Loyalty points can be applied to Services, Products, Gift Vouchers, and Packages. Each time a client purchases one of these items, which have points attached to it, the points are added to the client’s loyalty points total.  All you need to do is choose which items you’d like to put points on, decide on which services are redeemable and set the number of points a client needs to redeem the services. Alternatively, you can opt to have

Loyalty points can be applied to Services, Products, Gift Vouchers, and Packages. Each time a client purchases one of these items, which have points attached to it, the points are added to the client’s loyalty points total.  All you need to do is choose which items you’d like to put points on, decide on which services are redeemable and set the number of points a client needs to redeem the services. Alternatively, you can opt to have

In a speech given earlier this year, the ATO’s Assistant Commissioner for Superannuation, Dana Fleming, focused on the risk areas that the ATO had identified as being of most concern — and as being most in need of action. Each year the ATO analyses its data to identify the key risk areas that then form part of its compliance program. These key risk areas in the SMSF space include: illegal

Have you heard of the black economy but don’t really know what it is or how it impacts you and your business? Well, you’re not alone! What is the black economy? The black economy includes dishonest and criminal activities that happen outside the tax system, and those who try to misuse or abuse it. It encompasses many elements, from the under-reporting of income and non-payment of superannuation through to serious

While it’s still keeping a firm eye on work-related expenses, the Australian Taxation Office’s (ATO) top priority this tax year is rental deductions, reveals the ATO assistant commissioner Karen Foat. “We expect to double the number of in-depth audits we conduct to 4500 this year, with a specific focus on over-claimed interest, capital works claimed as repairs, incorrect apportionment of expenses for holiday homes let out to others, and omitted income from

There is no worse feeling then meeting directors and telling them they have a very large personal liability they never knew about. What follows are question like: “do I lose my home?”, “will I go bankrupt? I have children”, and so on. Unfortunately, I do this too often. Most directors (and professionals) in Australia know very little about director penalty notices (DPNs) and how they operate. Thousands of directors are

A number of employment related monetary thresholds are indexed annually on 1 July. Detailed below is a checklist of the key changes effective from 1 July 2019. Federal Minimum Wage (excluding statutory superannuation) 2018/2019 Financial Year 2019/2020 Financial Year $719.20 per week or $18.93 per hour $740.80 per week or $19.49 per hour Modern Awards Wage increase 2018/2019 Financial Year 2019/2020 Financial Year Increased by 3.5% Increased by 3% High

he term family trust refers to a discretionary trust set up to hold a family’s assets or to conduct a family business. Generally, they are established for asset protection or tax purposes. The importance of Family Trust Elections are explained below under the heading “Family trust elections — a word from the ATO on income distributions”. What is a Family Trust in Australia? An Australian family trust: is generally established by a family member