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ATO warns property developers to declare income

The ATO has issued a media release warning property developers against using trusts to return the proceeds from property developments as capital gains instead of income. Deputy Commissioner Tim Dyce said, “ A growing number of property developers are using trusts to...

Who owns your Customers when an Employee leaves?

There will be times when an employee or contractor leaves your business and you find out later that several significant customers have followed them to their new employer or business. The key questions is what can you do to protect your business in these situations?...

Government Grants for SMEs from 1 July 2014

New Grant – Entrepreneurs’ Infrastructure Program The federal government has announced that it will phase in the commencement of the Entrepreneurs’ Infrastructure Program, progressively from 1 July 2014. The Entrepreneurs’ Infrastructure Program is designed to...

Government Grants For SMEs

Commercialisation Australia has grant funds available to assist companies with turnovers under $10 million, who have developed a new product or service, who wish to bring it to market and require assistance to do so. Commercialisation Australia has funding available...

SuperStream starting 1 July for many employers

Under ‘SuperStream’, employers will need to be able to make super contributions on behalf of their employees by submitting data and payments electronically. Equally, all superannuation funds, including SMSFs, will need to be able to receive contributions...

SMSF Trustees – Duties, Rights and Legal Matters

In this article we consider the role of the superannuation Trustee in greater detail for self-managed super funds (SMSF’s) by considering their main rights and responsibilities, and the litigious consequences parties need to be wary of. This is relevant as Trustee’s...