With almost three quarters of Australians owning real property, clients will be turning to you – their accountant – to discuss the structuring and tax implications of disposal, sub-division or development opportunities.
Intellectual property may not be as tangible as plant, property and equipment, but for many businesses its value exceeds the dollars on a balance sheet. When it comes to selling a business, IP can have a critical impact on the success of the deal for your clients.
Tax Events September-October 2016
Brian Richards and Trung Vu
I have recently found that many decisions made by the ATO lack communication of the detailed reasoning behind them.
The existing $2M turnover test for determining whether your client is a small business entity (SBE) is no longer your only consideration, with the Government’s 2016-17 budget proposing a number of significant changes to the SBE turnover test.
This presentation gives an overview of the Income Tax Profile process, what it means for your clients, and tips and tricks for dealing with any issues that may arise.
When the economy is perceived as unstable, business confidence falters. With an increase in bankruptcy cases also fuelling concern, personal wealth protection has become a top priority for many clients.
The Australian government is ramping up efforts to collect tax from foreign residents selling property within Australia. Rather than relying on the vendor to comply, the recent Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 shifts the responsibility to the purchaser.
An ATO audit begins as a fact finding mission. Although the ATO has access to a lot of government systems, all they see are data and numbers. They may therefore ask you for more information and/or documents to clarify your client’s situation.
How many business owners do you know who want to develop plans to retain key staff, grow profits, engage key staff in a discussion about enterprise value and develop succession plans?