TFG – Accounting Blog

8 Online Security Tips – Get your security in order!

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If ‘12345678’, ‘password’, ‘admin’, or your date of birth is your password of choice, you could do with a few lessons in internet security. From Telstra to the ATO, a growing number of organisations have been targeted by hackers and scammers hoping to obtain customers’ personal data and credit card...
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Director’s fees: What and How To Pay Them

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The issue of Director’s fees often comes up – should we pay directors, how to pay, and if we do pay fees how should they be paid? We answer the common questions for private companies. Can you pay a Director? Directors who work in the company, executive directors, would generally...
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Main residence exemption removed for non-residents

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The Federal Budget announced that non-residents will no longer be able to access the main residence exemption for Capital Gains Tax (CGT) purposes from 9 May 2017 (Budget night). Now that the draft legislation has been released, more details are available about how this exclusion will work. Under the new...
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Is your business using the correct award rates?

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Happy new financial year! We hope last years was financially prosperous and here’s to another exciting year ahead. However, as it is the new financial year, it’s time to ensure that you’re paying up to the correct award rates. Here is a quick how-to-guide that we’ve put together to make...
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The ATO Targets Outlaw Motor Cycle Gang Members

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Two hundred Outlaw Motor Cycle Gang members have been served notices by the Australian Taxation Office (ATO) for failing to comply with their tax obligations.  We hope for the sake of the ATO staff the notices were delivered by mail! There are not a lot of details about exactly what...
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Aussie Investment Properties: Pre And Post 30 June

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Anyone with investment property in Australia is probably feeling a little edgy with all the recent media attention on deductions, affordable housing, and negative gearing.  We take a look at some of the key tax issues for investors pre and post 30 June 2017: No more deductions for travelling to...
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Property and the 2017 Federal Budget

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If you invest in residential property… and are a foreign resident . . . where the property is not occupied or genuinely available on the rental market for at least six months per year, you will be charged an annual ‘penalty’ of at least $5,000.  The new charge applies to...
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Federal Budget 2017 SMSF Update

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Government delivers stability in 2017-18 Federal Budget Stability and confidence for superannuation is the good news coming out of the 2017-18 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes of the last Budget which take effect from 1 July 2017, this Budget’s minimal changes...
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