waterford

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So far waterford has created 49 blog entries.

ASIC Targets Growing Companies In Audit Crackdown

ASIC is in the midst of a concerted campaign targeting private companies that have outgrown the reporting exemptions. ASIC requires companies to prepare and lodge a financial report and a directors’ report each financial year, and have the accounts audited unless the company is exempt. Most small companies are exempt from the compliance requirements as [...]

By | September 5th, 2017|General, news|0 Comments

What everyone selling a property valued at $750k or more needs to know…

Every vendor selling a property needs to prove that they are a resident of Australia for tax purposes unless they are happy for the purchaser to withhold a 12.5% withholding tax. From 1 July 2017, every individual selling a property with a sale value of $750,000 or more is affected. To prove you are a [...]

By | September 5th, 2017|General|0 Comments

Super concessions for first home savers and downsizers

Does superannuation offer an avenue to help downsizers and first home savers? The Government seems to think so. Late last month the detail of the housing initiatives announced in the Federal Budget were released for consultation. We explore what’s on offer and the implications. Super concessions for downsizers If you are over 65, have held [...]

By | August 30th, 2017|General|0 Comments

What is new in the 2018 Financial Year?

As we welcome the new financial year, we are left asking what changes to legislation may affect us or our businesses. The changes from the 1 July 2017 include: GST applies to digital products & services imported by consumers, such as Netflix. Small business $20k instant asset write-off extended until 30 June 2018. Company tax [...]

By | July 25th, 2017|General|0 Comments

Investment Property Updates

Investment Properties  - Key potential updates regarding Investment property deductions from budget night (9 May 2017), whether current or prospective owners. Travel Generally investment property owners could claim travel to their residential investment properties for inspections or maintenance reasons. However mentioned in the 2017/2018 budget the government is planning to disallow being able to write [...]

By | June 29th, 2017|General|0 Comments

Immediately write-off depreciable assets which cost less than $20,000 extension

Previously the immediate write off was limited to assets which cost less than $1,000. However for the 2016 Financial Year it was increased to $20,000 for businesses with a turnover of less than $2 million. This was set to go back to $1,000 on 1st July 2017, however in the Budget handed down on the [...]

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

2017 Federal Budget Update

We are pleased to share the link with you for the 2017 Federal Budget announcement. To read more please click on this link.

By | May 10th, 2017|General|0 Comments

State Law changes and a warning issued for Family Trusts

Family Trusts may be subject to surprise tax bills due to recent changes to State laws. There have been recent changes to legislation in New South Wales (NSW), Victoria (VIC) and Queensland (QLD) that impose a surcharge on foreigners buying residential land. This can become an issue if a trust deed has been drafted allowing [...]

By | May 4th, 2017|General|0 Comments

2017 Fringe Benefit Tax (FBT)

2017 Fringe Benefit Tax (FBT) – What employers need to know? The 31st of March 2017 marks the end of another FBT year and in which employers are left wondering what they are required to do to meet ATO obligations or if these obligations apply to their business. As the ATO will be looking at [...]

By | March 29th, 2017|General|0 Comments

Riding the waves of uncertainty in 2017

The election of Donald Trump as President of the United States has certainly been one of the big surprises of 2016. This has already had an impact on our region with the United States pulling out of the Trans-Pacific Partnership (TPP) which would have seen most tariffs and other restrictive policies on agricultural products and [...]

By | March 8th, 2017|General|0 Comments