A transition to retirement pension is a great way to supplement your income if you are moving from full-time employment to retirement. The benefit of this pension is that it allows you to supplement your income to maintain your lifestyle if you have chosen to reduce your working hours. It may also allow you to

In a post global financial crisis world, with low returns from investments and superannuation, many people are worried about their savings lasting through retirement. This has made investors even more vulnerable to fraud. Organisers of these scams are targeting any person with relatively large amounts of money to invest such as retirees or people nearing

The provision of a Christmas party to an employee may be a minor benefit and exempt from fringe benefits tax (FBT) if the cost of the party is less than $300 per employee and certain conditions are met. The benefit provided to an associate of the employee (ie partners and families if they attend) may

Choosing the right accountant for your small business shouldn’t be left up to chance. The Professional Association of Small Business Accountants unites some of the best and brightest small business accounting, payroll, and financial advisory experts in the country with one goal in mind, customer satisfaction. Organizations often need a way to keep score when

The Government has introduced a new super payment called the Low Income Super Contribution (LISC). The LISC payment took effect from 1 July 2012. Those eligible must have an adjusted taxable income not exceeding $37,000 of which 10% or more is derived from business or employment, and have made concessional contributions to a complying super

Accounting and finance are considered to be the most crucial and complicated part of any business. With such a high number of transactions taking place on the daily basis and so much money to control, it gets difficult for a single authority to perform all the tasks with ease and comfort. In addition, the chances

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

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

Tax planning for your acquisition can be a lot more complicated that what it looks like. Whether you are an employee, a baron or a high net wealth individual, tax planning is an important part of getting the legal clearance of your income and property. Silver & Young Chartered Accountants is predominantly an accounting firm

Tax planning for your acquisition can be a lot more complicated that what it looks like. Whether you are an employee, a baron or a high net wealth individual, tax planning is an important part of getting the legal clearance of your income and property. Silver & Young Chartered Accountants is predominantly an accounting firm

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

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