Tax
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Tax news and insights for Australia’s small and medium business owners and entrepreneurs. Read the latest tax news, trends and features and entrepreneur interviews about the tax industry. Or search for tax on SmartCompany. |
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Trends
iPhone App of the Week: My Tax Return Patrick Stafford With tax time now upon us, business owners, entrepreneurs and employees alike are getting their tax affairs in order. | Thursday, 28 July 2011 |
ATO scales back computer system Jessica Goodear The ATO has scaled back its new $820 million supercomputer system after only five months because of over 17,000 public complaints and the delay of one million tax returns. | Monday, 14 June 2010 |
ATO bungle makes computer font size too small Patrick Stafford The Australian Taxation Office has been criticised recently for its IT bungle, with a computer mishap causing thousands of tax returns to be given out late. But a new problem has emerged - ATO computers have fonts that are too small. | Tuesday, 27 April 2010 |
Game developers to receive R&D tax concessions Patrick Stafford Video game developers may receive tax concessions under new proposals being considered by the Federal Government for research and development. | Wednesday, 3 February 2010 |
Google fears new French tax Patrick Stafford Internet giant Google now fears a new tax which could be imposed by the French Government on online advertising revenue, in order to help struggling artists. | Sunday, 10 January 2010 |
Windows 7 release could spark tech buying spree by SMEs Amber Plum SMEs are expected to snatch up Windows 7 within months of its release, to take advantage of the Federal Government small business tax rebate. | Tuesday, 8 September 2009 |
Charitable donations on the rise Patrick Stafford The number of gifts claimed as tax deductions for donations totalled $1.8 million in 2007, a massive 21.1% increase. | Wednesday, 29 April 2009 |
New consumer advice site launched Patrick Stafford We might be hurtling towards a recession, but it’s good to see a few hardy souls are still willing to launch businesses. | Monday, 2 February 2009 |
The key to business success is written in the stars Patrick Stafford Businesses are doing everything they can to set help their customers during the downturn – including turning to the heavens. | Sunday, 1 February 2009 |
Subway named fastest-growing franchise in the US Entrepeneur.com has released its annual Franchise 500 rankings and this year there is a big surprise – sandwich chain Subway has overtaken McDonald’s as the fastest-growing franchise of the year. | Tuesday, 23 December 2008 |
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News
ATO warns businesses big and small to fess up on tax problems Patrick Stafford While the ATO has this morning warned big businesses to approach the agency before private tax problems spin out of control, experts say the commissioner is speaking squarely to small and medium-sized enterprises as well. | Monday, 16 January 2012 |
ATO reaches global agreement to chase down tax debts, still seeking TPG on Myer sale Patrick Stafford The Australian Taxation Office has reaffirmed its commitment to tracking down tax dodgers after reaching an agreement with other major economies that will help the Government track down offshore debt. | Monday, 16 January 2012 |
Welfare lobby wants crackdown on private trusts, golden handshakes and CGT concessions for small business Madeleine Heffernan Capital gains tax concessions for small business along with a clampdown on the taxation of private trusts and lump sum termination payments will help return the budget to surplus and improve the fairness of the tax system, according to a key welfare lobby. | Thursday, 12 January 2012 |
Retailers and builders lead collapse numbers to record high as liquidators brace for another bad year Madeleine Heffernan Liquidators are expecting another shocking year for corporate insolvencies, after small businesses – particularly in retail and building - underpinned another record year for collapses. | Wednesday, 11 January 2012 |
ATO targets contractors with letters as wider crackdown gathers pace Madeleine Heffernan The ATO will this month contact contractors it believes might have wrongly assessed themselves as conducting a personal services business, as part of a broader crackdown on contractors. | Wednesday, 4 January 2012 |
Tax chief and insolvency experts expect rise in company collapses Myriam Robin Tax commissioner Michael D’Ascenzo has foreshadowed the rise in insolvencies this year, reportedly telling public service union officials that the agency would need to beef up its resourcing in debt collection areas. | Wednesday, 4 January 2012 |
