News

Bookkeepers remind on incoming TPRS obligations

With the taxable payments reporting system now set to cover five different industries, in-house and external bookkeepers have been urged to start ensuring business clients start keeping records of contractor payments.

Australia – a comprehensive run-down of our vital statistics.

          An up-to-date snapshot of Australia's vital statistics.   Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer Housing Taxes Climate   Access all this data here.   tradingeconomics.com

Golden Rules for Deductions

            The Australian Taxation Office now uses sophisticated data analytics to assess a range of deductions and claims.  Taxpayers must follow three golden rules when making a deduction: the taxpayer must have spent the money (and not been reimbursed); the claim must be directly related to earning the taxpayer’s income; they […]

How’s Australia going – vital statistics?

            Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer Housing Taxes Climate   Access all this data here.   tradingeconomics.com

Your guide to smarter holiday reading

Given all of the talk about many Australians being apathetic about their superannuation, it seems counter-initiative that one of the fastest-selling books ever in Australia is about how to improve your personal finances.

Tax, SMEs set to be ‘political football’ in 2019 as election nears

Small and medium businesses are set for a busy year of tax promises as political parties look to sway voters ahead of a Federal Election, says one mid-tier.

Verifying asset values in a SMSF.

ATO issues fresh warning on valuations after major cases.

Cap lifted on popular financing option for clients

APRA will remove its cap on interest-only loans from next year, a move which is set to open more financing options for clients in 2019.

Admin, BDBN errors flagged for SMSFs this year

SMSF practitioners and their clients have been cautioned on some of the ongoing mistakes that continue to be made with documentation and some of the newer traps that have cropped up with the changes to superannuation.

Expiry of 900,000 interest-only loans set for January

If you feel a bit aggrieved by having to move away from a workable interest only loan then you won't be alone.  Apparently there are 900,000 loans in the same boat!

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