ARW Report - Edition 20 - April '08We are pleased to bring you our April 2008 edition of the ARW Report. With the end of the financial year just around the corner, it is time to get serious with your tax planning. With substantial changes of both a legislative and political front in 2007, it is not too late to get your financial strategies into place for 2008. To make an appointment with your ARW consultant simply contact us. Visit our website for more information about the various services which we can provide. PS If you are having trouble with accessing the articles, then click on the box at top of your email to "turn on links" |
Will you live to 83?by Jon McArthurI read today that the average life expectancy is currently 81 for males & 83 for females. Being a 36 year old that is some great news. Tax planning tips – Before 30 June 2008by Stature ARW AccountingTo minimise the tax payable on taxable income, implementation of the following is recommended prior to 30 June 2008: Borrowing in a SMSF - ARW warns against itby Stature ARW AccountingWhilst there is currently alot of media & advertising promoting recent legislation that allows for SMSFs to borrow to purchase a house, ARW warns against it. From our experience we expect this loophole to close as soon as the first Federal Budget of the new Treasurer in May. Part IV A and ‘wash sales’by Stature ARW AccountingThe Australian Taxation Office (ATO) has issued a taxation ruling in relation to ‘wash sales’ which is used to describe the sale and purchase of the same or substantially the same asset within a short period of time. Banks to get tough on financeby Stature ARW AccountingWith the boom times seemingly over and the credit market generally tightening, it is prudent to prepare finance applications knowing the banks will be taking a tougher stance and lending only to the more blue chip borrower. Loan fringe benefitsby Ian HounslowLoan Fringe Benefits arise where an employer recognises they have mistakenly paid their employee an amount to which the employee was not legally entitled. Personal services incomeby Stature ARW AccountingThe Australian Taxation Office (ATO) has recently identified the common mistakes businesses make with relation to Personal Services Income rules. How to deal with staff wanting a pay riseby Stature ARW AccountingIn the current economic environment where there is both low unemployment and increasing inflation it is inevitable that valued staff will seek a pay rise. Business structures analysisby Ian HounslowIn considering the most appropriate business structure for a business it is important to identify the ‘must have requirements’ for that business and the ‘important requirements’. Working offsiteby Ian HounslowBusiness can benefit from employees working remotely or from home however to ensure such arrangements are effective some safe guards should be put in place first. Does your company’s registered office comply with ASIC requirements?by Jon McArthurThe Registered Office is the address which is registered with ASIC as the official address of a company, an association or any other legal entity. Generally it will form part of the public record. |
