Author: Ken Burk

Community, Small Business Tax Advice

New Rules For Gift Card Expiry Dates

In Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion.

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Community Support, Strategic Financial Advice

Cash Payments Are Holding Your Business Back

In a world that’s raining credit cards, a ‘cash only’ sign will leave your business dry…

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Blog, Community, Tax

Tax Obligations For Car Sharing

There are many third party services popping up that make it possible for your car to earn some income while you are not using it, such as Car Next Door, Carhood or DriveMyCar Rentals. But, the ATO are now examining these arrangements to ensure everyone is paying their fair share of tax. 

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Blog, Lending & Finance, Property

Airbnb vs Tax – What You Need to Know

So there are extra rooms that you don’t use and it’s just occurred to you that the extra cash that could come in from renting a room or two on Airbnb outweighs the negatives of having a complete stranger in your home – OK, what do you need to be aware of?

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Tax

Did someone say there are tax cuts coming?!?

1 July 2018 is the start date for the seven year income tax plan announced in the recent 2018-19 Federal Budget. But who gets the tax cuts from 1 July?

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Tax

Proposed Research and Development Tax Incentive Changes

Unfortunately the aim to save $2.4B over 4 years has complicated the Research and Development Tax Incentive Scheme (R&DTI) for companies with a turnover over $20M & reduced the benefits for the majority of claimants.

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Tax

Your business has been selected for an ATO audit!

These are the words nobody ever wanted to hear, but have you ever wondered how the ATO identifies who to audit?

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Tax

WHAT IS SINGLE TOUCH PAYROLL AND DO YOU NEED TO DO ANYTHING?

Single Touch Payroll (STP) is the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO.  If you have more than 20 employees then you need to do something before 1 July 2018 – Yes, this year!

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Tax

Does it really matter if I pay super late – what is all the fuss about!?!

Have you been hearing scary stories about employers getting into trouble for not paying super for employees or paying a little bit late? Thinking it doesn’t apply to you and that it all works out in the end?

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Tax

What could possibly go wrong?

You have had a great idea.

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Tax

Do you use your car for work or in your business?

YES? … You should speak with us here at Paris Financial about claiming this in your Income Tax Return. But, be aware that the ATO have strict rules about what and how car use can be claimed.

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Tax

Small business restructure roll-over concessions

What happens if you are in the wrong structure? Have you ever had a chat with a colleague or mate and thought “why aren’t I doing that” or “I wish I could change the way my business works”.

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