Halletts Reading Room

Halletts Reading Room Library

Welcome to Halletts's reading room. Please find below a selection of informative articles on topics of business and personal financial management.

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Edition 71: May 2010 View edition

Keeping it in the family show synopsis

There are options to provide for future generations through tax effective structures.......

What happens to your super after you die? show synopsis

Death and taxes are often said to be the only things in life that are certain. But have you ever wondered how the two are connected in relation to your superannuation?....

Edition 70: April 2010 View edition

Total & Permanent Disability Insurance - It’s a matter of definition show synopsis

With so many things, the details are often what counts in the end. This is no different when it comes to establishing appropriate Total and Permanent Disability insurance. Do you know if you have the right coverage for your needs?....

The “R” word show synopsis

After you cope with the news and your redundancy entitlements are added up, the numbers can look pretty good. However, knowing how long the redundancy money will last is vital, especially if you haven’t secured other work by the time you receive your final payout....

Edition 69: March 2010 View edition

Building a bigger retirement nest egg show synopsis

Will your superannuation provide you with the retirement you want? Given the stellar returns experienced by the Australian stock market in 2009, you might be thinking the worst of the financial crisis is behind us.

Enforcement of judgement debts show synopsis

When all alternative avenues for collecting long outstanding debts have failed, organisations will need to decide whether it is commercially viable to take legal recourse against a debtor to recover an outstanding amount.

Edition 68: February 2010 View edition

Lessons from ‘The Last Lecture’ of Dr Randy Pausch show synopsis

Reflections on why it is important of planning for the future, while ensuring that you make the most of today. With a new year and a fresh new decade now upon us, many people are making resolutions to live their lives in a different and more positive way.

Voluntary Liquidations show synopsis

Should you be facing the prospect of winding down your company, there are several factors to consider.

Edition 67: January 2010 View edition

Aged care options show synopsis

Aged care: what are the options, and how much does it cost? There are a myriad of aged care options available in Australia, depending on individual needs.

What you need to know about Ponzi schemes show synopsis

‘A fool and his money are soon parted’ as the old saying goes. Right? Not necessarily. The financial scams being promoted these days – especially over the internet – have become as sophisticated as the clients they are attempting to target.

Edition 66: December 2009 View edition

Dealing with the ATO in difficult times show synopsis

In the current economic environment, businesses struggling with their cash flow may find meeting their tax obligations increasingly difficult.

Superannuation – Don’t exceed new limits show synopsis

From 1 July 2009 the concessional contribution cap was halved to $25,000 per person per annum (or $50,000 per person if the member is over 50 years of age).

Edition 65: November 2009 View edition

Should you consider fixing your home loan? show synopsis

What are the pros and cons of fixing your home loan interest rate.

Investing in Australian Property Trusts show synopsis

The last year and a half has been a tumultuous time for investors, especially those with assets in listed and unlisted property trusts. When the tightening in credit markets became apparent in early 2008, many investors were quick to offload their exposure and sell their investments. As a result, unit prices plummeted, as did overall investor confidence in the sector.

Edition 64: October 2009 View edition

A golden future? show synopsis

Is gold still the inflationary hedge it is perceived to be?

Not all debt is created equal show synopsis

Many people wait until their home loan is repaid before starting to invest. Unfortunately, this means they invest later in life, limiting the growth potential of their investments. There is, however, a strategy that lets you invest now and continue to pay off your home loan reasonably quickly.

Edition 63: September 2009 View edition

When is a company in trouble? The risk of insolvent trading show synopsis

Directors of companies facing financial stress constantly find themselves in the difficult position of deciding whether to cease or continue operating. The decision to continue to operate may prove detrimental to the directors should the company subsequently fail.

The importance of personal insurance show synopsis

Reminder not to cut insurances if your budget is tight. Insurance premiums are money well spent.

Edition 62: August 2009 View edition

New salary sacrifice thresholds show synopsis

We are pleased to be able to provide you with a review of how the Federal Budget changes in contribution threshold limits will affect salary sacrifice.

Home office expenses show synopsis

Do you have an office at home? Do you use it for income producing purposes and incur additional running costs? If you answered ‘yes’ to these questions then you may be entitled to claim a deduction for ‘running expenses’.

Edition 61: July 2009 View edition

New year, new beginnings show synopsis

It’s a good time for clients to look at their goals and portfolio, and adjust them for the new financial year.

