The Tax Office is focusing on rental property owners this tax time and is encouraging rental owners to understand their obligations and check their claims are right before lodging their tax returns. The ATO will be paying close attention to excessive interest expense claims and incorrect apportionment of rental income and expenses between owners. The…
It is incredible the impact that the physical characteristics of an office can have upon workplace productivity. Elements such as colour schemes and office layout, which may seem inconsequential, can have tremendous effects on productivity. Here are three things to consider when redecorating your office space: Lighting: Natural light has a positive effect on people’s…
From 1 July 2016, those who purchase a residential or commercial property in Australia that is worth more than $2 million must withhold 10 per cent of the price. Buyers are then required to remit this amount to the Tax Office unless they obtain a tax clearance certificate from the property vendor. The new rule…
One of the biggest challenges currently facing business managers and employers is how to retain millennial talent. Younger workers are quite different to other generations and are therefore much harder to retain than any other working demographic. Common reasons associated with young workers jumping ship include not feeling connected to a business, not seeing any…
The Taxation Office has recently announced that it is working towards making a simpler BAS to reduce GST compliance for small businesses and also make GST record keeping and reporting easier. This is a result of tax professionals, small businesses and industry associations expressing their concerns to the ATO over current BAS requirements. From 1…
