Australian’s working offshore has presented some challenges since the last budget. In the last Federal Budget, the government made changes to s. 23AG which used to exempt the employment income of Australian tax residents working offshore for more than 90 days from Australian income tax. That income is now taxable – albeit with a foreign [...]
Monthly article archives: December 2010
Subdividing the Family Home
Do you need to pay capital gains tax when you subdivide your family home from one block into two or more blocks ? Subdividing an original block into two or more blocks does not , in and of itself, lead to a capital gains tax event. It is considered for capital gains tax purposes that [...]
SEO and Small Business
SEO and Small Business Today’s consumers are the internet generation and it’s a brave – or foolhardy – boss who decides that their business can do without a website, thank you very much. Even the most technophobic business owner of the smallest home-run jam-making company with a staff of one, knows that for their business [...]
Living Away from Home Allowance – Rent
A living-away-from-home allowance exists where it is reasonable to conclude from all the surrounding circumstances that some or all of the allowance is in the nature of compensation to the employee for additional expenses incurred, or additional expenses incurred and other disadvantages suffered, because the employee is required to live away from his or her [...]
Expat Taxation – Australia
Taxation for expats having moved from overseas to Australia is a complex area but also provides some fantastic tax planning opportunties. Omega Partners Accountants in Sydney have dealt with a number of expat issues and can help with yours and for your organisation in ensuring that your expats taxation affairs are managed as effectively as [...]
Christmas Parties and the Tax Man
If you’re planning your Christmas budget for your team and your clients there are a couple of things you need to know to keep the Christmas tax scrooge from ruining your Christmas celebrations. We take a look at what you can and can’t deduct and what is and isn’t likely to incur Fringe Benefits Tax [...]
Self Education Expenses
The High Court has released its determination in Commissioner of Taxation v Anstis in regards to deducting self-education expenses against Youth Allowance income. The Court held that the taxpayer’s self-education expenses were incurred in gaining or producing her assessable Youth Allowance income and were deductible even though the taxpayer was not employed in a relevant [...]
Customer Relationship Management
Customer Relationship Management Businesses exist to serve customers. Without them, your doors will not remain open for long. Even the bulk of government agencies have discovered the necessity of keeping clients content, if not happy. If you are operating a small business, you probably cannot afford to alienate potential customers or have them spread negative [...]
Key Performance Indicators
Key Performance Indicators and the Balanced Scorecard In a competitive global environment, companies continually strive to improve sales, efficiency and profitability through substantial investments in the strategic planning process. The continued improvement in the accuracy and timeliness of data has resulted in the development of sophisticated management and tracking systems. Key Performance Indicators and the [...]
Staying Fit and Running a Business
The mental and physical strain of being responsible for an entire organization would drain even the energizer bunny. Certainly, hitting the gym at the end of another day of overtime isn’t likely to appeal to many busy executives and who has the time to eat healthily? Running a business can be so exhausting that it [...]