2009/10 personal tax rate changes show synopsis

Individual tax rates are changing from 1 July 2009. If you have payroll software, you will need to ensure that you keep your software up to date so you can download the latest tax rates from your supplier.

Edition 60: June 2009 View edition

CGT: how to make the rules work for you show synopsis

Helping clients to understand the CGT rules in the lead up to the EOFY

Some common mistakes made on income tax returns show synopsis

The Australian Taxation Office reports that about 11.8 million individuals lodge tax returns a year; however, some make common errors.

50 per cent investment allowance show synopsis

The Federal Government has recently passed the 50 per cent investment allowance and it is now law.

Edition 59: May 2009 View edition

Using trusts to manage family wealth show synopsis

A trust can benefit the creation and preservation of family wealth

‘Lifestyle assets’ owned by companies show synopsis

Recent Government announcements bring under the spotlight the issue of private companies which own so-called ‘life-style’ assets, for example cars, boats and real estate.

Edition 58: April 2009 View edition

Educating children while paying a mortgage show synopsis

Do you pay off the mortgage and draw down for fees or is it better to use managed funds?

Edition 57: March 2009 View edition

Fixed interest – demystifying the jargon show synopsis

With stock market volatility there has been an increased interest in fixed interest investing. Do you understand what terms like yield curve or coupon mean ?

Are Self Managed Super Funds really that super? show synopsis

This article looks at the the pros and cons of establishing a Self Managed Super Fund (SMSF)

Edition 56: February 2009 View edition

Home office expenses show synopsis

The Flight to Safety: Is Cash Really King? show synopsis

Give careful consideration before investing in so-called “safe” assets

Edition 55: January 2009 View edition

Powers of Attorney show synopsis

An important component of any financial plan.

Change we can believe in? show synopsis

What are the implications for investors after the election of Barack Obama?

Edition 54: December 2008 View edition

Tax Office Compliance Program 2008/09 – what it means for micro-enterprises and small businesses show synopsis

The term ‘micro enterprises’ refers to taxpayers (including SMSFs) with an annual turnover of less than $2 million. Small to medium enterprises businesses refer to taxpayers with an annual turnover of between $2 million and $250 million, including highly wealthy people who with their associates, effectively control $30 million or more in net wealth. The key priorities that the Tax Office are focusing on in accordance with its Compliance Program for 2008/09 include:

Take care with lower interest rates show synopsis

People desperate for an easing in interest rates had their wish granted when the Reserve Bank unexpectedly cut interest rates by 1%, but not for reasons we can cheer about.

Edition 53: November 2008 View edition

Safe havens show synopsis

With financial markets remaining in a state of turmoil, where’s a good place to park your surplus cash and ongoing savings?

Rational behaviour? show synopsis

Economics is a bit of a mixed bag. Part science, part psychology and, many of us might suspect, a fair bit of guesswork as well. Economists do a great job of telling us what has happened and why, but their predictions of the future often fall wide of reality.

Edition 52: October 2008 View edition

Remember the Basics in a Turbulent Market show synopsis

Over recent months we have seen the stock market fall and climb back only to fall again. Where will the share market head next? Here are some reminders about investment basics on how to survive when the market is turbulent.

Super contributions - too much super can mean extra tax show synopsis

Do you know that your superannuation contribution could be subject to additional tax if it is above the cap ?

Edition 51: September 2008 View edition

Business travel rates 2008-09 show synopsis

The Tax Office has released the 2008-09 travel, accommodation and meal allowance rates.

Research & development (R&D) show synopsis

Did you know that you can claim 125 per cent and up to 175 per cent tax deductions for eligible expenditure for certain R & D ?

Edition 50: August 2008 View edition

Location! Location! Location! show synopsis

For sale: well presented 3 BR family home. Convenient location just 45 km from CBD and 10 km from adequate public transport. Four car garage. A desirable residence? If petrol was under $1 a litre, and with a car space for mum, dad and each of the kids, it might be very desirable. However, as petrol closes in on $2 a litre, it’s a different story.

Personal super contributions and income tax/SMSF returns show synopsis

Some important information for self employed people that have made contributions to their self managed super fund.

Edition 49: July 2008 View edition

Super contributions - too much super can mean extra tax show synopsis

Do you know that your superannuation contribution could be subject to additional tax if it is above the cap ?

