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Business Accounting Solutions | Brisbane • Gold Coast • Sunshine Coast

New data breach laws come into effect

New data breach rules in effect from 22 February 2018 place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm. In October last year, almost 50,000 employee records...

Directors on ‘hit list’ for not paying employee super

Proposed legislation would see the ATO pursue criminal charges against Directors who fail to meet their superannuation guarantee (SG) obligations. An analysis by Industry Super Australia submitted to the Economics References Committee into Wage Theft and...
2022 Business checklist

2022 Business checklist

Here’s our list of the top 10 things to action or keep an eye on in 2022. 1. BUDGET A budget is the most prized weapon in your business arsenal.  A well-thought-through budget will capture your expected monthly income and expenses and enable you to track how you’re...

Foreign property owners slapped with fee for vacant property

Australia has followed the international trend of penalising foreign owners of Australian residential property who keep their property vacant for extended periods of time. Last month Parliament approved legislation that imposes an annual vacancy fee on foreign owners...

ACCC gets tough on credit card surcharge

The ACCC has issued a warning to businesses charging excessive credit card fees. One large merchant has already been issued with four infringement notices and has paid $43,200 in penalties. The new rules, which came into effect from 1 September 2017, prevent merchants...

Why property ‘flipping’ is the next ATO target

The tax law does not allow you to ‘flip’ a property tax-free even if you are living in it. Most people think they can move into a property, renovate it, and then sell it without paying tax. The main residence exemption – the exemption protecting your family home...