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Audit Insurance Vs Accounting Insurance

ATO AUDIT COSTS ARE NOT ALWAYS COVERED IN ACCOUNTING INSURANCE Knox Taxation & Business Advisory, in Boronia, want to ask you some very important questions –  1.  Have you checked your Accounting Insurance Policy lately? We know you’ll have received your Accounting Insurance Policy (or are about to) for the new Financial Year.  Where you…

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New Federal Budget 2017-2018 Review Information From Knox Tax in Boronia

The 2017-2018 Federal Budget is in and you’re all wondering what to make of it, we’re sure.  But, here at Knox Taxation & Business Advisory in Boronia, we’re available to help you navigate through what the new Federal Budget directives are.  Do take the time to read through the following summary and don’t hesitate to…

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Fair Work Commission Penalty Rates Update

There’s been a lot of publicity about changes to the Hospitality and Retail Industry Penalty Rates, attributed to decisions made by the Fair Work Commission in late February, 2017. We, at Knox Taxation & Business Advisory, are pleased to bring you the latest information from our HR Specialist, Sheena. Fair Work Commission Penalty Rates Decision…

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Backpacker Tax 15% ATO Deadline – 31st January

Contact us at Knox Taxation & Business Advisory on 9762 7344  …  If you feel this might apply to you, but you haven’t done anything about it yet! The ATO has put the word out to all current Backpacker Employers (or employers of working holiday makers) that the new tax rate of 15% became effective…

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ATO Scam Advice

Don’t let your business turn to Spam (as in minced ham)! At Knox Taxation & Business Advisory, we’re always watching the ATO website for information to help our clients, and here’s another great warning to help you avoid being thwarted by unscrupulous beings! Spotting a scam? The ATO reports that they “continue to see instances of…

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SMSF AUDITS – Advice from Knox Taxation and Business Advisory

Superannuation Charges – When is cheap really cheap? And no… it has nothing to do with chickens.  It’s all about the fact that SMSF Auditors have come under scrutiny from the ATO. There’s always news a-plenty at Knox Taxation and Business Advisory, in Boronia. We scour the universe to ensure you know what’s going on,…

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A Weighty Issue

Obesity in the workplace isn’t a topic that gets talked about out loud very often. But with the statistics indicating that Australians are getting bigger, it is well worth covering some issues around this. First of all, obesity will be covered as a protected attribute under the Equal Opportunity Act (Vic) 2010 under the heading…

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Hired a “contractor” who is really an employee? There are consequences.

Written on Wednesday, 21 October 2015 by Steve Burnham. From the website Taxpayers Australia. If your business is looking to put on more staff, first of all: congratulations. But secondly, a warning. The engagement status of workers is an important distinction – whether they are employees or independent contractors – and has consequences that can get…

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2015/16 Federal Budget

Download the NTAA Federal Budget (PDF) This analysis includes: Changes effective Budget Night – 7.30pm (AEST) 12 May 2015 Changes effective 1 July 2015 (i.e., 2015/16 income year) Changes effective 1 July 2016 (i.e., 2016/17 income year) FBT announcements Other budget announcements

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The ATO are becoming more strict on under-reported income

ATO new credit and debit card matching project. Have you disclosed all of your income correctly?  Don’t wait until 30th June to rectify any anomalies. Contractors and Sub-contractors are being targeted in a new crackdown by the ATO, and they will be cross-matching businesses and payments between those of whom have worked for one another. The…

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