On the back of a $1.4bn NT Government infrastructure package and the Territory’s share of a $5bn development fund across the deep north announced in the latest Federal Budget, building and construction businesses generally see the future as a glass half full. Read More
The advent of so-called “stronger super” on January 1, which in many respects is seen as a good thing by people associated with SMSFs and insolvencies, can also be problematic in the nexus between such funds and banks. This is seen in a recent court case that demonstrates an SMSF’s obligation to operate soundly in return for the contributions it receives. Read More
Many a business owner encountered by Macks Advisory in turnaround or restructuring projects got into financial difficulty believing that hiring more staff would necessarily boost business. SME’s are often under resourced. Let’s consider this in more detail. Read More
In this low interest rate environment, the ability of self-managed super funds (SMSFs) to generate returns sufficient to maintain lifestyle expectations is paramount. People with SMSFs, plus accountants and financial advisors who may have missed a quiet but significant about-face by the ATO just a few days before Christmas, could benefit by reading on. Read More
The Tax Office will act more swiftly to recover unpaid tax and initiate bankruptcy procedures as outstanding annual debt climbs beyond $20 billion. Read More
Although rules for extinguishing penalties arising from director penalty notices (DPNs) were changed on 30 June 2012, Macks Advisory is amazed by directors’ failure to take advantage of this. Some 3,000 directors who might have been able to extinguish penalties under the old rules have been snared by new deadlines. Read More