Child Care Benefit and Child Care Tax Rebate from 1 July show synopsis

There has been some significant changes to the Child Care Benefit and Child Care Tax Rebate

Edition 48: June 2008 View edition

2008/09 Personal tax changes show synopsis

Once again the new financial year brings welcome tax cuts.

Small business succession planning show synopsis

Many self-employed people overlook the value of the businesses they create, but with a bit of prior planning, some of this value can be released at retirement.

Edition 47: May 2008 View edition

Change to calculation of super guarantee from 1 July show synopsis

The Tax Office is reminding employers that from 1 July 2008 ordinary time earnings (OTE), as defined in the super guarantee law, must be used to calculate super contributions for their employees.

Personal Services Income - ATO identifies mistakes show synopsis

The Australian Taxation Office (ATO) has recently identified the common mistakes businesses make with relation to Personal Services Income rules.

Edition 46: April 2008 View edition

ATO reminder to proprietors of private companies show synopsis

You must treat your private expenses separately from your company expenses.

Managing employees working from home show synopsis

We are pleased to be able to provide a summary of some of the key management issues that need to be considered when offering staff the opportunity to work from home or off site.

Edition 45: March 2008 View edition

Superannuation Lost Members Register show synopsis

The ATO has recently found that the number of lost accounts on the register has grown to about 6.1 million, with assets totalling approximately $11.9 billion! Is some of it yours !

Tax benefits with insurance show synopsis

Building a financial plan without adequate insurance is like building a house on flimsy foundations. Comprehensive insurance cover can be a significant expense. However, the out of pocket cost of insurance can be reduced by taking advantage of the tax deductions that apply to specific types of insurance, and to some methods of implementing insurance.

Edition 44: February 2008 View edition

Coping With Volatility show synopsis

What a Year! The Australian share market gave investors a bumpy ride last year. At the start of 2007 the All Ordinaries index was at 5,650. It climbed 14.3% by July, plummeted 12.2% over the following month, then put on a massive 20.9% to hit an all-time-high of 6,854 on November 1st. It closed the year at 6,421 before a miserable start to 2008.

Problems with car fringe benefit records show synopsis

The Tax Office has warned that some employers are using inaccurate methods in dealing with the FBT obligations resulting from providing car benefits to their employees.

Edition 43: January 2008 View edition

Outlook for 2008 show synopsis

2008 could be one of those years when emotion overrules reason as the most powerful influence on the economy. The crisis in confidence owes its origins to the sub-prime crisis in the US. The resulting housing slump and lower consumer confidence sparked fears of a US recession, with many people worrying that this could spread beyond US shores.

Will this year be different? show synopsis

The holidays are over but will 2008 be different financially for you? You can be sure that if you do what you did in 2007, this year will be much the same. Here are ten tips so that next Christmas you can look back with pride at your accomplishments.

Edition 42: December 2007 View edition

Tax tips for small business show synopsis

The Tax Office has some useful tips and information to help businesses start the new year on the right foot. There are some important things all small businesses need to remember, including good record keeping practices, meeting GST obligations, reporting, paying tax and superannuation.

Gear up your super show synopsis

Self managed super funds are about to enter a revolution. New rules have legitimised a form of borrowing in superannuation – something generally not allowed in super funds.

Edition 41: November 2007 View edition

Franking Credits Available To Life Tenants show synopsis

The Government will amend the income tax law to allow income beneficiaries of testamentary trusts (such as life tenants) greater access to franking credits on dividends received by the trust.

Cash Flow – the Key to Success show synopsis

Australian Securities & Investments Commission statistics tell us that in 2004 and 2005 there was an average of 18,000 businesses that entered into external administration or insolvency. Furthermore, the Small Business Development Corporation statistics tell us that 60% of small businesses fail in the first three years of operation.

Edition 40: October 2007 View edition

Concessions for small business entities show synopsis

From 1 July 2007, small businesses with an annual turnover less than $2 million are called small business entities and may qualify for a range of tax concessions.

SMSF trustee compliance checklist show synopsis

If you are a trustee of a Self Managing Superannuation Fund (SMSF) you have a range of responsibilities that you must adhere to in the day-to-day operation of your fund. Below is a checklist outlined in the Government's Role and Responsibilities of Trustees paper which details what you must be aware of as a trustee of a SMSF.

