All News

NZ CHANGES TO GST IMPORTS TO AFFECT OUR EXPORTERS

By WSC GROUP | Created on February 2, 2020

The proposed rules would require offshore suppliers to register and return GST, when they supply services and intangibles, which exceed a given threshold in a 12-month period, to New Zealand-resident consumers.

PAY GST INSTALLMENTS QUARTERLY AND REPORT ANNUALLY

By WSC GROUP | Created on February 2, 2020

This option is available to all businesses with a turnover of $2 million or less.

TAXPAYERS CAN APPLY TO THE ATO FOR A MARKET VALUE RULING

By WSC GROUP | Created on February 2, 2020

They say that practitioners or their clients can apply for a market value private ruling, by either:

Registering an SMSF for an ABN

By WSC GROUP | Created on February 2, 2020

The guidance is probably most relevant where a person aged over 65, who is not working, wishes to set up a new SMSF and roll over into that SMSF an amount from another fund. If you have any issues, please contact our office.

Reasonable Overtime Meal Allowance Amounts – 2015/16

By WSC GROUP | Created on February 2, 2020

The reasonable amount for overtime meal allowance expenses for 2015/16, where an allowance is paid under an award, order, determination, industrial agreement or a Commonwealth, State or Territory law, is as follows:

Tax support service for drought affected communities

By WSC GROUP | Created on February 2, 2020

The government has announced a new service to help drought affected communities manage their tax affairs when times are tough, and has set up a dedicated hotline on 13 11 42.

Tax help for people affected by severe weather in NSW

By WSC GROUP | Created on February 2, 2020

Taxpayers' tax obligations can be put to one side until they have dealt with the immediate effects of the disaster – whether they are affected themselves, or are helping those affected.

Should you give your employees shares in your company?

By WSC GROUP | Created on February 2, 2020

There is a lot being written about employee share schemes (ESS) right now. And rightly so. Reforms before Parliament will make these schemes more attractive with a common sense approach to how they are taxed and special incentives for start up companies to share the rewards of growth with the people who help create that growth.

Small business company tax cut to go ahead

By WSC GROUP | Created on February 2, 2020

The Prime Minister announced that the government is currently working on a small business and jobs package, and that at the heart of this package was a small business company tax cut from 1 July 2015 which was “at least as big as the 1.5% already flagged”.