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Don’t forget the January 2017 PPSR deadline

PPSR Deadline The grace period to correct security interests that were incorrectly migrated or not migrated at all to the new Personal Property and Security Register (PPSR) ends on Tuesday, January 31, 2017. If you are a holder of a security interest that should have migrated to the PPSR it…

Christmas party: Examples from the ATO

This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs, Liability limited by a scheme approved under professional standards legislation. Call us today…

Christmas party decision tree

This flowchart will help businesses work out the general tax implications of the year-end Christmas party. 1: Minor benefit exemption must be less than $300 per benefit, provided on an irregular and infrequent basis, and satisfy other relevant conditions. 2: Income tax treatment for entertainment expenses determined under tax law.…

Does your SMSF need a valuation?

Since 7 August 2012, a mandatory requirement by regulation came into force, and now aligns SMSFs with accounting principles. Consequently, for the 2012-13 and later financial years, SMSF trustees are required to use market values for the purpose of preparing year-end financial accounts and statements. Why assets need to be…

Shopping for a “luxury” car?

Beware of the luxury car tax You can judge whether a car is luxury or not, according to the government, if it costs more than $64, 132 for 2016-17. It’s not an over-the-top price tag if you’re considering true luxury, but it’s enough to cop an extra tax. What you…

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