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MSI Update from McKinley Plowman – October 2015
October 2nd, 2015The members of MSI Global Alliance from Australia and New Zealand bring you the latest news and updates for the month of October. This edition of the MSI Newsletter features tips on how to turn a good business into a great one by understanding the heart of the business, reviewing key areas and developing a plan. Alsoread more
Avoid penalties! Learn the importance of Property Valuation in Your Tax Reports
September 29th, 2015Different methods are used in valuing properties but the principles remain the same. The most appropriate valuation method must be used in order to determine the value that the market is willing to pay for the asset. The meaning of market value, as used by valuers of real property in Australia, is the estimated amount orread more
Company Tax Rate for ‘Small Businesses’ Reduced to 28.5%, But is it All Good News?
September 25th, 2015Some great news brought in by the Federal Budget to all small businesses, is the decrease of the corporate tax rate from 30% to 28.5% (effective 1 July 2015). This will apply to all companies that have a turnover of less than $2,000,000. If your company is one of many businesses that you conduct, itread more
Nominate a Business for the 2015 JBA Business Awards
September 21st, 2015The North West Metropolitan Business Awards which recognises businesses and their achievements is here once again. The Joondalup Business Association, along with the major sponsor Commonwealth Bank, will announce the winners on the 20th of November 2015. The Gala Presentation Night and dinner celebration is fast approaching and will be held at the Joondalup Resortread more
Do you know your role and responsibility as a Director?
September 16th, 2015A director of a company, as stated by ASIC, is a person who is responsible for managing the company's business activities. ASIC has developed a guide in order for directors to fully understand their roles and responsibilities and the possible implications in cases when the director fails to carry out his duties. The guide containsread more
Changes in the Home Office Running Costs Deduction Rate
September 14th, 2015For employees who are conducting a portion of their work from a home office, the ATO has increased the rate of home office expenses related deductions. From the previous rate of 34 cents an hour, the fixed rate has been increased by more than 32 percent to 45 cents an hour. The employee can onlyread more
Helping You Understand Business Structures
September 10th, 2015The ATO are committed to keeping things simple and organised for business owners by making a checklist that points out the key differences between business structures. Business owners who are choosing what business structure to use or are thinking of changing from one structure to another will find this checklist very handy and informative inread more
Australian Taxation Office (ATO) and your myGov Inbox
September 8th, 2015The ATO are changing the way they communicate and are now committed to using electronic channels as their preferred means for delivery of ATO correspondence. They have implemented more modern forms of communication methods, such as SMS, email and secure messages sent to clients via their myGov Inbox. The myGov portal is a simple way toread more
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