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From the monthly archives: August 2015

We are pleased to present below all posts archived in 'August 2015'. If you still can't find what you are looking for, try using the search box.

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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Help! I want to start my own business but I don’t know if it’s the right time

Dear Aunty B, I’ve always dreamed of owning my own business. There is something so appealing about walking out the door from my job in someone else’s company and working for myself for a change. And I know exactly what I would do: I want to create a catering company that makes and delivers healthy lunches to busy office workers. But I’ve had this dream for years and I have never quite brought myself to the point of being able to make it happen. What if it doesn’t work out? What if I give up my current job, that pays reasonably well, only to fall flat on my face? And I don’t even come from a foodie background so I don’t even know that I would be capable of running this kind of business. How will I know when it’s the right time to start a business? Annie,Adelaide Dear Annie, The truth is there is never a perfect time to start a new business. But I have some good news for you: there are ways to get through this indecision. It sounds to me like you ar ...
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Uber doesn't fear the ATO

There's is a very simple reason Uber, the highly popular, highly controversial app enabled ride sharing company, is prepared to so brazenly challenge the Australian Tax Office.  It has the financial resources to do so. Just a few hours after news broke that Uber was taking legal action against the Australian Tax Office to prevent drivers from being forced to pay GST, the company closed another funding round in the US that values it $US51 billion. This is one of the biggest valuations achieved by a privately held, venture capital backed startup (if Uber, which has 3,500 employees around the world now can still be called a startup) in corporate history. "Unicorn", the term applied to tech startup companies that achieve a valuation of $US1 billion or more, is probably a better description. The funding round also means Uber has now raised $US6.5 billion ($8.9 billion) from investors, which include some of the most powerful technology companies in the world, including Google, China's Baidu and now Microso ...
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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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