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
The Personal Property Securities Register (PPSR) is the single, national register of security interests in personal property in Australia. As a mechanism to ensure the effective operation of the PPSR, the PPSA contains transitional provisions. The final transition period ended on the 31st of January 2017, (known as the effective migrated registration provision). Read More
House prices generally have jumped about five times more than headlined inflation that’s risen 0.8% annually over the past four years. If dwelling prices were factored into inflation figures - and a strong argument can be made they should be - then it’s obvious young Australians’ have in effect been suffering a cut in real wages denying most of them any chance of owning their own homes. Read More
