Residential property tax of 1% of the property’s capital improved value is imposed on vacant properties. Properties will be deemed vacant if they are left unoccupied for six months or more in a calendar year. Exceptions include deceased estates, renovations and holiday homes. It is understood to be enforced by […]
If a company fails to comply with their obligations under the PAYG withholding system or the SGC provisions, company directors can be held personally liable for the amount the company should have paid. The Australian Taxation Office can force directors of a company that is unwilling or unable to meet […]
Amidst all the drama in Canberra recently, you could be forgiven for missing an important company tax rate change.
An amnesty to allow unpaid superannuation to be reported and paid without penalties has hit a big snag. The amnesty announced in May 2018 lasting for 12 months was concessional in allowing employers to catch-up unpaid compulsory superannuation with reduced penalties. However, the legislation has not passed and will not […]
The ATO has outlined key risk factors, behavioural triggers and paper trails that will draw its attention to your client’s SMSF this financial year.