How PAYG instalments work
PAYG quarterly instalment system – like a car! The PAYG instalment system is like a car. It is simple – it has an engine and it takes you places. While I don’t need to understand how the engine works, by doing certain things (like taking off slowly, not running the air conditioner at the bottom […]
Coronavirus Super withdrawal implications – the hangover that could last the rest of your life
While I don’t disagree with the Australian government’s decision to allow people to take out $10,000 one year and $10,000 the next due to Covid-19 – I do not view it as a lifeline. I view it as having a massive night out – but the hangover could last the rest of your life.
Calculating ABN from ACN number
If you have an ACN (Australian Company Number) you may be waiting for an ABN (Australian Business Number). Sometimes you may be pressed by an entity to provide the ABN for the entity. Short answer is: search the ABR or apply for your ABN (or chase up your accountant who is doing so for […]
Have to include premises to sell your business GST free?
If you are selling your professional practice or firm (such as a financial planner, insurance broker, mortgage broker, accountant or bookkeeper or anyone else) a question that may come up is whether you need to include your premises in the sale for the sale to be a GST Free Going Concern sale. The answer […]
Qoin Cyrptocurrency Tax Consequences
14 December 2020 – Please note – this is an ‘evolving’ page and may change in the future as more information comes to light. Want the final say? Book a call with Scott Kay www.calendly.com/ipas Qoin is a Cyrptocurrency that has been launched by Bartercard. When I originally posted this article on 13 July […]
Don’t close before you sell – Selling your business GST free
In this article, I go through the considerations for closing your business and whether you should sell it. Firstly – it isn’t failure to decide your business isn’t helping you meet your goals and joining someone elses (whether as a employee or as a merger). Should I keep my business running? Just as […]