INDEPENDENT CONTRACTOR OR DEEMED EMPLOYEE

The costs of getting it wrong Recent co-ordinated audit activity from the ATO, State revenue offices and workcover authorities have highlighted the importance of making the correct distinction between a legitimate contractor and a deemed employee. The costs of getting it wrong can be significant, particularly to small businesses. Often businesses are looking to reduce…

Business

2016/17 Budget – Key changes for Business

The recent federal budget included some big wins for small business. Some key measures that will impact Butler clients are: Increase in the small business threshold from $2m to $10m turnover A reduction in the Company tax rates for small business to 27.5% Increase in the tax discount for unincorporated small business Simplified BAS reporting…

Business

2016/17 Budget – Key changes for Individuals

With none of the changes to capital gains tax or negative gearing that many had been anticipating, this year’s federal budget was light on changes to personal income tax reform. Some of the key changes include: Personal income tax reductions Higher education – HELP debt repayments reform Simplification of means testing for students and other payment recipients   Personal Income tax…

Individual

Up the Superstream without a paddle?

Superstream is a ticking time bomb that most businesses are largely unaware of. Those businesses who do not comply by the ATO’s deadlines could face significant penalties and even worse, face the wrath of their employees. The ATO’s deadline to be superstream compliant is fast approaching. Large businesses have until 31 October 2015 and for small…

Business

Business Planning

A brilliant business idea is only the first of many steps on the road to success. Ultimately, your success will be decided not by the idea, but its execution. Taking the time to step back, think objectively and plan for its implementation is a crucial process for any start-up, no matter how big or small.…

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