Edition 39: September 2007 View edition

Australia is Changing show synopsis

There are some interesting statistics from the latest census. What are the opportunities and what are the issues ?

What is a share capital account? show synopsis

This article answers some questions on how shares are paid for what can be used to pay for shares.

Edition 38: August 2007 View edition

Delegate or Die! show synopsis

There is not a single management skill more critical to your personal and professional success as an entrepreneur than learning to delegate. But delegating successfully is much more than simply handing out assignments.

Changes to the CGT concessions for small business – 2006/07 year show synopsis

If a small business taxpayer disposes of a business, including goodwill, and is able to use the small business CGT concessions, it can potentially reduce the capital gain to nil!

Edition 37: July 2007 View edition

When self-education expenses are not deductible show synopsis

In the case of Lloyd v Federal Commission of Taxation a taxpayer tried to argue that there was a perceived connection between the education expenses she had incurred while doing her PhD in Interactive Digital Media and Telecommunications and the increased income she received from her bank employer as a result of promotions.

ATO focus on 2007 Tax Returns show synopsis

The Tax Office has advised that it will be paying particular attention to the following in 2006/07:

Edition 36: June 2007 View edition

Super place to protect your assets show synopsis

If you’re a small business owner, you probably think of your business as your retirement nest egg. You invest your time, energy and money to build it up and maximise its value for when you retire.

Unpaid Tax or SGC ? The ATO could come calling show synopsis

In this year's federal budget the ATO received extra funding of $125.7 million over four years to work on reducing debt and collecting superannuation guarantee charge debt owed by employers.

Edition 35: May 2007 View edition

A quiz for small business owners show synopsis

Try the quiz below and see how you compare to the results of a recent survey conducted by the Investment and Financial Services Association (IFSA).

Changes to termination payments show synopsis

Eligible termination payments as they currently exist will be replaced by "employment" termination payments and superannuation benefits from 1 July 2007.

Edition 34: April 2007 View edition

It’s the money in your pocket that counts show synopsis

Successful investing means making sure that what you earn comes back to you and doesn’t end up being paid to the taxman.

Super protection show synopsis

Arranging life insurance through a superannuation fund is a cost-effective way to pay the premiums. From 1 July 2007 it will get even better but it is still advisable to consider the pros and cons.

Edition 33: March 2007 View edition

Amendments To The Tax Law To Reduce Compliance Costs For Small Business show synopsis

The Minister for Revenue and Assistant Treasurer, Peter Dutton MP, has announced amendments to the integrity rules concerning distributions by private companies (Division 7A of the Income Tax Assessment Act 1936).

Its Fringe Benefit Tax (FBT) Time Again show synopsis

The deadline for Fringe Benefits Tax is 31 March 2007. We are pleased to provide you with a recap on FBT.

Edition 32: February 2007 View edition

Maintaining the Value of your Business show synopsis

The majority of business owners want to realise their investment in the business at some point, but how many work at keeping their business at its optimal value and attractive to buyers ?

SMSF Compliance Program – audits to double in 2007 show synopsis

In 2005/06, the ATO completed 4,530 audits of SMSFs and is planning to double their compliance coverage in 2006/07.

SuperSeek and you may find some of the lost $billions is yours show synopsis

With $9.7 billion of lost superannuation lying in Australian funds, you’d think people would be lining up to claim their share but, despite easy ways to track it down, the amount of money in lost super accounts is steadily growing.

Edition 31: January 2007 View edition

Can you rule from the grave? show synopsis

It’s only natural to worry about your children and others who rely upon you. Whilst you are alive, you have control – but what happens when you die? Will your bequests be wasted? Will the taxman get more than his share? Will your dependents really benefit?

Will this year be different? show synopsis

The holidays are over but will 2007 be different financially for you? You can be sure that if you do what you did in 2006, this year will be much the same. Here are ten tips so that next Christmas you can look back with pride at your accomplishments.

Edition 30: December 2006 View edition

TAX OFFICE TARGETS show synopsis

Are you on the list of Tax Offic Targets ?

TIPS FOR MAINTAINING YOUR BUSINESS’ POSITION IN SEARCH ENGINES show synopsis

After spending time and money optimizing your web site so that it is highly ranked in search engines, don’t rest on your laurels. There is still work to be done otherwise you will slip off the page.

