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The small business concessions can be very generous in reducing or even eliminating the tax impost on a capital gain you make from selling your business (or your company), or an asset used in the business. For example, in combination with the general 50% discount on capital gains, these concessions can reduce your tax bill on a capital gain in the millions to nil in fairly mundane circumstances. Read more
A Bill before Parliament, which will likely pass, will permit the ATO to report your outstanding tax debts to Credit Reporting Bureaus (CRB) Read more
The Government has entered a Bill into Parliament to reignite the previously lapsed superannuation guarantee amnesty. But this time it takes a new turn by adding a stick to the carrot. Read more
Like the British throne, businesses also require clear succession planning. However, many, particularly the owners of SMEs, consider their succession much too late and accordingly find their hand is played for them with less than desirable results. Read more
“Am I making any money?” It’s a question we get asked constantly, with what should be a relatively simple answer, but simply referring to profit is not enough. Read more
With 30 June approaching, this document draws your attention to year-end tax planning strategies and compliance issues you need to consider to ensure you are in good tax health. Read more
With all the attention on the recent election - and the aftermath - a new law coming into effect from this 1 July has not received the attention it deserves. As you would know, businesses are required to withhold tax from their employees’ wages and report it to the ATO. The gross wages is usually a deductible expense, even if the tax withheld has not yet been paid to the ATO. Read more
For many people, tax is confusing. Throw another complicated layer of what is Capital Gains Tax (CGT) as part of that tax equation and you wonder why you can’t work out your personal tax – you are not alone Read more
Though the current business economic climate is good, there is growing sentiment that we are headed for an economic downturn. Read more
Jayco Adelaide is one of two retailers of Jayco Caravans in South Australia but has established itself as the sixth largest Jayco dealer in Australia and New Zealand. A family run business for 40 years, 2019 brought with it an opportunity for the next generation to put their stamp on the business. Read more