ACTU calls for “equalisation” of super tax rates, but tax experts wary of further tinkering Madeleine Heffernan Australia's leading union is calling for wholesale changes to Australia's superannuation system. | Tuesday, 3 January 2012 |
New draft legislation makes phoenix operators personally liable for company debt Patrick Stafford New legislation designed to make directors of phoenix companies personally liable for any tax debts incurred has been praised as a step in the right direction. | Wednesday, 21 December 2011 |
Businesses to receive GST refunds faster after ATO denied appeal to High Court Patrick Stafford SMEs will receive GST refunds faster now the Tax Office has been refused special leave by the High Court in a case that saw a supplier of consumer products argue that it should be entitled to refunds immediately. | Thursday, 15 December 2011 |
ATO cracks down on wealthy boat owners, more data-matching tipped Patrick Stafford The taxman is cracking down on boat owners, with the ATO undergoing a new data-matching campaign to identify more than 110,000 people who own vessels worth more than $25,000. | Tuesday, 13 December 2011 |
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Features
Property valuations – get them right Terry Hayes Property valuations (and valuations of equipment and other assets for that matter) are relevant in many tax contexts. Getting a valuation wrong can mean more tax to pay. BY TERRY HAYES. | Thursday, 2 February 2012 |
DIY super funds and marital disharmony Terry Hayes The flexibility and control SMSFs bring have prompted many married couples to set them up. However, having these funds in the family doesn't always work out. | Thursday, 19 January 2012 |
Your sector-by-sector guide to 2012 Madeleine Heffernan The only certainty is uncertainty: chances are the Australian economy is headed for another topsy-turvy year. | Tuesday, 17 January 2012 |
Another year and capital gains still causes problems Terry Hayes Capital gains tax has been around for over 25 years now but it continues to bedevil SMEs. | Wednesday, 14 December 2011 |
Taxing the Tax Man – how the ATO use of industry benchmarks will be investigated Terry Hayes The inquiry into the ATO's sometimes controversial use of benchmarking should be closely monitored by SMEs. | Wednesday, 7 December 2011 |
Contract outworkers to be treated as employees Terry Hayes New Fair Work legislation will have direct consequences for SMEs and their contract outworkers in the textile, clothing and footwear industries. | Thursday, 1 December 2011 |
Employee versus contractor: Beware the traps Terry Hayes The Fair Work Ombudsman has released the findings into sham contracting in the cleaning services, hair and beauty, and call centre industries. And there were a number of problems. | Wednesday, 16 November 2011 |
Faster asset write-offs for SMEs – coming soon Terry Hayes The new asset write-off legislation sounds good, but there is a small catch – the changes are dependent on the passage of the carbon tax legislation (now done) and the mining tax (not yet done). | Thursday, 10 November 2011 |
How good records can overcome tax problems Terry Hayes While the tax law in the area of allowances and meal expenses is somewhat complicated, the keeping of good records can help overcome potential problems. | Wednesday, 26 October 2011 |
Income tax and GST refunds: How delays cause problems Terry Hayes Retail property remained the poorest-performing sector and has the weakest outlook, according NAB’s September quarter survey. | Wednesday, 19 October 2011 |
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Entrepreneur Zone
John Owen James Thomson  QSR International CEO John Owen talks about why Australia must do more to support its high tech industries. | Tuesday, 6 April 2010
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Internet pioneer on new web trends Amanda Gome Lloyd Ernst had an early start on the web, and has learnt how to achieve growth the hard way. He talks to AMANDA GOME about future web directions and what’s in the pipeline. | Thursday, 24 January 2008 |
Trend master Amanda Gome What will the world be like in 30 years? And what opportunities will this world provide entrepreneurs? Europe's foremost futurist, Ray Hammond, tells AMANDA GOME. | Monday, 10 December 2007 |
Trend master Amanda Gome What will the world be like in 30 years? And what opportunities will this world provide entrepreneurs? Europe's foremost futurist, Ray Hammond, tells AMANDA GOME. | Friday, 2 November 2007 |
Trend master Amanda Gome What will the world be like in 30 years? And what opportunities will this world provide entrepreneurs? Europe's foremost futurist, Ray Hammond, tells AMANDA GOME. | Wednesday, 24 October 2007 |
The accidental entrepreneur Amanda Gome The accidental entrepreneur | Thursday, 3 May 2007 |
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