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North Advisory Accountancy Blog

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GST cross-border transactions between businesses

Posted November 18, 2016 by North Advisory

Recent changes to Australia’s GST law mean that from 1 October 2016, certain transactions between overseas businesses and Australian businesses will no longer be subject…

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Removal of the HECS-HELP discount and voluntary repayment bonus

Posted November 17, 2016 by North Advisory

From 1 January 2017, the Australian Government will remove the upfront HECS-HELP discount of 10% for eligible students that pay their student contributions upfront and…

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Are you ready for the Government’s superannuation changes?

Posted November 10, 2016 by North Advisory

On Wednesday 9 November 2016 the Government introduced its superannuation legislation which makes changes to the superannuation laws it originally announced in the 2016 Federal…

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$1.6m super transfer balance cap – clarification

Posted November 3, 2016 by North Advisory

Clarification has been provided on the intended operation of the proposed $1.6m super transfer balance cap. The cap will inlcude: • the value of pension…

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ATO data matching program — credit and debit cards

Posted October 31, 2016 by North Advisory

The ATO has given notice that it will continue to annually acquire data from credit and debit card providers relating to payments to businesses. The…

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ATO data matching programs — share transactions and selling on eBay

Posted October 31, 2016 by North Advisory

The ATO has given notice of two data matching programs, one relating to online selling and the other to share transactions. Online selling data matching…

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Changes to the Assets Test for Centrelink Aged Pensions from 1 January 2017

Posted October 28, 2016 by North Advisory

Changes to the Assets Test for Centrelink Aged Pensions from 1 January 2017 As the end of the year is drawing rapidly to a close…

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ATO issues warning on unusually high deductions

Posted October 25, 2016 by North Advisory

The ATO has issued a warning that they are paying extra attention to taxpayers claiming higher than expected deductions for the 2015/16 income year. Assistant…

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Government releases more superannuation legislation

Posted October 4, 2016 by North Advisory

On 27 September 2016 the Government released another round of draft legislation implementing a number of the changes to superannuation it announced in the 2016 Federal Budget.

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Can your SMSF buy your business?

Posted September 22, 2016 by North Advisory

At first glance, the SMSF would not be able to acquire the property from the member because they are a related party of the SMSF.

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