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Importance of Small and Large Business Accountants

If you’re planning to start a small business, it is important that you understand the business taxation system. Tax accountants can help you with the taxation aspect of setting up your business. It’s important that you file your tax returns on time and accurately to remain in compliance and avoid costly penalties. Tax accountants evaluate […]

Changes To Phoenix Legislation

The Government has drafted The Corporation’s Amendment (Similar Names) Bill 2012 to curb phoenix activity in Australia. Phoenix activity involves the intentional transfer of assets by a director of an indebted company at a price below market value to a new company, of which they are also a director. The indebted company is then placed […]

Amendments To Tax Law

Amendments to tax laws by the Australian Taxation Office (ATO) aim to protect employees’ entitlements by making directors personally liable for any unpaid superannuation. Currently employees of failed companies may seek to recover their entitlements through the Government’s General Employee Entitlements and Redundancy Scheme (GEERS). However this does not include outstanding superannuation and is not […]

Carbon Tax Price Increases

Making False Claims The carbon tax has been in place for a few months and businesses are beginning to more accurately estimate the effect it is having on their costs. Before blaming the carbon tax for a price increase however, business owners need to consider the Competition and Consumer Act 2010 (Cwlth). The Act states […]

Silver & Young Small Business Accountants in Moorebank

As a small business owner you require an accountant who can manage all financial statements and reports. Silver & Young has the best small business accountants in Moorebank, Wetherill Park and in Liverpool. These professionals will provide supports as and when required, without the need for an annual subscription. We will ensure that consumer’s enterprise […]

Small Business Decpreciation

2012 Changes To Small Business Depreciation Rules Since 1 July 2012 there has beeen significant changes to the small business depreciation rules. The amendments will apply to small business entities as defined in Section 328-110 of the Income Tax Assessment Act 1997 (Cwlth) that have an aggregated turnover of less than $2m for an income […]

Non-Compliance on Motor Vehicles

All motor vehicles sold, transferred or newly registered in the 2010-11 financial year with a market value of $10,000 or greater face scrutiny from the ATO. The ATO has obtained data from the State and Territory registering bodies (e.g. Vic Roads, RTA (NSW), etc.) to identify: Taxpayers whose expenditure is in excess of their reported […]

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