In This Issue: Restructuring Businesses to Corporate Entities New ATO Guidance on Travel Expenses Choosing a Business Structure Margin Scheme Valuation Method Restructuring Businesses to Corporate Entities There are compelling reasons to transfer businesses from trusts to companies. The major advantage of operating a business through a company is the ability to retain income. The […]
As we begin a New Year, many businesses will be eligible for a number of small business concessions for the first time due to an increase in the aggregated turnover threshold from $10 million to $50 million. The threshold increase was first announced in the 2020–21 Federal Government Budget in October 2020 and has now […]
In this issue: Temporary Full Expensing Changes | New ATO Focus – Private Wealth | Loss Carry Back for Companies
IN THIS ISSUE | OVERVIEW |
TEMPORARY FULL EXPENSING OF CAPITAL ASSETS | LOSS CARRY-BACK FOR COMPANIES | PERSONAL TAX PLAN – BROUGHT FORWARD | JOBMAKER HIRING CREDIT | INCREASE OF THE SMALL BUSINESS ENTITY TURNOVER THRESHOLD | MISCELLANEOUS FBT CONCESSIONS
IN THIS ISSUE: JOBKEEPER 2.0 LEGISLATION | CORPORATES & PRIVATE GROUPS ALERT | FBT ISSUES DURING COVID-19 | SUPERANNUATION MEASURES- AN UPDATE | DEBT RECOVERY AND INSOLVENT TRADING MORATORIUMS EXTENDED TO 31 DECEMBER 2020
In the company of the Lord An Australian, an Irishman and an Englishman were sitting in a bar. There was only one other person in the bar. The three men kept looking at this other man, for he seemed terribly familiar. They stared and stared, wondering where they had seen him before, when suddenly the […]
The Big Squeeze The local bar was so sure that its bartender was the strongest man around that they offered a standing $1,000 bet. The bartender would squeeze a lemon until all the juice ran into a glass, and hand the lemon to a patron. Anyone who could squeeze one more drop of juice […]
The roundest knight at King Arthur’s round table was Sir Cumference. He acquired his size from too much pi. I thought I saw an eye doctor on an Alaskan island but it turned out to be an optical Aleutian . She was only a whisky maker but he loved her still. A rubber band pistol […]
Give him another chance The host of the convention says, “We are all here today to prove to the world that Accountants are not stupid. Can I have a volunteer?” One Accountant steps up. The host says to him, “What is 15 plus 15?” After 15 or 20 seconds he says “Eighteen.” Obviously everyone is […]