superannuation Archives - Page 3 of 3

Director’s loan repayments ruling

July 31, 2019/in Business Advice /by Salisbury Accountants & Business Advisors

Failure by director to make repayment of private company loan gave rise to dividend

The AAT has held that a taxpayer’s failure to make minimum yearly repayment on a loan taken by him from a private company where he was the sole director and shareholder, was not due to circumstances beyond his control.

The AAT […]

Lifestyle assets under ATO watch

July 19, 2019/in Bookkeeping /by Salisbury Accountants & Business Advisors

Lifestyle assets data matching program protocol

The ATO is conducting a lifestyle assets data matching program to obtain information on insurance policies for marine vessels, enthusiast motor vehicles, thoroughbred races horse, fine art and aircraft.

The ATO will obtain information from data providers for the 2013/14 and 2014/15 financial years, to identify taxpayers who are […]

New Superannuation Personal Liability Regime

July 15, 2019/in Business Advice /by Salisbury Accountants & Business Advisors

Before You Become a Director

If you are about to become a company director, check for any unpaid or unreported PAYG withholding or SGC liabilities.

If you become a company director and the company has outstanding PAYG withholding and SGC obligations, you will become personally liable for a penalty equal to these amounts (these are […]

Important End of Financial Year Actions for You

June 28, 2019/in Business Advice /by Salisbury Accountants & Business Advisors

EOFY reminders – annual tax returns

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June.

Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit. We have […]

Tag Archive for: superannuation

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The AAT has held that a taxpayer’s failure to make minimum yearly repayment on a loan taken by him from a private company where he was the sole director and shareholder, was not due to circumstances beyond his control.

The ATO is conducting a lifestyle assets data matching program to obtain information on insurance policies for marine vessels, enthusiast motor vehicles, thoroughbred races horse, fine art and aircraft.

If you are about to become a company director, check for any unpaid or unreported PAYG withholding or SGC liabilities.

Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June.