Edition 29: November 2006 View edition

DO YOU HAVE A DEBT TO THE TAX OFFICE? show synopsis

If you are having difficulty meeting your committments to the Tax Office...

The Growth of Socially Responsible Investing show synopsis

Making money and making a difference.

Edition 28: October 2006 View edition

Is your business growing too fast? show synopsis

Sales or service orders are coming in thick and fast. The phones are constantly busy and the workforce is working flat-out. It sounds like a dream come true for any business. Be careful there may be danger ahead !

Search Engine Optimization – How can you Improve your position ? show synopsis

The advent of Google and other web site search engines means that more and more people use these services to find information and purchase products online.

Edition 27: September 2006 View edition

Simplified Superannuation - Final Decisions show synopsis

In this year’s Federal Budget, the Treasurer outlined plans to reform Australia’s superannuation system. On September 5th 2006, following considerable consultation, the Treasurer confirmed that the Government will proceed with its intention to reform the superannuation system as outlined in the Budget. We are pleased to be able to provide you with a summary of these changes.

What to look for in a Product Disclosure Statement? show synopsis

A Product Disclosure Statement (PDS) describes the product features, together with a summary of the significant benefits, risks and the costs associated with that product.

Edition 26: August 2006 View edition

Using Financial Ratios to Manage your Business show synopsis

Your business’ balance sheet and income statement are essential, but they are only the starting point for successful financial management. Using ratio analysis on your financial statements you can analyse the success, failure, and progress of your business

Managing your Business in an Economic Downturn show synopsis

With the outlook for business conditions uncertain, we thought it would be worthwhile to provide our clients with some reminders on managing businesses when product demand is down, credit is tight, and consumer confidence has dipped.

Edition 25: July 2006 View edition

Do You Know The Warning Signs Of Too Much Debt? show synopsis

In recent years Australians have been on a debt binge. Personal debt is at record levels. With rising interest rates there is not much room to move.

Taking Your Business Online show synopsis

You know the old saying “you only get one chance to make a first impression”. In many situations your web site is the first contact a person will have with you business. When people hear of your company or wish to seek further information on it, they want to do so in their own time, online.

Edition 24: June 2006 View edition

How to Build Your Business Credit Profile show synopsis

For most small businesses it can be difficult to source finance. It is a bit of ‘catch 22’. You can’t obtain finance without a good credit history but you can’t have a credit history without having borrowed in the past.

Be Careful of End of Financial Year Tax Investment Schemes show synopsis

It is that time of year when investment schemes are heavily promoted on their tax effectiveness. In the past, many people have been disappointed with the outcome of such investments. If you are ever approached by a promoter of investment schemes or are considering the merits of different schemes always seek professional advice.

Edition 23: May 2006 View edition

What are the Pro’s and Con’s of Lease Finance show synopsis

Leasing equipment does not have to be considered a direct liability on your financial statements. This is advantageous, as it does not limit your ability to borrow from lending sources.

Things to consider as a result of the 2006 Federal Budget show synopsis

With the federal budget now a few weeks old and after much discussion. What does it all mean? We would like to provide you with some things to consider regarding the key changes.

Edition 22: April 2006 View edition

Moving Forwards on Reverse Mortgages show synopsis

The Australian Bureau of Statistics (ABS) estimates that between 1999 and 2031, the population aged 60 years and over will double. According to recent data, over 2.6 million Australians, or 13% of the population, are over the age of 65. These factors have given rise to a number of financial products targeting the ‘grey dollar’.

Self Managed Super Funds Continue to Grow show synopsis

The Investment and Financial Services Association (IFSA) has recently released an informative paper on trends among Self Managed Super Funds (SMSF).

Transferring Real Estate to Family or Friends show synopsis

Have you sold or given away any real estate to your family or friends? If you answered ‘Yes’ to this question, you may need to find out the market value of your real estate or property.

Edition 21: March 2006 View edition

Margin Lending and Saving Tax show synopsis

Here’s a brief look at margin lending and what it means from a tax perspective.

Managing the Price of your Product show synopsis

Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value.

Edition 20: February 2006 View edition

The Tax Office Looks into Low Doc Loans show synopsis

Low Documentation loans are a flexible solution for self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application. The Australian Tax Office is concerned that small businesses using low doc loans may have tax compliance issues.

