Did you know that company directors may potentially become personally liable for unremitted Pay As You Go (PAYG) deductions, Superannuation Guarantee Charges (SGCs) or Goods and Services Taxes (GST) – and WET and LCT? The Australian Taxation Office (ATO) has significant powers to recover a company’s unpaid liabilities personally through its directors and may issue continue reading
Increase In Minimum Wage The Fair Work Commission has announced a 2.4% increase to minimum wages that will apply from the first full pay period starting on or after 1 July 2016. This will bring the new national minimum wage up to $17.70 per hour, but it won’t affect employees who are already getting paid continue reading
Trusts have become an extremely popular tool in business and personal asset protection and tax minimisation strategies. A common misconception with a Trust is that it is a legal entity in the same mould as a person or a company. People will often say “my trust owns this” or “my business is a trust”. Whilst continue reading
