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North Advisory Accountancy Blog

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ATO focus on work-related car expenses

Posted August 25, 2017 by North Advisory

The ATO is warning taxpayers that they are paying close attention to claims for work-related car expenses this tax time. Assistant Commissioner, Kath Anderson, said…

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Events-based reporting for SMSFs

Posted August 23, 2017 by North Advisory

From 1 July 2017, all superannuation funds, including SMSFs, will be required to report Transfer Balance Cap (TBC) credits & debits to the Australian Taxation…

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Transfer Pricing & Safe Harbour Provisions

Posted August 22, 2017 by North Advisory

In this blog post we provide an overview of the following: 1. Transfer Pricing Rules 2. Simplified Transfer Pricing Documentation Requirements 3. 2016 International Dealings…

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NSW Office of State Revenue (OSR) renamed Revenue NSW

Posted August 21, 2017 by North Advisory

From 31 July, the NSW Office of State Revenue (OSR) and the State Debt Recovery Office (SDRO) are called Revenue NSW. All functions, administrative and…

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Labor proposes change to taxing discretionary trusts

Posted August 7, 2017 by North Advisory

The Leader of the Opposition, Mr Bill Shorten, has announced that a Labor Government would introduce a standard minimum 30% tax rate for discretionary trust…

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Summary of SMSF establishment issues and steps

Posted August 7, 2017 by North Advisory

Step 1: Decide whether to use the constitutional corporation route (ie have a corporate trustee) or old age pensions route (ie have individual trustees). Note…

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ATO warns against incorrect claims for work-related expenses

Posted June 27, 2017 by North Advisory

The ATO is warning taxpayers to avoid incorrect claims for work-related expenses. Assistant Commissioner Kath Anderson noted that the ATO is using real-time data comparing…

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2016/17 tax year – tax changes for small business

Posted June 7, 2017 by North Advisory

As 30 June 2017 is fast approaching, we would like to advise of some key tax changes that your business may be in a position…

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2016/17 year end – tax changes for individuals

Posted June 7, 2017 by North Advisory

As 30 June 2017 is fast approaching, we have briefly summarised the important tax changes to remember when collating your tax information. Travel deduction for…

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Cleaners Tax Deduction Guide

Posted June 7, 2017 by North Advisory

With 30 June fast approaching, we revisit our series on tax deductions for employees in specific industries. We explore the common tax deductions for employees…

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