Articles

Improve your cash flow

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 […]

Contractor or employee?

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 […]

Co-owner rental property expenses

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 […]

Philantropic giving

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 […]

Personal fraud and tax scams

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 old Blackburn dairy has changed

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 […]

OH&S obligations

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 […]

Investing in key staff

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 […]

Superannuation – Too young to care?

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 […]

Rental property claims

Avoiding common mistakes The ATO has identified some common mistakes being made in claiming rental property agent fees and commissions. What are property agent fees and commissions? These are fees such as regular management fees or commissions paid to a property agent or real estate agent for managing, inspecting or collecting rent on behalf of […]