Accounting & Wealth Insights

Okay, so you’ve registered a company name and you’ve got your own ABN. Does this necessarily mean you’re now automatically a contractor?

Choosing a financial planner is probably one of the most important financial decisions you will ever make…

…and if you make the wrong choice it can certainly be a costly mistake!

The changes to superannuation announced in the 2016 Federal Budget have been passed by Parliament. Amongst the changes was legislation which provides CGT relief for members who are transferring assets out of retirement phase in 2016/17 to comply with the changes.

The following changes affecting small businesses have been recently passed by the federal government in principle and is currently waiting royal assent

Documentation requirements Timing Businesses are now required to have the transfer-pricing documentation prepared before the time the entity lodges its income tax return for the income year relevant to the matter (or matters). Information In addition, businesses must ensure the transfer-pricing documentation contains an arguable position of why the self-assessment position for transfer pricing outcomes…

Recently, the ATO have released a document which provides clarity on upfront incentive payments made by healthcare centre operators to entice practitioners to operate in their centre.

A motor vehicle designed to carry a load of more than one tonne may still be a reportable fringe benefit for an employee. The ATO has confirmed in a recent Private Binding Ruling any consistent use of these vehicles is a residual fringe benefit.