by epoch | Oct 2, 2017 | eNews
Australia’s insolvent trading laws impose harsh penalties on directors of companies that trade where there are reasonable grounds to suspect that the company is insolvent. Criminal and civil penalties can apply personally including penalties of up to $200,000,...
by epoch | Sep 5, 2017 | eNews
The issue of Director’s fees often comes up – should we pay directors, how to pay, and if we do pay fees how should they be paid? I answer the common questions for private companies. Can you pay a Director? Directors who work in the company, executive directors, would...
by epoch | Sep 5, 2017 | eNews
The ATO receives around 20,000 reports each year from people who believe their employer has either not paid or underpaid compulsory superannuation guarantee (SG). In 2015-16 the ATO investigated 21,000 cases raising $670 million in SG and penalties. The ATO’s own risk...
by epoch | Sep 5, 2017 | eNews
ASIC is in the midst of a concerted campaign targeting private companies that have outgrown the reporting exemptions. ASIC requires companies to prepare and lodge a financial report and a directors’ report each financial year, and have the accounts audited unless the...
by epoch | Aug 2, 2017 | eNews
The Federal Budget announced that non-residents will no longer be able to access the main residence exemption for Capital Gains Tax (CGT) purposes from 9 May 2017 (Budget night). Now that the draft legislation has been released, more details are available about how...