Laptops and Notebook Accessories Exempt from FBT show synopsis

The ATO has advised that the FBT exemption on laptops and notebooks provided by employers to employees has been expanded to cover certain accessories.

Fuel Tax Credit Coming in 2006 show synopsis

As you may be aware, in June last year the government released its policy document Securing Australia’s Energy Future (the energy white paper) announcing a major program of reform to modernise and simplify the fuel tax system.

Edition 19: January 2006 View edition

Making a Strategic Aquisition show synopsis

Purchasing another business could expand your business overnight. It might enable you to take advantage of new economies of scale, or diversify into new areas. But an acquisition can also bring problems, draining financial and management resources from your original business.

Investment Properties – Are you Keeping Adequate Records ? show synopsis

The ATO has advised that their recent reviews indicate that some investment property owners are not keeping adequate records to support the income returned or claims being made in regard to rental properties.

Edition 18: December 2005 View edition

Christmas Present for Taxpayers over 55 and still in the Workforce show synopsis

For clients over 55 and still working, some good news.

Bushfires and Primary Producers show synopsis

With the bush fire season upon us it is worthwhile being alerted to the ATO’s treatment of different issues that may arise if a primary producer is effected by a bushfire.

Christmas Parties & Fringe Benefits Tax show synopsis

The Christmas Party season is in swing. There are many rules relating to what is exempt from FBT and what is not. This article contains a brief overview.

Edition 17: November 2005 View edition

10 Ways to Make your Employees More Productive show synopsis

It's a simple equation. Improving staff productivity is likely to boost the profitability of your business. So, what straightforward steps can you take to get more out of your people ?

Some of the Myths about Starting Your Own Small Business show synopsis

Many people decide to start their own business because they think it is a great alternative to having to work for someone else. There are many myths that exist, deceiving people into starting their business with unreasonable expectations.

Managing Your Creditors show synopsis

If you have established good relationships with your suppliers, most will allow you to delay payment for a while so your business can weather short-term cashflow problems. But ignoring your creditors could put your business at risk.

Edition 16: October 2005 View edition

Five Things Every Small Business Owner Should Know About the Business show synopsis

As everybody knows, nearly everyone has advice for the small business owner, some of it sound, and some not so sound.

Salary Packaging – A Competitive Edge for Employers show synopsis

Attracting and retaining staff is becoming increasingly difficult in today’s tight labour market.

Get Your Business Investment Ready show synopsis

The time comes when many small-business owners realise the only prospect for expansion is bringing in external investment.

Edition 15: September 2005 View edition

Creating Cash Flow Projections You Can Trust show synopsis

Trying to run a successful business without cash flow projections is like driving along on the freeway in a driving rainstorm without turning on your windshield wipers.

Public Private Partnership Agreements show synopsis

A public-private partnership agreement (PPP) is a useful and expedient way for small-medium private enterprises to collaborate in or secure government contracts for public services or infrastructure.

Edition 14: August 2005 View edition

We Must Stop Meeting Like This! show synopsis

Did you know that the average business professional spends 23 hours a week in meetings?

Is Self Managed Super Right for you? show synopsis

Four key questions that could help you decide.

Edition 13: July 2005 View edition

Mezzanine Financing: Filling the Funding Gap show synopsis

Where do you turn for top-up funding when you have exhausted the traditional bank and financial institution options? Mezzanine financing might be the right answer for you.

Perseverance is Fundamental to Success show synopsis

Perseverance is the key to success. Making mistakes is part of learning and failure occurs when we quit or stop trying.

Edition 12: June 2005 View edition

End of Financial Year Tax Investment Schemes show synopsis

It is that time of year again and the tax office has recently released this checklist for you to consider before you invest your money in any scheme.

Co-Ownership of Leased Property show synopsis

In its GST Ruling 2004/06 released on 1 September 2004, the ATO has cleared the confusion caused by the status of "tax law partnerships" in relation to acquisitions and supplies made by these partnerships.

Be Aware of the Status of your Company Loans and Borrowings show synopsis

If you have lent your company money or borrowed money from your company. This article is a reminder of some of the important issues.

Edition 11: May 2005 View edition

Credit Card Consumer Loyalty Bonus Points show synopsis

The ATO has begun to draft its plan of attack on the consumer loyalty programs such as frequent flyer points and credit card bonus points.

