Ever since Caesar ignored warnings about the Ides of March, things have tended to go wrong for a lot of people about the middle of that month. Not of course as seriously wrong as they did for Caesar, but bad enough to be life changing for many business owners bankrupted around that time each year. Read More
Amendments to the Fair Work Act now provide added protection for vulnerable workers and include penalties or fines for “serious” breaches of workplace law. Business owners and their advisors should be aware of these changes to the Act. Read More
SMEs must do a head count of staff on 1st April to determine whether the business will have to use Single Touch Payroll (STP) systems from July. If you’re the owner and/or operator of a business with 20 or more employees and haven’t received notice of this requirement from the Australian Taxation Office (ATO), then you need to read this article. Read More
The Treasury Laws Amendment (2017 Enterprise Incentives No 2) Bill 2017 is apply named. It provides directors of companies in financial difficulty with powerful incentives to be proactive in both their personal interests and the best interests of their companies. Macks Advisory has long been urging directors to face the consequences of impending insolvency sooner rather than later, but never has the law offered better incentives than now. Read More
According to a You Gov Galaxy Poll, almost half Australia’s Millennials – people born primarily between 1980 and 2000 – want to buy homes, believing 2018 is a good year for them to be doing this. However, a Slater and Gordon Lawyers survey of Generation Ys wanting to be homeowners – that is the earlier generation whose birthdays overlap the millenials – reveals 26% of them are relying on a family inheritance to have a hope of buying a home. Read More
The Australian Tax Office (ATO) can issue you, as a company director, with a Director Penalty Notice (DPN) to recover your company’s unpaid PAYG tax or superannuation contributions. You are personally liable for the amount of money claimed in the Notice unless the debt is paid, or unless the company is placed into voluntary administration or liquidation within 21 days of the Notice being issued. Therefore, what is significant to you in this situation? Read More
