August lodgment and payment.

August 2010 monthly activity statements: final date for lodgment and payment.

Retail Expo 2010

Date: 20-22 September, Venue: Melbourne Melbourne http://www.retailexpo.com.au/

Government grants for SMEs

There are a wide variety of grants available to SMEs from the Australian Federal and state governments, providing small businesses with funding of often up to $1,500,000, but business owners claim they are too hard to apply for and cannot see the benefit. Grants such as Territory Business Growth in NT offer up to $10,000… Read the rest of this article…

New tax rates for 2010/11

Following the announcement made in the 2009 Federal Budget, new tax thresholds have now been introduced throughout Australia as of 1 July 2010. This means that new rates now apply to income tax payments made on behalf of employees. Employers are being reminded to apply the new tax rates when withholding tax for their employees,… Read the rest of this article…

Voluntary disclosure of offshore income

In this new financial year, Inland Revenue will be closing in on individuals and businesses that fail to report taxable income from offshore. Undisclosed international bank accounts, assets, life insurance policies and superannuation accounts held overseas will be of particular interest in 2010/11. An increase in assessments and audits, as well as collaboration with international… Read the rest of this article…

ATO compliance crack-down

The Australian Taxation Office has announced that in the 2010/11 financial year, it will be focusing its attention on taxation compliance issues for SMEs. This initiative is being undertaken in the hopes of promoting a level playing field for all small and medium enterprises throughout Australia, to continue to help those businesses currently unable to… Read the rest of this article…

Superannuation obligations

The ATO has also publicized their intention to investigate over 17,500 employee complaints about unpaid superannuation over the course of this financial year. Employers will be carefully scrutinized in an attempt to eliminate the practice of keeping employee wages off the books through cash payments. Businesses that incorrectly treat employees as freelancers or contractors, in… Read the rest of this article…

2010 Year End Checklists

Minimising the cost of end of year compliance Having your paperwork organised always makes life much easier. Preparing your end of year documents and information prior to coming to see us will save you time and money.  This is a general list of what to have ready when we next meet up. Accounts data file… Read the rest of this article…