Protect Yourself: A Director’s Personal Liability show synopsis

Are you a company director? Did you know that you could be held personally liable if your company has a withholding tax debt? Do you know what a '222 Notice' is? Read on to learn about section 222AOE of the Income Tax Assessment Act, and how to protect yourself from liability.

Edition 10: April 2005 View edition

Australian Tax Office Directing More Resources to Auditing show synopsis

Slowly but surely the ATO has begun it’s internal restructure by redirecting substantial resources away from tax law development and education towards it’s audit of compliance division of the department

Do you Understand the Child Care Rebate ? show synopsis

The good news is that the new rebate is backdated to 1 July 2004 !

Edition 9: March 2005 View edition

Debt Recovery & Good Credit Control show synopsis

Most businesses experience some problems getting paid on time by their customers. Good credit control helps to prevent this becoming a serious problem. Before steaming straight into conflict, give the situation some careful thought.

Do you have Shares in Companies that are in Administration ? show synopsis

There could be an opportunity to realise capital losses.

Edition 8: February 2005 View edition

Easier access to superannuation while remaining in the work force. show synopsis

Changes to Superannuation mean that you can supplement your income from working with superannuation payments.

Who really owns your company’s logo ? show synopsis

Is it your firm or the designer ?

Changing your Main Residential Address for Capital Gains Tax Purposes ? show synopsis

We occasionally have clients who are thinking of acquiring or who have acquired a second residential property enquiring as to whether they should change their main residence for tax purposes.

Edition 7: January 2005 View edition

Reducing Fringe Benefit Tax show synopsis

This article serves to remind you about some aspects associated with the Fringe Benefit Tax. This includes some ways you might want to consider to reduce FBT.

Conflict Costs show synopsis

Avoiding Disputes with Suppliers & Customers

Are you a Retiring Small Business Owner ? show synopsis

If so, you may be entitled to disregard some or all of your capital gains.

Edition 5: December 2004 View edition

Employers - are you aware of the changes to Superannuation to come into effect in 2005 ? show synopsis

As of July 1, 2005 your employees, in most cases, will have the right to choose their own superannuation fund.

Christmas Party Time Again - What will it Cost your Business ? show synopsis

Do you know that you can't can’t claim expenditure on functions such as your staff Christmas Party as a business deduction and that you may have to pay Fringe Benefits Tax (FBT).

Leading Your Team in Stressful Times show synopsis

While you can never predict the unexpected, you can develop strategies to cope with it.

Edition 4: November 2004 View edition

Due Diligence: What is all the fuss about ? show synopsis

Weak due diligence is rife in the corporate landscape. In a recent survey an amazing 33% of executives admitted they failed to walk away from a deal that they had nagging doubts about.

ATO Compliance Activities show synopsis

The Australian Taxation Office (ATO) is actively conducting audits in a number of areas. Below is an outline of the main areas the ATO is currently focusing on.

The Pros and Cons of Purchasing Business Premises show synopsis

We are often asked by clients on the merits of buying premises for their business. There is no straight forward answer and your decision will depend on a number of issues specific to your business.

Edition 3: October 2004 View edition

An Audit can be Beneficial show synopsis

An audit can be a proactive and beneficial experience for your business.

Operating Leases Increasing Heartache For Business show synopsis

The Australian Bureau of Statistics recently advised that lease Finance increased by 12.3% in February 2004. With the growth in this form of financing, some businesses may be placed under pressure.

Are you considered a de Facto Director ? show synopsis

Your actual role in a company’s affairs may be result in you being regarded as a de facto or shadow director under Corporations Act.

Edition 2: September 2004 View edition

The High Court Rules Against Split Loans show synopsis

The High Court have ruled in favour of the Tax Commissioner when it found that a couple who entered into a split loan facility did so for the dominant purpose of obtaining a tax benefit.

When is Travel and Accommodation Tax Deductible? show synopsis

Travel expenses from home to work are generally not an allowable deduction. Travelling expenses incurred in the course of the taxpayer’s work or in travelling between one place of business and another will be deductible. For example motor vehicle expenses, air, bus, train or taxi fares, car rental costs. Accommodation and meals on business trips away from home will also be deductible. Special substantiation requirements exist in order to make a successful travel tax claim.