ASIC is working with the Australian Business Register (ABR) in preparation for the retirement of trading names. From November 2018, all trading names will be removed from the ABN Lookup and only registered business names will continue to be listed. Prior to the 2012 establishment of the national business names register, the ABR collected names used by […]
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Practice Update- April 2018
Compiled by our tax experts the National Tax and Accountant Association (NTAA New superannuation rates and thresholds released The ATO has published the key superannuation rates and thresholds for the 2018/19 income year. The Non-Concessional Contributions cap will remain at $100,000 (although transitional arrangements may apply), and the Concessional Contributions cap will remain at $25,000. […]
Practice Update: March 2018
Compiled by our tax experts the National Tax and Accountant Association (NTAA Big changes proposed to eligibility for the CGT SBCs The Treasurer has released draft legislation containing new “integrity improvements” to the CGT small business concessions (‘SBCs’) (i.e., including the 15-year exemption, the retirement exemption, the 50% active asset reduction and the small business […]
The Empire Strikes Back: The New GST Withholding Regime
November 20th 2017 Contributed by Andrew Henshaw and Rajan Verma, Directors of Velocity Legal Ordinarily, vendors pay GST on the value of the taxable supplies that they make. Vendors will sell goods or services for a price that includes a GST component. When it comes time to lodge their BAS, the vendor will then pay […]
Practice Update
Compiled by our tax experts the National Tax and Accountant Association (NTAA). February 2018 Further ‘affordable housing’ measures passed Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS), and also allowing older Australians to ‘downsize’ and then contribute the proceeds […]