by Ben Smith | Mar 31, 2022 | Financial Planning
The ATO has recently released a significant draft ruling around Div 7A, which ensures that private companies cannot make tax-free distributions of profits to shareholders or their associates in payments, loans, or forgiven debts. Generally, a private company is taken...
by Ben Smith | Mar 31, 2022 | Tax & Estate Planning
The AAT may soon be given more powers to help small businesses if a proposed Bill passes Parliament before the Federal election is called. The Bill, which is currently before the House of Representatives, seeks to enable small business entities to apply to the Small...
by Ben Smith | Mar 31, 2022 | Tax & Estate Planning
The end of March signals the approach of FBT time. Employers that have not previously provided employees with fringe benefits need to be aware this year that any COVID-19 related items provided may be subject to FBT, including rapid antigen tests and protective...
by Ben Smith | Mar 31, 2022 | SMSF Specialists
In Australia, it is estimated that around 300,000 young, part-time, mostly female workers currently and legally do not receive super contributions from their employers under the super guarantee scheme. This is due to their before-tax earnings per month falling below...
by Ben Smith | Mar 16, 2022 | Accounting & Audit, Financial Planning, Tax & Estate Planning
Farmers & Primary producers hit by storms and floods in NSW can access $15,000 immediately, through grants of up $75,000, as part of the jointly funded Commonwealth-State Disaster Recovery Funding Arrangements. Grants are now available for eligible primary...
