When is expenditure on a website tax deductible?
With more and more businesses having websites, the taxation treatment of the costs associated with building and maintaining those websites is an important topic.
Are your contractor payments exempt from payroll tax?
Recently there has been a rise in the number of random NSW Payroll Tax audits, especially in the Building & Construction Industry. The key target is payroll tax on Contractor Payments where the worker is hired as an independent contractor, but works and operates exactly like an employee. Payroll Tax is applied to a business’s […]
Airbnb: Still plenty of questions
Whether speaking to clients or simply to people at a barbecue, I still find myself regularly asked the question, “is Airbnb a problem for me or my tax?” I usually respond with, “no, not really as long as you know what you’re doing … are you doing it? Does it work for you?” This counter-question […]
The new tax regime for managed investment trusts is here – Are you ready?
The new Attribution Managed Investment Trust (AMIT) legislation has now passed into law and we have developed a tool kit that can assist Funds. The new Attribution Managed Investment Trust (AMIT) legislation has now passed into law. The new provisions can be early adopted by qualifying managed investment trusts (Funds) from 1 July 2015 or […]
Contract Costs and AASB 15 revenue from contracts with customers
In our July 2015 newsletter we provided a high level overview of the new revenue recognition standard AASB 15 Revenue from Contracts with Customers. In this month’s newsletter we look more closely at the treatment of incremental costs of obtaining a customer contract under the new revenue standard. 1. Costs of Obtaining Contracts with Customers […]
Accounting for share-based payments
In this month’s newsletter, we discuss the financial reporting by an entity when it undertakes a share-based payment transaction. The newsletter addresses why AASB 2 Share-based Payment exists in the first place, the scope of AASB 2, as well as some practical examples of the accounting treatment of cash-settled and equity settled share-based payments. 1. Why does […]