Arnold & Finlay Blog
Everyone knows term deposits now earn less than 2%. I expect that this may even fall further next year, so if you are retired you either change your life style or you seek investments paying higher returns. Read more…
You probably know that we started offering audit insurance a few years ago. We could see the trend of the ATO increasing the number of audits/reviews each year, either due to concern over the industry (history of 'cash only'), an anomaly over KPI's (eg., GP not high enough, so cash must not be reported), selection based on data matching (over 800M transactions in 2018), or from public tips and dob-ins (a whole new ATO department set up for public information provided). Read more…
The tax office is able to recover from the directors' a company's unpaid PAYG tax and superannuation, by issuing any or all of the directors with a Director Penalty Notice (DPN). Read more…
There is more to super than just getting a tax deduction! Read more…
Sometimes I get confused. Things that seem to make sense at the time, then get combined with other information so it doesn't make as much sense any more. Read more…
TAX PLANNING MUST DO'S BY 30 JUNE 2019 Read more…
Nearly the end of another financial year. The TV ads have started, 'Beat the tax man', inciting you to buy something from them and so save tax. Accountants then get calls like "Should I buy this before 30 June and save lots of tax?" Read more…
All employers are required to report each payroll to the ATO from 1 July 2019. However, there is a phase-in period to allow a start on 30 September, for example, where software needs to be acquired. Read more…
I know I tend to labour the point on business planning, but it can have such a successful outcome for so small an effort. Read more…