Employee share schemes – A dividend equivalent payment may be assessable to an employee as remuneration

A dividend equivalent payment is assessable to you as remuneration (and therefore ordinary income) under section 6-5 when you receive such a payment for, or in respect of, services you provide as an employee, or similarly, where the payment has a sufficient connection with your employment.   Examples Example 1 – dividend equivalent payment for, […]

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Tax on income from the sharing economy

Sharing economy activity tends to increase during the holiday season. Some of these activities include: providing ride-sourcing services for a fare completing jobs or errands for payment renting out a room or a whole house or unit renting out a vehicle or a car parking space. The tax obligations associated with each will vary depending […]

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What attracts ATO attention?

As per ATO’s website, the following behaviours and characteristics may attract their attention: tax or economic performance is not comparable to similar businesses low transparency of your tax affairs large, one-off or unusual transactions, including transfer or shifting of wealth a history of aggressive tax planning tax outcomes inconsistent with the intent of tax law […]

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Petroleum resource rent tax

Petroleum resource rent tax: character of expenditure incurred in relation to abandonment, decommissioning and rehabilitation activities undertaken on a part of a petroleum project Summary – what this ruling is about? 1. This ruling is about the characterisation of abandonment, decommissioning and rehabilitation expenditure (ADRE) incurred on a part of a petroleum project prior to […]

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New job vacancy

Trainee – Australian Accounting Job Description Analyst will be performing day to day online accounting services to clients in Australia. His/Her roles and responsibilities would include; Ensure daily, weekly and monthly deliverable are addressed as per client requirement in Services Agreements Responds to questions from customers and internal staff members regarding area activities. Maintains daily, […]

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How do I select the right bookkeeper for my business?

Bookkeepers manage the most delicate and important component of accounting. Any error within bookkeeping may come with a cause and effect upon accounting. This is actually the reason why it’s essential that you select your bookkeepers thoroughly. Understanding how to choose the right bookkeeper is very important for the success of one’s business. Therefore how […]

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Bookkeeping at $50 per month

Would you like us to show you how we maintain your books of accounts every day, without you having to spend too much & without you risking accuracy of the numbers?

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