Accounting & Wealth Insights

Globalisation has had a profound impact on the modern business operating environment, whereby significant technological transformations especially over the last decade have given arise to increased international mobilisation of both staff and senior level management.

From 1 July 2018, all employers with more than 20 staff will be required to implement a payroll system that reports directly to the ATO with every pay cycle.

With the new super rules beginning on 1 July 2017, your requirement to report information about your SMSF and the pensions it pays you and other fund members may be changing. This is driven by the introduction of the new $1.6 million transfer balance cap which limits the amount of assets you can use to pay pensions from super with.

Employee truck (and other transport) drivers who have been required to sleep away from home overnight due to work have new rules relating to travel expense claims. These new rules take effect from 1 July 2017, meaning the drivers affected need to make adjustments as soon as possible.

Are you considering driving your car for Uber to earn extra money on the side? If so, this worked example below will help to illustrate how Uber driving will impact on your tax obligations.

Tax incentives for early stage investors were announced by the government in its National Innovation and Science Agenda on 7 December 2015. The incentives are designed to promote entrepreneurship and innovation, by connecting start-up companies with investors to assist entrepreneurs in developing innovative companies.