by Kewal Singh | Jun 1, 2020 | General
The ATO is reminding rental property owners that each year it sees some fairly common mistakes being made with tax claims made and the outcomes that result, in regard to investment properties. It has therefore released a list of the top 10 stumbles, and how best to...
by Kewal Singh | Jun 1, 2020 | General
If your business is looking to put on more staff, first of all: congratulations. But secondly, a warning. The engagement status of workers is an important distinction – whether they are employees or independent contractors – and has consequences that can get many...
by Kewal Singh | Jun 1, 2020 | General
Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company . But there are also some tax obligations for PAYG withholding and superannuation guarantee...
by Kewal Singh | Jun 1, 2020 | General
As a taxpayer, if you use your own car for work purposes, you can claim a tax deduction using one of two methods — the cents per kilometre method or the logbook method. If you use someone else’s car for work purposes, you can only claim for direct costs you pay for...
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...
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