Moore Stephens is proud to announce that James Fitzgerald, Senior Accountant, won the Young Accountant of the Year award at the 2017 Australian Accounting Awards, partnered by Thomson Reuters.

The Australian Securities and Investments Commission (ASIC) are targeting proprietary companies that have not lodged financial statements for FY 2016.

Over the past fortnight, there has been an increase in activity by ASIC in targeting large proprietary companies and foreign controlled small proprietaries that are not lodging financial statements. ASIC is requesting said companies confirm their ‘non-lodgement’ status or lodge the ‘outstanding’ financial statements.
 

The Budget sees the Government place emphasis on generating ongoing employment opportunities for all Australians.

Rental property investors have access to a range of tax strategies. One such strategy, which is often underutilised, is claiming depreciation as a tax deduction.

Property expenses, such as depreciation and capital works expenditure, can be deducted over a number years, adding to a significant return for property investors come tax time.
 

Moore Stephens is proud to announce that we have been shortlisted for the prestigious Australian Accounting Awards, partnered by Thomson Reuters.
 

Over the past month soaring property values have seen landlords hit by steep increases in landlord taxes.

A number of landlords, property owners and lessors have been shocked when confronted with sharp increases in land tax bills this month.

The State Revenue Office (SRO) argues that 2016 was a revaluation year, which means your site value will most likely increase in 2017.
 

Working for yourself has many perks and rewards, however, when it comes to applying for a home loan, being your own boss often sends up a red flag to banks and other lenders. Why? A salaried employee has a regular, steady income and is less likely to experience the cash flow volatility of a small business owner, contractor, entrepreneur, tradesperson or freelancer.

Being proactive and accessing specialist advice, self-employed applicants can also enjoy a successful and hassle-free road to securing a home loan.

It is vital for those with a self-managed super fund (SMSF) to carry out the necessary checks before purchasing a property in their SMSF, especially where borrowing is involved.

Our experienced advisors have listed a number of checks to consider before purchasing a property with your SMSF.

When will owners of plant and equipment and other commercial assets who allow others to hold or use their property realise they need to do a PPSR registration if they want to protect themselves? Despite repeated warnings about the risk of not registering and a number of court decisions that have made the situation clear, it appears that the message that owners need to register their security interests on the PPSR is still not getting through.

The recent WA Supreme Court decision of Flown Pty Ltd v Goldrange Pty Ltd 2016 WASC 419 has once again has highlighted the problem. The case involved a commercial lease situation and certain plant and equipment that was “owned” by the lessor that were on the leased premises. The lessor had earlier provided a loan of $460k to the Lessee for the purchase of the plant and equipment that was secured by the plant and equipment and guaranteed by the directors of the lessee.

Channel Ten’s Shark Tank was back for a second season, aired between 8 May and 7 July 2016, and featured budding entrepreneurs pitching their business ideas to venture capital investors (the ‘Sharks’). Moore Stephens’ Victorian Corporate Advisory Team took this opportunity to once again swim with the Sharks and gain an insight into the minds of both entrepreneur and investor.

Marketing is a crucial component of a small business’ success yet many business owners fail to create a marketing plan.

Some Australian small business owners may now be able to apply the small business restructure roll-over concession upon restructuring their small business.

Since change is an inevitable part of Australia’s superannuation system, taxpayers should always be aware of and on the lookout for super strategies that they can take advantage of.

The focus of this post is on forecasts and discounted cash flows (DCF) that clients typically use to justify the carrying amount of goodwill in their books as part of testing for impairment.  My view is: before you even get to the mechanics of the DCF, ask what’s the business narrative?  

From 1 July 2016, acquisitions of certain taxable Australian property from foreign residents will be subject to a 10 per cent withholding tax (WHT).  The objective of the new rules is to assist the Australian Taxation Office (ATO) in collecting the capital gains tax liabilities of foreign residents who have Australian property holdings or interests.

This year’s Federal Budget saw a raft of changes to superannuation with introduced measures intended to improve the sustainability and integrity of Australia’s superannuation system.

The number of unfair dismissal applications lodged last year suggests that employers are still struggling with unfair dismissal laws.

Around 14,800 unfair dismissal claims were filed in 2015, keeping the Fair Work Commission (FWC) very busy. And while most cases were settled before a formal hearing, they do create an unproductive distraction for employers.

For many employers, it can be easy to forget the responsibility of managing your superannuation obligations amidst the busy lifestyle of operating a business.

However, those who fail to meet their super obligations risk facing severe and even damaging liabilities.
Employers who pay their workers $450 or more before tax in a calendar month must pay superannuation on top of the employee's wages. If an employee is under the age of 18 or is a private or domestic worker, they must work for more than 30 hours per week to qualify. The minimum an employer must pay is called the super guarantee (SG)

We have entered a new era of modern capitalism where high net worth philanthropists are using their wealth to generate social, economic and environmental returns.

Recent changes were made to the CGT treatment on the sale and purchase of businesses involving ‘look-through earnout’ rights.

On 25 February 2016, a new law was enacted to deal with the tax treatment of earnouts for vendors and purchasers.

What is the meaning of leadership? What makes a good leader? Theories abound and have done so for decades.

At Moore Stephens we seek to show leadership by setting a strategy that employees can identify with, and goals they feel motivated and empowered to achieve.

Our strategy hinges on simple goals: providing a full service offering... being known for personalised service… connecting people… building better businesses and growing wealth for our clients.

The lodgement end dates for individuals are detailed in the following table:

2016 has seen markets across the US, Eurozone & Asia suffer losses in excess of 5% and up to 14% while Australian Shares have fallen over 6%. This has seen markets fall to levels seen throughout the second half of 2015. Concerns are centred around the Chinese economy, the US Federal Reserve raising interest rates and the impact of the rising US dollar against the falling Chinese Renminbi. The falling oil price has also effected markets and has again raised concerns over emerging markets.

Does your banker wake up every morning thinking about you and your business?  Do any of your suppliers and partners?  Is your banker a true advocate of your business?