We’ve had to get used to working remotely, often at very short notice, and while no doubt your practice has been able to adapt to the changing work environment over the past year, what hasn’t changed is the myriad of channels you and your clients receive important ATO...
Financial Services
Financial advice including wealth creation, insurance and lending services
Tax Fundamentals: What advice can I rely on?
by Lee-Ann Hayes | Sep 10, 2018 | Financial Services
In 2015, the Government released its tax White paper titled ‘Re:think Tax discussion paper’. As part of the discussion on complexity, the paper noted: In the 1950s Australia had a tax system made up of around 1,080 pages of tax law. … Now we have more than 14,000...
What’s your opinion on a 3 year SMSF audit cycle?
by David Saul | Aug 13, 2018 | Financial Services
The 2018 Federal Budget proposed the SMSF audit cycle be extended to 3 years for funds with good compliance history, starting from 1 July 2019. Treasury has asked for industry consultation. Saul SMSF is conducting a survey, allowing you to give your opinion on the...
Class – Impact of Super Reforms shows tectonic shift in assets, with taxable SMSF assets almost doubling to $422bn
by Class | Aug 5, 2018 | Financial Services, Latest News
Wednesday, 1 August 2018 The latest Class SMSF Benchmark Report has exposed the real impact of Super Reforms on pension assets, with the dual forces of TRIS change and introduction of the $1.6m transfer balance cap forcing assets to move into accumulation and mixed...
How GST applies to Vouchers
by Simon Calabria | Jul 12, 2018 | Financial Services
This article looks at how GST applies to vouchers, and highlights that not all vouchers are treated the same way under the GST provisions. In particular, it looks at vouchers issued to be redeemed for food and/or drink at events. How does GST apply to vouchers? This...
Unenacted tax measures at 30 June 2018: bills wrap-up
by Robyn Jacobson | Jul 12, 2018 | Financial Services
In wrapping up the Autumn session of Parliamentary sittings, the Senate adjourned at 8.17 pm on Thursday 28 June 2018 until Monday 13 August 2018. At the close of Parliament, surprisingly and disappointingly, the backlog of highly anticipated tax bills was not passed...
Why Does Accounting Software Make Life Harder?
by AdamSchell | Jun 13, 2018 | Financial Services
Accounting in the main is simple arithmetic, add a little here, take a little there, balance to zero, and you’re done. If only it were that simple in practice when applied to the accounting and bookkeeping professions. What started as a simple mathematical solution...