The Government has released an Issues Paper seeking feedback on Initial Coin Offerings (ICOs) in Australia and the application of Australia’s regulatory framework to ICOs. The ICO is a relatively recent financial innovation that is attracting significant attention as a niche form of fundraising. ICOs rely on Distributed Ledger Technology (DLT), such as blockchain, and…
The ATO has advised that the Taxable Payments Reporting System (TPRS) protected $2.7b from being lost to the black economy in the building and construction industry in the 2015/16 financial year.
There are a number of things that need to taken care of for tax purposes prior to moving overseas. One such thing is ensuring the assets of a related discretionary trust does not trigger a capital gains tax (CGT) event.
Recently, the Australian Taxation Office (ATO) has issued a warning for individuals who own a holiday home and claim certain deductions against their income.
Recently the federal government introduced legislation intending to implement a Director Identification Number (DIN) under Australia corporations law. This means that, as a director of a company registered in Australia, you will be required to obtain a DIN. This DIN will be a unique identifier and you will only have one for your entire life as…
Single Touch Payroll (STP) has been introduced into the Australian tax system to combat areas of taxpayer non-compliance of PAYG withholding and superannuation guarantee obligations. Past legislation has been enacted which brings this new payroll system into commencement from 1 July 2018.
When you are captain of your own ship, the critical decisions rest with you and this includes how you use excess cash. There are numerous courses you could navigate, but generally it comes down to three: Reinvest in the business or buy some income generating assets; Reward yourself by splurging on something special; or Do…
Fat overheads, paying for stuff you don’t need, poorly performing team members, blow-outs in your cost of goods sold and trying to flog products and services that the market no longer needs or wants, these are the Klingons off your starboard bow that reduce your profit. While they can seem threatening, here I’ve outlined THREE…
Financial technologies or ‘fintech’ for short, is as it sounds: technologies that improve financial outcomes. For business owners operating in, or wanting to expand globally, fintech discussions should be the leading topic in business development conversations. In an earlier article, I covered the pros and cons of payment processors, here I explore the role of…
It’s well known that Australian financial licencing laws are tough and AFSL licence holders can feel frustrated by the number of compliance hoops they need to jump through. But have you ever thought about how your Australian licence can provide a competitive edge in a global environment? Your AFSL licence hasn’t been easy to achieve…