Record Keeping

Record keeping

Keeping good business records is important for a number of reasons. It assists you to:
■ comply with your tax and superannuation obligations
■ gain a greater insight into the financial health of your business, enabling you to make informed decisions
■ manage your cashflow
■ demonstrate your financial position to prospective nlenders, and also potential buyers of your business.

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FBT year-end checklist

March 31 marks the end of the 2021/2022 fringe benefits tax (FBT) year which commenced 1 April 2021. It’s time now for employers and their advisors to turn their attention

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ATO’s new crackdown on Discretionary Trusts

The ATO has just updated its guidance around trust distributions made to adult children,
corporate beneficiaries and entities that are carrying losses. Depending on the structure of these
arrangements, there is a potential that the ATO may take an unfavourable view on what were previously
understood to be legitimate arrangements.

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Ridesharing: The Driver

Uber and other ride-sourcing facilitators have become increasingly popular over recent years. From a
driver’s standpoint, there are a number of tax issues potentially in play. See overleaf for the tax implications from a rider’s perspective.

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Salary sacrificing to super

Are you an employee thinking of putting some of your pre-tax income into superannuation to boost your retirement savings? This is known as salary sacrifice, and the good news is that it can benefit you and your employer.

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Employee Super

Paying employees super through a super clearing house

If you’re a small business owner, you’ll know that you’re required to pay your employees superannuation guarantee

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Our Management Credentials