Laptops and Notebook Accessories Exempt form FBTby Jon McArthurThe ATO has advised that the FBT exemption on laptops and notebooks provided by employers to employees has been expanded to cover certain accessories. Smart Tax Planning within Rach of Most Australiansby Jon McArthurMost Australians would like to benefit more from the income they earn throughout the year. Many seek ways to maximise their annual taxation refund. Others take this a step further, and utilise tax planning strategies to help reduce their taxable income and provide a foundation for creating wealth, by increasing their disposable income. Common GST Mistakesby Jon McArthurThe GST have now been operating for over 5 years yet despite a massive education campaign by the Australian Taxation Office (ATO) there are still many errors and omissions that are being made by small businesses on their GST returns. 2006 Fringe Benefits Taxby Jon McArthurDo you pay your employees Fringe Benefits? The Fringe Benefits Tax Return deadline for the year ended 31 March 2006 is near. Correct record keeping is they key to reporting Fringe Benefit amounts. Here are some helpful tips on some of the most common benefits to get your paperwork into order. Adrian Raftery FCA, doesn't think he's a high achiever, he likes to think he's just an Aussie Rules player in a suit.by Jon McArthurAn article which recently appeared in the ICAA's Charter Magazine last month about ARW's managing partner. Investment Properties - Are you Keeping Adequate Records?by Jon McArthurThe ATO has advised that their recent reviews indicate that some investment property owners are not keeping adequate records to support the income returned or claims being made in regard to rental properties. Making a Strategic Aquisitionby Jon McArthurPurchasing another business could expand your business overnight. It might enable you to take advantage of new economies of scale, or diversify into new areas. But an acquisition can also bring problems, draining financial and management resources from your original business. Choosing the Right Business Structureby Jon McArthurIt is important to start in business with the correct operating structure as any subsequent restructure can be expensive due to income tax, stamp duty and legal costs. The Tax Office Looks into Low Doc Loansby Jon McArthurLow Documentation loans are a flexible solution for self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application. The Australian Tax Office is concerned that small businesses using low doc loans may have tax compliance issues. Accessing Pensions Prior to Retirementby Jon McArthurSince 1 July 2005, people who have reached “preservation age” can take some or all of their superannuation in the form of a non-commutable income stream without having to retire. Legal Ownership of Super Fund Assetsby Jon McArthurThe Australian Taxation Office (ATO) has stated in a recent Media Release that trustees of self managed superannuation funds (SMSFs) must ensure that the assets of the Fund are appropriately recorded to show ownership by the Fund. |
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