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ATO data matching real property transactions

post image The ATO has issued a notice announcing that it will be acquiring details of real property transactions for the period 20 September 1985 to 30 June 2017 from various state revenue offices and tenancy boards.  
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9 technology trends to shake up your business

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Technology changes quickly, and our working patterns often change just as quickly in order to adapt. But the next 10 years will bring changes that are even more profound, as separate lines of scientific endeavours converge to unleash even more bizarre products and services onto the world.

 

Many of these future techs are visible today, and some have been a long time coming. Others are yet to be dreamt up. But as the pace of change accelerates, the only thing we can be sure of is that the way we do business in the future will be very different from today.

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Government rejects SMSF borrowing ban recommendation

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Government rejects SMSF borrowing ban recommendation

 

Direct borrowings by superannuation funds via limited recourse borrowing arrangements (LRBAs) are safe (at least for the next three years), following the Government's decision to reject the Murray Financial System Inquiry recommendation to ban or restrict LRBAs.

 

 

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How much tax do tradies pay?

post image Most tradies declare 25 per cent  to 35 per cent of turnover – most is cash and tax free," was just one reader complaint about research published by MySmallBusiness last week on tradies' earnings.
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Tax debt release application refused

post image TIP: Serious hardship exists when payment of a tax debt would leave you unable to provide for basic living necessities for yourself and dependants
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Preparing Your Business for Sale TUE, 24/11/2015 AT 6:30 PM

post image If you are thinking of selling your business within the next one to two years, you need to be prepared for the sale to ensure you get the best possible price.
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10 WAYS TO GIVE YOUR BUSINESS THE BEST CHANCE AT LONGEVITY

post image 10 WAYS TO GIVE YOUR BUSINESS THE BEST CHANCE AT LONGEVITY

Here are 10 pointers geared to help ordinary people build extraordinary organisations.

1. Consistently innovate
2. Embrace change
While the concept of “embracing change” is particularly significant in the technology sector, it carries weight in many industries. It may be a tough sell to staff (at all levels), but consistently measuring, reflecting, learning and adjusting allows a small business to grow.......

3. Set a fearless goal
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SMSFs in pension phase need to exercise care

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The ATO is of the view that most trustees of self managed super funds (SMSFs) do the right thing. However, it has identified a number of issues concerning SMSFs in pension phase, noting the growing number of people expected to receive a pension in the next 10 years.

 

The following gives a snapshot of some key issues identified by the ATO:

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Bishop needn’t have come chopper a cropper: Six top tips for claiming travel expenses

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Ross Fastuca, co-founder of travel technology company Locomote, told SmartCompany it’s unlikely a small business could claim the sort of expenses that Bishop did.

 

Here are Fastuca’s six tips for small businesses claiming travel expenses.

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“Nomad” was still resident of Australia; $300,000 tax bill

An individual has been unsuccessful before the AAT in arguing that he had “let go” of Australia in 1999 to pursue his “nomadic” working life abroad and that his base of operations was in the United Kingdom.

 
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