PrimeAdvisory Business Tax Planning Alert 2016
With 2 weeks until the end of the financial year, it is time to plan and set business strategies for the new financial year and beyond.
From 1 July 2015, start-up companies, trusts or partnerships can immediately deduct a range of professional expenses associated with starting a new business such as professional, legal and accounting advice.
From 1 July 2015, there were new rules for the tax treatment of employee share schemes, including tax concessions for start-up companies that meet certain conditions. Are you affected?
Employers need to provide 2016 PAYG Payment Summaries to employees and other workers by 14 July 2016. These must then be submitted to the ATO by 14 August 2016 or penalties will apply. Are you payroll ready?
The Small Business Entities Restructure Roll-Over bill may present broader opportunities for business restructure without income tax costs. The bill applies to transfers of genuine assets on or after 1 July 2016. Is this an opportunity to reassess your business structure? Read More