Tax Impacts for Property
Recent changes for property owners have made the buying and selling properties a bit harder from a reporting perspective.
Recent changes for property owners have made the buying and selling properties a bit harder from a reporting perspective.
Fulfilling tax obligations ranks at the top of business compliance priorities, but it’s not always easy to keep on top of your business tax. Business tax debt has serious implications when left unpaid, so every business should be proactive in managing this type of debt.
Debt is a normal part of doing business. Every company will have some debts that must be managed on a regular basis, and good debt management is about always being aware of the debts you have and dealing with them in a timely and structured manner.
The days of a lax approach to valuations are over. While there is not always the need to employ a qualified independent valuer for each valuation, there are important circumstances where it is mandated, and others where it is recommended. Where one is not used then appropriate documentation needs to be kept of how valuations were determined. Back of the envelope or simply made-up valuations will not suffice.
Whether or not the trustee of a complying superannuation fund can accept member contributions for those aged between 65 and 75 depends on the member satisfying the “work test”.