The ACCC has issued a warning to businesses charging excessive credit card fees. One large merchant has already been issued with four infringement notices and has paid $43,200 in penalties. The new rules, which came into effect from 1 September 2017, prevent merchants from charging more than the true cost of the transaction. As a […]
read more »
As most people are now aware, Uber drivers need to register for GST by the time they complete their first drive. What many are unaware of however is that the GST registration applies to any other businesses that they run as a sole trader. Take the example of someone who has a micro business that […]
read more »
Australia has followed the international trend of penalising foreign owners of Australian residential property who keep their property vacant for extended periods of time. Last month Parliament approved legislation that imposes an annual vacancy fee on foreign owners of residential real estate if the property is not occupied or genuinely available on the rental market […]
read more »
Why ‘property flipping’ is the next ATO target The tax law does not allow you to ‘flip’ a property tax-free even if you are living in it. Most people think that they can move in to a property, renovate it, and then sell it without paying tax. The main residence exemption – the exemption that […]
read more »
A light-hearted look at the complexity of Australian taxation laws. Dear Santa, Thank you for the opportunity to provide tax advice for your operation. We are pleased you have initiated this advice as the Australian Taxation Office (ATO) is looking closely at any business or individual that operates within Australia but has significant transactions or […]
read more »