02
Jul 2019
Minimum wage rises effective 1 July 2019
The Fair Work Commission’s Wage Review Panel handed down its 2018/19 minimum wage review on 30 May, awarding a 3% increase in the minimum wage and in modern award rates of pay effective from 1 July 2019 New national minimum wage The national minimum wage (NMW) will increase to $19.49 per hour or $740.80 per week (previously $18.93 per hour or $719.20 per week), a rise of $21.60 per week.
When cash flow gets tight, corporate compliance is often the first casualty. Some directors also think that if a tax debt can’t be paid, that it’s best not to lodge any tax returns. For your tax preparation it is even better to get some tax preparation consulting. However, according to a bankruptcy attorney the best way to get out of debt would be to get the proper help from a
28
Jun 2019
EOFY Tax Tips & Reminders
Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June. Some of these will help to minimize your tax and with Webtaxonline tax accountant Toronto you will have the hand of a professional to manage any issue or just to make sure you are in the right path.. Others are compliance measures
Recent clarification on the Superannuation Guarantee Ruling SGR 2009/2 by the ATO, confirms that superannuation is payable on annual leave loading unless it can be demonstrated that the leave loading is paid due to an employee’s lost opportunity to work overtime. The ATO has since published some examples on its website detailing when an Employer can demonstrate that the leave loading is paid due to an employee’s lost opportunity to
22
May 2019
Property Investors – BMT’S TOP TAX TIME TIPS
With tax time fast approaching, here are five tax time tips to ensure you maximise the deductions for your investment property.
Do you have a Discretionary Trust (also known as a Family Trust)? If yes, you need to be aware that you must complete your Trust Distribution Resolutions before 30 June. Why? To avoid paying extra tax at up to 47% on Trust profits.
13
May 2019
5 tax tips when renovating property
In today’s world, who does not want to own a property? All the way from a Hua Hin Real Estate to the Maimi Beach Mansion, everyone has their eye set on one or the other property. Renovations and repairs can boost the capital value and rental yield of an investment property, but they can also have tax implications, so before reading up on renovation tips, investors should seek expert tax
Hi Tony, in the lead-up to 30 June we want you to know why using a “bucket company” can be a great strategy for saving tax on trust profits distributed.
16
Apr 2019
Save Tax – Opportunities with Super for 2019
In the lead-up to 30 June, we want you to be aware of new opportunities to save tax with super contributions.
03
Apr 2019
Top 5 Trust Account Audit Tips
To ace your trust account audit, you need to first ask yourself this – do you really understand your trust account? Essentially, a trust account is a special type of bank account “where money is received or held by an agent (including any member of the agency’s staff) on behalf of another person in relation to real estate, business or settlement transaction.” If you’re a Realtor (or an investor contemplating getting licensed), you’ve