What is a franked dividend and what does it mean to have a franking credit? Obviously there are advantages in receiving dividends from your share investments, but there is a huge difference between getting dividends that are franked and dividends that are not …
ReadI love paying taxes. Said no one ever. Indeed, we all welcome tax deductions and always look for ways to reduce our taxes whether as in individual or as an operator of a small business. Fortunately, you can …
ReadFollowing Treasurer Josh Frydenberg’s plea to Australian companies to lift the economy by choosing investment over special dividends and share buybacks, economist Ross Garnaut said full cash flow tax deductions for business expenditures might just do the trick. Dr. Garnaut said an …
ReadHaving trouble securing a much-needed bank loan for your business? There are hundreds of other small businesses in your predicament. It is increasingly difficult to get business loans from traditional banks in Australia due to regulatory bottlenecks. This …
ReadThe ATO is out to get cleaning and courier businesses who are under-reporting taxable income. The office will identify these businesses through data from the Expanded Taxable Payments Reporting Scheme– a reporting scheme designed to prevent businesses from falsely …
ReadThe ATO announced it plans to visit some 500 businesses in the NSW mid-north coast area as part of its ongoing efforts to address tax compliance issues. The ATO said it hopes to help protect honest businesses by …
ReadThe Australian Taxation Office (ATO) definitely means business as they intensify their objective to eliminate, apprehend, and prosecute illegal business operators (black market) in the country. In fact, they are even going geographic-specific with their hunt. Around 10,000 …
ReadHear the Chan & Naylor story from the founders Ed and David themselves and how they started in the Accounting Industry as a small business that developed into a nationwide property and business tax specialist firm with 11 …
ReadOnline shoppers could lose access to foreign retail sites who avoid GST and import costs under a crackdown being considered by the ATO and Border Force to deal with “unfair competitors” on local businesses. Local businesses are already …
ReadSummer is just around the corner, and with it comes the exciting prospect of a well-deserved holiday. Many of us are now busily making travel plans, and many property owners are planning for travellers! Leasing a room or …
ReadHot news this week in the business world is the increasing popularity of franchises. Millennials, in particular, are snapping them up, as an alternative to the unsettled job market. It makes a lot of sense; in effect, you’re …
ReadWhen we first start out, we generally employ people as Casuals. It is the easiest relationship really. We just put them on and pay them for the hours worked. Simple exercise really. But it is not necessarily the …
ReadThinking of buying into the hospitality industry? Then you’ll be pleased to read the results from this year’s Bankwest Future of Business: Focus on Hospitality Report. The report gives a useful overview of what’s happening in the industry …
ReadThe Australian Taxation Office (ATO) conducted a small business engagement research last April that found tax accountants continue to play an important role in supporting small businesses. Across the country, accountants were the preferred source of tax and …
ReadTo help reduce payroll tax and to create better transparency, the Victorian government will start a new standardised method of calculating the value of startup companies and their shares. This new method will adopt a so-called “safe harbour” …
ReadChan & Naylor Accountants in Hawthorn warn their clients about a new scam in a form of an email, asking business name registry customers to provide their personal information and pay fees to renew their business name. These …
ReadFrom the 1st of July, business owners with 20 or more employees will be required to report to the ATO all payments such as salaries, wages and Pay as you Go withholding and superannuation from payroll solution each …
ReadFrom the perspective of somebody who sells businesses every day, three little words are responsible for more businesses NOT selling than anything else: “It’s got potential”. Though buyers look for potential, they hardly ever pay for it. ‘Potential’ …
ReadYesterday, yet again, I have met with a Business Owner who hired a Business Coach to assist them with their Exit Strategy only to find the business is no better off i.e. no closer to being exit-ready 12 …
ReadSmall businesses can change their legal structures without incurring income tax liability because of the small business restructure rollover. Small businesses have different reasons why they would want to restructure their business: some want to minimise tax and …
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