car outside of work Just because your business buys a motor vehicle and it is used as a work vehicle, that alone does not mean that the car is [...]

By | March 7th, 2018|General|0 Comments

New data breach laws come into effect

New data breach rules in effect from 22 February 2018 place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm. In October last year, almost 50,000 employee records from Australian Government agencies, banks and a utility were exposed [...]

By | March 7th, 2018|General|0 Comments

Profits of professional services firms guildlines suspended

In 2015 the ATO published some guidelines ‘Assessing the risk: allocation of profits within professional firms’ which aimed at ensuring that profits derived from professional services firms were taxed in an appropriate manner. In broad terms, the ATO set out some safe harbour approaches that could be used to ensure that practitioners were classified as [...]

By | February 15th, 2018|General|0 Comments

Santa’s Tax Crises

A light-hearted look at the complexity of Australian taxation laws. Dear Santa, Thank you for the opportunity to provide tax advice for your operation. We are pleased you have initiated this advice as the Australian Taxation Office (ATO) is looking closely at any business or individual that operates within Australia but has significant transactions or [...]

By | December 12th, 2017|General|0 Comments

New legislation restricts access to the reduced company tax rate

Legislation restricting access to the small business company tax rate reduction entered Parliament last month. The changes specifically preclude companies with passive investments such as rental property income from qualifying for the small business entity tax rate of 27.5%. For the 2017 income year a company could access the reduced company tax rate if it [...]

By | November 21st, 2017|General|0 Comments

Tax benefits for investing in affordable housing

In the 2017-18 Federal Budget the Government announced a series of measures intended to improve housing affordability in Australia.  To entice investors, the Government is providing an increase in the CGT discount for individuals who choose to invest in affordable housing. The draft legislation enabling this change has now been released so we can see [...]

By | November 7th, 2017|General|0 Comments