• End of Financial Year Reporting

    JENNIFER MURRAY, GOODING PERVAN – DFK MEMBER FIRM The Corporations Act 2001 (Cwth) sets down deadlines which companies must meet during the process of reporting which ensures that there is timely a..
    read more
  • ACCELERATE DEDUCTIONS

    A business can claim a tax deduction for any expenses it has incurred and has a legal liability to pay, even if the actual payment has not yet been made. A common example is employee bonuses that have..
    read more
  • Small and General Business Tax Breaks

    Your business may be eligible for the General and Small Business Tax Break for depreciable assets purchase between 1 July 2009 to 31 December 2009 which are installed and ready for use by 30 June 2010..
    read more
  • CAPITAL ALLOWANCES

    If you or your business has recently purchased a commercial or residential building you may want to consider obtaining a quantity surveyors report that will entitle you to a 2.5%pa deduction on the co..
    read more
  • ATO SYSTEM UPDATE

    You may be aware that that ATO recently upgraded its IT system which processes income tax returns and activity statements. Due to problems with the upgrade within the ATO system, the processing of ret..
    read more
  • INDUSTRY BENCHMARKS

    The ATO has recently released new industry benchmarks for a range of industries. The tax office gathers these statistics based on all tax returns lodged for a particular industry classification. By..
    read more
  • NSW PAYROLL TAX

    A reminder that all NSW Annual Payroll Tax Reconciliations are due for lodgement and payment on 21 July 2010. The payroll tax threshold for 2010 is $638,000 which includes the total of all wages, sala..
    read more
  • GIC AND SIC RATES

    The ATO has published general interest charge (GIC) and shortfall interest charge (SIC) rates for the fourth quarter of the 2009-10 income year. The GIC annual rate for April – June 2010 is 11.16..
    read more