The ATO’s charges interest for late payment of income tax, fringe benefits tax, goods and services tax, and pay as you go taxes.  The General Interest Charge rates are updated quarterly for the next quarter.  The rates for the current quarters are: Quarter GIC annual rate October – December 2019 […]

June 2019 Cash Rate drop. At its June meeting, the Reserve Bank Board decided to lower the cash rate by 25 basis points to 1.25 per cent. The Board took this decision to support employment growth and provide greater confidence that inflation will be consistent with the medium-term target. The […]

Principles you can apply to counting Trading Stock and Fixed Assets Businesses should stocktake on a regular basis, as well as annually at the end of the financial year.  An accurate stock count and subsequent valuation provides accurate figures for the business’ regular management accounts as well as the year-end […]

Here are 30 top tax planning strategies to minimise the tax you pay, and to leave a few dollars in your pocket, not the tax man. All taxpayers are allowed to arrange their affairs in a manner that remains legal but which minimises their taxation liabilities. The 30 strategies are […]

If you are looking to buy a commercial property, you will run across the terms “Going Concern GST exemption”. The seller of the property will most likely have to apply GST to the sale, which will add tens of thousand to what you have to pay. If you are registered […]