Tag Archives: business

If there is anything that can strike terror in the heart of most individuals, it is the thought of a tax audit. Fortunately, less than one per cent of tax returns are actually audited. To lessen the possibility of an adverse audit, it generally pays to have your tax return prepared by your accountant. (more…)

The Superannuation Guarantee Scheme requires an employer to contribute an amount equal to a percentage of each employee’s earnings into a complying superannuation fund. Employers who do not make the required contributions have to pay a penalty called a superannuation guarantee charge. (more…)

Gains on the sale of assets are subject to capital gains tax. The gain is generally equal to the difference between the proceeds of the sale and the cost of the asset. There is rollover relief from capital gains tax to small business owners who sell assets in order to buy other assets for use in a business, or who wish to sell the business in order to retire. (more…)