With the aid of technology and extensive data mining the ATO is now able to compare the performance of your business with other similar businesses in your industry. Each year, you disclose information to the ATO regarding your business’ performance, information regarding your industry sector, your balance sheet and what is paid to employees in […]
A common complaint of business owners is that there is not enough cash to pay wages and keep creditors happy. There are some simple cash flow tips and measurement tools that you can use to keep your cash flow moving. Plan ahead Keeping a simple cash flow budget enables you to know what is coming […]
With more businesses now using contract labour, the ATO has begun focusing on contractors and their obligation to pay the 9.5% Superannuation Guarantee Levy. Section 12(3) of the Superannuation Guarantee (Administration) Act 1992 provides that if the contract is “wholly or principally for labour” then that person is deemed an employee and therefore has a Superannuation Guarantee […]
The ATO has issued a formal guideline that where two taxpayers jointly own a property (on say a 50/50 basis), and one pays rent to the other to occupy the entire property, that “lessor” is entitled to claim their share of rental property expenses against the rental income they receive from their co-owner who lives […]
There are many ways to give to worthy causes besides financial giving such as volunteering your time or pro bono services. Each method can deliver major benefits to the recipient and is appropriate depending on the circumstances. However, a well considered financial giving strategy not only benefits the recipient but can result in significant tax […]
The ATO reports that scammers take almost a billion dollars from more than 800,000 Australians every year. Scams involving tax are common, and victims will often find that their identities have been misused or sold to commit fraud. Tax scam example George received an email claiming to be from the ATO, stating that his income […]
The face of Blackburn has changed beyond recognition since the early 1920s when it looked more like a quiet country town. It is hard to imagine that photos from the time don’t show any traffic on the streets. The transformation to a modern business centre in the heart of Melbourne’s eastern suburbs could not be […]
As an employer you must provide a safe and healthy workplace for your workers and contractors. This includes: Providing safe premises Maintaining machinery and materials Having safe systems at work (such as controlling entry to high risk areas) Providing information, instruction, training and supervision of employees to ensure they work in a safe and healthy […]
The impact of an ageing population on the economy will be significant. Each productive worker will need to support a higher number of retirees and welfare recipients. Retirees will find that access to age pensions will become more difficult. Businesses will also feel the impact. For some, there will be opportunities for growth, but in […]
Your employer is paying 9% of your salary into super. Although you can’t use these funds until you retire, it is still your super. Taking an interest in your super now can have a big impact on your future lifestyle choices. There are some simple things you can do that will significantly improve your long […]
Saward Dawson acknowledges the Traditional Custodians of the land on which we work and we pay our respects to Elders past and present.
Level 1, 20 Albert Street, Blackburn VIC 3130
PO Box 1212, Blackburn North VIC 3130
contact@sawarddawson.com.au | +61 3 9894 2500
Liability limited by a scheme approved under Professional Standards Legislation.
