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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

November 2013 - Business Edition

In this issue

  • Post-election 2013 – State of Play
  • Income tax – changes
  • Combatting "Dividend Washing"
  • Adjustment notes for GST
  • Payments of refunds of overpaid GST
  • Interaction between the otherwise deductible rule in FBT and the income tax law
  • Letters to directors of companies with overdue superannuation guarantee obligations
  • Information from the ATO about SMSFs
  • ATO Publications

Post-election 2013 – State of Play

The 2013 Federal Election was held on 7 September 2013 and following this, the Coalition has formed government. Below is a recap of the tax policies the Coalition announced prior to forming government that will change the tax landscape that was known prior to the election. 

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Income Tax – changes
As indicated by the Coalition prior to the Federal election, the carbon tax and minerals resource rent tax are going to be repealed. The Government has since released exposure draft legislation repealing these measures from 1 July 2014. 

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Combatting "Dividend Washing"
Prior to the Federal election, the former Assistant Treasurer announced a measure to combat "dividend washing".  

Read more

 

Adjustment Notes for GST
If you have a business where you issue adjustment notes. 

Read more

Payment of refunds of overpaid GST
Previous editions of our newsletter has noted the Government's plans 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 the GST was overpaid because a supply was incorrectly treated as a taxable supply. 

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Interaction between the otherwise deductible rule in FBT and the income tax law

 

The ATO recently released Taxation Ruling TR 2013/6 which sets out the Commissioner's views on whether a 'once-only deduction' arises in calculating the taxable value of an 'external expense payment fringe benefit'. 

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Letters to directors of companies with overdue superannuation guarantee obligations
During October 2013, the ATO issued letters to directors of companies that have unpaid superannuation guarantee amounts. The letter explains the director's obligations and personal risk in relation to their company's superannuation guarantee debt. 

Read more



Information from the ATO about SMSFs
If you have a self-managed superannuation fund (SMSF), there is a few pieces of information the ATO has recently issued about SMSFs. 

Read more


ATO Publications

Information of ATO publications issued out recently. 

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