Have a professional accountant undertake a vendor due diligence on your business as part of the early stages of preparing it for sale. Check the advantages...

The Tax Office will commence issuing letters warning tax payers they will receive a default assessment for tax where not lodged their tax return by due date...

The current age limit for mandatory super guarantee contributions of 70 years will be abolished...

If you own an asset or a business that is not likely to increase substantially in value, but is income producing, think about capping tax at 30%...

In a recent article for SmartCompany.com.au, Christopher Tipler illustrated current Australian bank behaviour as being like the “dance of the drones” where people place an over emphasis on process rather than outcomes...

A Bill is before Parliament to increase the immediate small business asset write-off from $1,000 to $6,500 in two steps. The first step to $5,000 is conditional on the Minerals Resource Rent Tax receiving Royal Assent and...

If you have listed company shares showing a book loss you can generate a capital loss by...

Big accounting firm KPMG has released a world survey of corporate tax and indirect tax rates from around the world indicating...

Australian businesses that have international dealings with related parties will face significantly increased red tape...

TRADING STOCK: If you sell your business you have to include as assessable income the market value of trading stock sold...

In 2011, the Tax Office made net cash collections of $273 billion - $20 billion higher then the 2010 Financial Year, but 4.5% below the budget forecast...

Full-bench of the Federal Court refused a Tax Office appeal to apply transfer pricing adjustments in SNF (Australia) Pty Ltd ordering that the company’s objections be allowed in full...

The Full Federal Court has ordered the Tax Office to pay the legal costs for Mr and Mrs Clark following the High Court refusing a Tax Office application to hear an appeal in this case...

Your super fund can purchase your business premises at commercial valuation and charge a commercial rent to your operating entity...

A Bill is before Parliament to progressively increase the super guarantee rate from 9% to 12% by July 2019...

Rio Tinto, the second largest mining and resources company in the world, announced the closure of the Lynemouth Aluminium Smelter in England because new UK carbon taxes have made it unprofitable...

Micro businesses with turnover around $75,000 have been able to claim a 25% tax offset over recent years. The Government has moved to abolish this offset and...

The Razor Gang is out – tax changes proposed. The 2011/12 Mid-Year Economic and Fiscal Outlook (MYEFO) has been issued by the Government...