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Business Start-up

Business Start-up

A business in start-up should be an exciting time, not one of stress of the unknown.

Business Start-up
Grow your Business

Grow your Business

Do you want to grow your business? Are you looking to expand, increase revenue and grow your profits?

Grow your Business
Expand your Business

Expand your Business

Do you plan to expand your business into new locations? Perhaps you'd like to franchise, or take on licensees?

Expand your Business
Protect your Assets

Protect your Assets

As important as acquiring assets is the need to protect them.

Protect your Assets
Exit your Business

Exit your Business

Have you considered all the possible reasons why you might exit your business, and have you put a contingency plan in place for it?

Exit your Business
February 2013 Newsletter - Business

In this issue:

To download a full copy of our newsletter, click here.

2013 Federal Election

With the early announcement of the 2013 federal election, this will cause the government to re-prioritise tax measures. Read more

Restructuring your Business

The federal government is looking to remove certain income tax impediments that impact business restructures contained in the capital gains tax (CGT) provisions. Read more

Cutting the company tax rate

The Treasury had set up the Business Tax Working Group to see if some changes could be made to the business tax system to assist businesses in operating in the current tough economic environment. Read more

Rules against Tax Avoidance

Following some decisions in cases going against the ATO, the government has decided to tighten up the rules which target tax avoidance by taxpayers. Read more

Special rules for private companies

The Board of Taxation has announced that it will review the special rules, colloquially known as "Division 7A", which apply to certain transactions between shareholders and private companies. Read more

Businesses in net GST refund position

In the 2011-12 Federal Budget, the government announced that it planned to extend the current GST instalment system to allow small businesses that are in a net GST refund position to continue to use the GST instalment system. Read more

What is a supply for GST purposes - Qantas

Recently, the High Court handed down a decision in which it held that Qantas had made a taxable supply for GST purposes in the case where a passenger does not board a booked flight and either a refund for payment of the flight is not claimed by the passenger or the payments is not refundable. Read more

Refunding Excess GST

The Government recently released Exposure Draft legislation to clarify the operation of a provision in the tax legislation that inhibits a taxpayer from getting a refund of GST already paid to the Commissioner if it turns out GST was overpaid because a supply was incorrectly treated as a taxable supply. Read more

In house fringe benefits - FBT

In the Mid-Year Economic and Fiscal Outlook report released by the government in late October 2012, the government announced a change would be made to the FBT treatment of in-house fringe benefits provided through a salary sacrifice arrangement. Read more

Self Managed Super Funds

There is lots of activity going on in relation to self-managed superannuation funds (SMSF). More and more people are deciding to set up their own SMSFs. We highlight some of the current issues for SMSFs. Read more

Superannuation publication from the ATO

The ATO has prepared a publication entitled "Super – what employers need to know" which gives employers an overview of their essential obligations in relation to superannuation and their employees. Read more

Changes to the ABR

The Australian Business Register website has recently been upgraded and some new functionality has been added. Read more

Taxable Payments Reporting - Building & Constructions Industry

Previously, we noted that the new rules comprising the Taxable Payments Reporting System began to apply from 1 July 2012. As a reminder, these rules only affect participants in the Building and Construction Industry with an ABN and require certain payments made to contractors for certain building and construction services to be reported. Read more

Motor vehicle data matching program

The ATO has embarked on a "data matching" program where they will collect details of individuals or businesses that have acquired a vehicle with a transaction value of $10,000 or greater in the 2011-2012 and the 2012-2013 financial years from motor vehicle registries in all States and Territories. Read more

Useful ATO links

The ATO has published on its website a useful suite of documents for SMEs. Read more

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