Tax
Safe Insurance or a Future Street Fight - Part 1
If you are contemplating going into business in professional services then you need to consider Professional Indemnity insurance or PI as it’s known in the white collar world. PI insurance is a key piece of asset protection for your small business and will help you sleep at night.
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Does It Really Matter If I Pay Super Late - What Is All The Fuss About?
Have you been hearing scary stories about employers getting into trouble for not paying super for employees or paying a little bit late? Thinking it doesn’t apply to you and that it all works out in the end? Well it is true, it looks like the government is toughening up on those employers not quite managing their super obligations.
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Don't Make it Your Problem - DATA BREACH
You better be ready Mr or Mrs Business Person because New data breach rules come into effect from 22 February 2018. These rules place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm.
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Tax Services & Al
Recently the ATO commissioner Chris Jordan said a practice built on supplying “simple returns” needs to look at their business model. The ATO’s free products have come under fire by high volume tax agents, however, this is exactly the area where artificial intelligence will likely dominate and human intelligence may not be required.
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Main Residence Exemption – The Burden of Truth
I would expect that the majority of property owners and investors have heard something about the “six year main residence exemption for Capital Gains Tax purposes”. If not, here is a brief rundown:
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Innovative investor incentives
If your innovative idea has real legs for commercialisation in business then the government has set up a tremendous incentive for venture capitalist investors. It’s a sign our politicians are wanting to support the innovation of entrepreneurial Australians and it’s also an indication of the global vision of these entrepreneurs.
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Small business restructure roll-over concessions
What happens if you are in the wrong structure? Have you ever had a chat with a colleague or mate and thought “why aren’t I doing that” or “I wish I could change the way my business works”.
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Great news for everyone running a small business!
The Small Business Entity threshold has increased to $10 million from 1 July 2016 onwards (became law on 19th May 2017). Previously the Small Business Entity threshold was $2 million. Basically, you are a Small Business Entity if you carry on a business and have an aggregated turnover of less than $10 million.
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