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Business Accounting Solutions | Brisbane • Gold Coast • Sunshine Coast

The party’s over for family trusts

The party’s over for family trusts

The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goalposts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family...
Missed the director ID deadline? Now what?

Missed the director ID deadline? Now what?

If you missed the 30 November 2022 deadline for obtaining a Director ID, the Australian Business Registry Services have stated that they will not take action against directors that apply for their ID by 14 December 2022.  If you are required to but have...
Avoiding the FBT Christmas Grinch!

Avoiding the FBT Christmas Grinch!

It’s that time of year again – what to do for the Christmas party for the team, customers, gifts of appreciation, etc. Here are my top tips for ensuring your workplace Christmas season is generous and tax-effective. Tax & Christmas For GST-registered...
Taxing fame: The ATO’s u-turn

Taxing fame: The ATO’s u-turn

Sportspeople, media personalities, celebrities, and ‘insta’ influencers beware. The ATO has taken a U-turn on how fame and image should be taxed. If you’re famous and make an income from your fame and image, the way the ATO believes you should be...
Where are interest rates headed?

Where are interest rates headed?

Low-interest rates have been a mainstay since the global financial crisis of 2008. When the pandemic hit, Governments pushed stimulus measures through the economy, and central banks reduced interest rates even further. Coming out of COVID, housing market demand was...