Illegal phoenix activity
Legislation to combat illegal phoenix activity The Government has announced a package of reforms to tackle illegal phoenix behaviour. By way of background, phoenixing occurs when the controllers of a company strip the company’s assets and transfer them to another company, to avoid paying the original company’s debts. The proposed measures will deter and disrupt […]
Tax myths busted!
Tax season is underway To help Australians get their returns right, the ATO has identified the top 10 tax myths and misunderstandings it says are causing incorrect claims. Assistant Commissioner Kath Anderson says unreliable tax advice is leaving taxpayers exposed. Top of the list is the myth that everyone is entitled to claim a “standard deduction” […]
Small business tax tips
Tax time tips for small business The ATO claims that it is committed to supporting small businesses and making it as easy as possible for them to understand and meet their tax obligations at tax time. Consequently, Assistant Commissioner Mathew Umina has some tips to help small business in the lead up to and during […]
Super opportunity for first home buyers and downsizers
You may be able to use your super to help make the most of your money Whether you’re buying your first home or you’re ready to downsize, these two new schemes support the Government’s goal of reducing pressure on housing affordability in Australia. First home buyers The ‘First home buyer super saver scheme’ allows you […]
Self-service super contributions
Easier to claim a tax deduction on personal super contributions than ever before The 1 July 2017 super reforms have opened up a fantastic new opportunity to build wealth in super and reduce your tax bill at the same time. Before 1 July 2017, the only way most people could take advantage of the concessional […]
Perth’s Omnis Group smashes $1M challenge
Starting 1 July 2016 Perth Accountants and Financial Planners announced to the market that we would add $1 million to our clients’ bottom lines during the financial year. On 30 June 2017 Omnis Group recorded a final staggering result of $1.435 million in business performance and profit improvements for clients! “We had some really decent […]
