Superannuation update August 2019

By Sarah Parsons on 19/08/19 - Mins to read: 2 minutes

With the federal election well and truly passed and parliamentary sittings back on, you’re probably wondering on the status of the superannuation changes that were proposed in the Federal Budget more than a year ago, which appeared to disappear from sight. While many of these Bills lapsed as a result...
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Positive Full Federal Court ruling for Companies accessing the Australian R&D Tax Incentive Program

By William Buck on 19/08/19 - Mins to read: 2 minutes

Companies accessing the Australian Research and Development (R&D) Tax Incentive program can now do so with more confidence after a significant Federal Court ruling rejected The Administrative Appeals tribunals (AAT) somewhat narrow interpretation of what constitutes a ‘core R&D activity’ under R&D tax law. Based on our previous experience with...
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Is your Financial Reporting up to standard?

By William Buck on 19/08/19 - Mins to read: 2 minutes

The William Buck Financial Reporting series has wrapped up for the year, providing finance professionals with the latest insights to help their business. Covering various topics including changes in accounting standards, ATO’s tax insights and the latest trends in merger and acquisitions. Attendees heard first hand from William Buck’s industry...
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R&D tax incentive – what software companies must do from here

By William Buck on 19/08/19 - Mins to read: 2 minutes

How to meet the rules and minimise risk Since late 2018, one of the biggest talking points in the Australian startup community has been the perceived ‘crackdown’ on software R&D tax incentive claims. Seemingly overnight, the key government incentive for encouraging technical advancements has become a question mark for...
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Seasonal holiday homes on ATO radar this tax season

By William Buck on 19/08/19 - Mins to read: 2 minutes

Commentary from Craig Barry, Director of Tax Services at William Buck Accountants and Advisors Increased sophistication of data-matching means holiday houses rented on common share economy sites such as Stayz and Airbnb, that don’t derive income, will be on the ATO’s radar this tax season. The ATO are interested in...
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Investment property deduction mistakes at tax time

By Amy Kitson on 19/08/19 - Mins to read: 2 minutes

The ATO are cracking down on investment property deductions this tax season. Here’s two classic mistakes and how to avoid them. The ATO reported last week that 90 percent of property tax claims had an error. With $47 billion being claimed in rental deductions in 2017-18 year, the ATO are...
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