by Kewal Singh | Jun 1, 2020 | General
A business contract to purchase a business is a legally binding agreement between the purchaser and the vendor. Although the contract can be verbal, a written contract is recommended as it provides proof of what was agreed upon, prevents misunderstanding, prevents...
by Kewal Singh | May 30, 2020 | General
Probin and FCT [2019] The AAT has upheld the ATO’s Super Guarantee Charge (SGC) assessment of a ‘contractor’, ordering the employer to backpay 5 years of Superannuation Guarantee; $27,272. The Tribunal found that he was engaged as an employee not an independent...
by Kewal Singh | Apr 1, 2020 | General
Temporary arrangements have been put in place by the ATO for people working from home due to the coronavirus crisis. Taxpayers working from home may now claim a rate of 80 cents per hour and will only be required to keep a record of the number of hours they have...
by Kewal Singh | Jan 25, 2020 | General
Accruing directors’ fees is a tax deferral strategy as the company receives a tax deduction in one financial year, but the related party (directors), are not taxed on the income till the following financial year. A company is entitled to claim a deduction in one...
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