It was significant that when Big Bash master blaster Chris Lynn whacked his good mate Shaun Tait for the biggest six in the tournament’s history last December, he barely smiled.
The sellout crowd at the Gabba went berserk, and the commentary team searched for superlatives as they tried to calculate just how far the ball had travelled.
But Lynn’s expression remained blank, even stony.
Turning a Negative Into a Positive
Injuries are part and parcel of any professional athlete’s career.
They can come at the most inopportune time – Olympians for instance, snapping a bone or tearing a muscle just months out from “the Games” – four years down the drain, just like that.
How an athlete handles that adversity, often determines their future prospects, once they’ve walked that long and potentially lonely road to recovery.
For Wallaby prop James Slipper, the serious Achilles injury that he suffered at the beginning of 2017, shaped as the most bitter of blows – a waste of an entire season.
It’s tax time again. What can you claim to reduce your tax?
Please take just 2 minutes to read this blog article. We’ll explain:
- Deductions you can claim
- The importance of a fantastic tax accountant
- The “tax trap” you need to avoid
- Links to more information about specific deductions
Not a lot of Science in Lote Tuqiri’s Formula for Success
“I fear sports science has high-jacked the world of professional sport”
Keep it simple stupid. He didn’t exactly say it in those words, but he certainly implied it!
The news printed the day after the federal budget read like a Dire Straits song, Money for Nothing. According to the media, retail pharmacies will be better off to the tune of $43,000 for essentially doing nothing.
Not only is the amount reported incorrect, but the media failed to report the full story.
The federal budget includes $200M of financial support to assist retail pharmacies. This is not money for nothing and won’t be paid as a lump sum. The reason that $200M is available is that the actual number of scripts dispensed by pharmacies for the 2016 financial year was 2.14% lower than
Do you know the difference between independent contractors vs employees?
A recent case involving a cleaning company shows that the inability to distinguish between the two can result in liquidation of your company and even bankruptcy.
Here’s what happened.
The cleaning company operated by employing several contractors. However, after terminating one of their ‘contractors’, the workers claimed that they were in fact an employee. Therefore the worker would be entitled to benefits such as leave, superannuation and notice in lieu. The company directors immediately disputed this claim, under the belief that as the workers issued invoiced under their ABN, they were not an employer.
That’s when the ATO got involved. The alleged ‘contractor’ reached out to the ATO with their case, which resulted in a superannuation audit of the company. This audit that would in fact clarify the difference between independent contractors vs employees.
With reference to the Superannuation Guarantee (Administration) Act 1992, the ATO deemed that all the company’s workers were in fact ‘employees’, on the basis that they worked solely for their company. This resulted in the issuance of a $200,000 bill for unpaid superannuation (incorporating penalties and interest). Being unable to pay this bill, the directors [Read more…]
Do you have your tax debts under control?
From 1 July 2017, a new tax measure will come into play for small businesses, and we’re here to help prepare you for this tax change.
Businesses that haven’t engaged with the Australian Taxation Office (ATO) to get their tax debts under control could have their tax debt information disclosed to credit reporting agencies by the ATO.
Initially, the ATO will be applying this new disclosure measure to businesses with a tax debt greater than $10,000 and is in default (at least 90 days overdue). If your tax debt is disclosed by the ATO, your credit rating will be adversely affected for the next 5 years.
What do you need to do?
If you have a tax debt that is 90 days or more overdue, you need to secure a payment arrangement with the ATO before 30 June 2017, regardless of how big or small the tax debt is. [Read more…]
What you don’t know about Personal Property Securities Register
If your business has ever been involved in the leasing of property, a recent court case has proved that a simple clerical error on something such as a Personal Property Securities Register could cost you millions.
In a dispute between OneSteel Manufacturing Pty Ltd and Alleasing Pty Ltd, a seemingly routine leasing of equipment and parts from one company to another has resulted in Alleasing losing legal rights to $23million worth of assets. The clear winner in this scenario, the Voluntary Administrators of OneSteel Manufacturing, took advantage of an error made by Alleasing in which a Personal Property Securities Register (PPSR) registration was incorrectly completed, resulting in the forfeiture of $23million worth of assets.
The simplicity of the case is frightening. [Read more…]
There are 5 key things all business owners must consider right now. Some of them are brilliant wealth creation ideas. Please read on…
30 June will be here before we know it. Let us help you get the most out of the upcoming months.
Too often, we end up suffering because we have procrastinated and not made a positive decision to do something. If we all leave your tax planning until the end of May and early June, quite frankly there may not be enough time to do anything significant to legally reduce your tax.
So, for 2017, our invitation to you is to start now with your tax planning.