Articles Starting your own business can be exciting and lucrative. But preparing your business for the administrative burden of all that red tape can be overwhelming. We highlight some of the issues you'll need to think about. Read more... Situations are changing all the time and it may no longer be necessary for an entity to be registered for GST. Read more... Most of you would be aware of the requirement to keep your records relating to your taxation affairs for 5 years (7 years for companies). However, you must also keep records of everything that affects your capital gains and capital losses. Read more... You've made the big decision: it's time to sell your business and cash out. But first, there are lots of small things you can do to guarantee maximum return on the asset you've spent so many years building. Read more... From 1st July, 2007, small businesses with an annual turnover less than $2 million are called Small Business Entities and may qualify for a range of tax concessions. Read more... The super co-contribution was introduced from 1st July, 2003. If you are eligible and make personal (after tax) contributions to a complying super fund or retirement savings account (RSA), the Government will match your personal contribution with a co-contribution up to certain limits. Read more... The Australian Tax Office (ATO) announced recently that they will fund a number of test cases involving the splitting of Personal Services Income (PSI) and the issue of tax avoidance. Read more... With many tax returns currently underway it’s a good time to be reminded of the record-keeping requirements in support of tax returns. Records are normally required to be kept for five years from 31st October, 2008 or the date your tax return is lodged, whichever is later. Read more...
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