Business

Thanks to the diversity of our clients, we have the pleasure of arranging equipment finance for all sorts of businesses. From the specialised like a printer’s guillotine, a farmer’s tractor and an arborist’s mulcher to the more common including; passenger cars, light or heavy commercial vehicles, dental, medical or veterinary equipment, construction equipment, plant and machinery, computer technology. Whether you... Read more

With the end of the financial year fast approaching, now is an appropriate time for tax planning. Here we highlight the most relevant strategies for our clients. For further information and advice specific to your situation please contact us as soon as possible. For Individuals 1. Capital Gains Tax (CGT): Capital gains can be offset against losses, so now is... Read more

This update comes to you the morning after Joe Hockey delivered the Abbott Government’s first Federal Budget. By last night most of the headline issues had been telegraphed in leaks to the media over recent days.  Here is a link to the detailed budget bulletin released by the Institute of Chartered Accountants and running for 56 pages. Here I highlight... Read more

Under recent changes to the law, deposits can be deemed unclaimed (dormant accounts) if a transaction has not been made on an account for three years or more, down from seven years previously. Unclaimed funds are paid by banking institutions to ASIC, then the money is transferred to the Commonwealth of Australia Consolidated Revenue Fund. You can reclaim your money from... Read more

Most couples who purchase a home together, traditionally would buy the home as joint tenants. This means that if one person dies, their interest in the property automatically moves to the surviving spouse. However, as professional negligence lawsuits have become commonplace, particularly against doctors, vets, accountants and even solicitors, professionals would be wise to consider purchasing their home as tenants-in-common.... Read more

Businesses that increase the number of employees in NSW could be eligible for a $5,000 payroll tax rebate, under the “Jobs Action Plan” which is designed to give businesses an incentive to employ new workers and expand their enterprises. To be eligible for the rebate, the new position can be full-time or part-time, where the role is performed mainly in... Read more

One would hardly think an election is to be held in September given last night’s Federal Budget and its focus on cost cutting, tightening of taxation collections and scaling back on incentives. Even with this fiscally austere approach the government is still forecasting a deficit in 2013/14 of $18b. The Australian economy’s rapid contraction and consequent fall in tax revenue... Read more

A number of tax changes aimed at reducing complexity, cutting red tape and providing tax relief for small businesses have been introduced this year. Following is an outline of the changes relevant for small businesses in this financial year. From the 2012-13 income year, small business can: immediately write-off of all assets valued at under $6,500 (up from $1,000 previously);... Read more

Contrary to popular belief, business names, company names, domain names and trademarks all have very different levels of protection.  In this article, we identify some of the common misconceptions.Neither business names nor company names grant any proprietary (ownership) rights like those granted by a trademark registration. By the same token, neither business names, company names, nor domain names, offer any... Read more

Tax Alert 1 Loss ‘Carry Back’ Provisions: Progress Update – The Government’s proposed  loss ‘carry back’ measure was introduced into Parliament in February.These provisions seek to allow ‘carry back’ of losses in the current financial year to offset prior year profits, to obtain a refund of tax previously paid.The intention of this measure is to assist corporate businesses facing pressures from... Read more