by Marketing | Sep 20, 2017 | Business Structures, Income Tax - Business, Income Tax - Individuals, Shelf Company, Tradies, Trust Setup
If you received income for personal services as a sole trader, you need to be aware of special rules applying to this income. Introduced in 2001, Personal Services Income (PSI) rules applies to prevent individuals from “alienating” their PSI to either a...
by Marketing | Sep 19, 2017 | Business Structures, Company Setup, Partnership, Shelf Company, Sole Trader, Tradies, Trust Setup
A partnership business structure is a little more complex than sole trader. With this structure, two or more people start a business and can legally share profits, risks and losses in accordance with the terms and conditions of a partnership agreement, or, where no...
by Marketing | Mar 30, 2014 | Benchmarking, Income Tax - Business, Tradies
See this post for details of the ATO’s 2014 hit list – Tradies 2014 Tax Returns Targeted. Small business benchmarks are financial ratios developed by the ATO from information provided to by businesses on their tax returns and activity statements. The...
by Marketing | Mar 22, 2014 | Benchmarking, Income Tax - Business, Income Tax - Individuals, Motor vehicle expenses, Tradies, Travel expenses
Tradies’ and sales & marketing managers are on the ATO’s 2013-14 hit list. Of major concern to the ATO in 2014 is un-declared income and “incorrectly claimed” work expenses. Un-declared income The ATO continues to build a strong data...
