Capitaleyes Latest Accounting News

A reminder regarding rules for allowing eligible people to claim tax deductions for the unused portion of their super concessional contributions caps from prior years.
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Many small businesses employ workers on a verbal agreement. But what happens if a dispute arises over the terms and conditions of someone’s employment – and there is nothing in writing?
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Commissions, investment earnings, gratuities and more must be included to be assessed, the office warns.
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The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage continued national hardships.
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The step should help promote transparency and fairness, says IPA. The ATO has begun disclosing tax debts of sole traders to credit reporting bureaus (CRBs) if they meet its criteria for referral.
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Tax benefits attract miscreants, but non-arm’s length rules should allow minor transgressions to be fixed, says CA ANZ.
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With interest-only loans no longer an option the commercial incentive for sub-trusts ends, says the Tax Institute.
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ATO update on trust distributions outlines key features of low and high-risk arrangements.
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A written business plan is essential to help you start and grow your business
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Beneficiaries are urged to understand the tax effect of entitlements in the wake of a recent High Court decision.
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First update was in January 2022, now phase 2.
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The more detail you can give your accountant the quicker your tax return can be processed and, usually, the better the outcome. The following will help.
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