The ATO is increasing its audit focus on businesses that use contractors. The risk is that if the ATO concludes that individuals are employees rather than contractors, the client will be exposed to shortfalls of superannuation and PAYG. There is also the additional risk of interest and penalties.
The ATO’s additional powers to deal with breaches of the Superannuation Industry (Supervision) Act 1993 (SIS Act) by self-managed superannuation funds (SMSFs) is now law and will apply to breaches of the SIS Act from 1 July 2014.
If your terms of trade documents don’t have the correct provisions, you can lose goods supplied to a customer that becomes insolvent, even though you may have title to the goods.
If your terms of trade documents don’t have the correct provisions, you can lose goods supplied to a customer that becomes insolvent, even though you may have title to the goods.
The ATO has announced ‘Project DO IT’, under which they are offering a ‘last chance’ for taxpayers to disclose offshore income.
On 7 March 2014 we reported that the federal Minister for Social Services, Kevin Andrews, had confirmed the pre-election promise of the government to abolish the Australian Charities and Non-for-Profits Commission (ACNC).
The Commonwealth Government is inviting submissions on draft legislation, draft regulations and explanatory materials intended to amend tax laws to restate and centralise the special conditions for tax concession entities.
The Personal Property Securities Amendment (Deregulatory Measures) Bill 2014 proposes to amend the definition of ‘PPS Lease’ in the Personal Property Securities Act 2009 (PPSA) so that leases of serial numbered personal property for less than one year will not create a PPS Lease security interest.
A recent decision of Judge Dorney QC of the Queensland District Court has clarified the limitation period for recoverable sums under section 60 of the Motor Accident Insurance Act 1994 (Qld) (‘MAIA’).
In further support of the application of the exclusivity principle, the United Kingdom Supreme Court handed down a judgment this month in Stott v Thomas Cook Tour Operators Limited [2014] UKSC 15 in which it held that Mr Stott was unable to recover damages against the carrier for humiliation and discomfort pursuant to the UK Disability Regulations 2007, because those damages were precluded by the Montreal Convention, which would apply to his carriage by air.
Since its establishment on 3 December 2012, the Australian Charities and Not-for-profit Commission (ACNC) has been working to protect public trust and confidence in charities and assist charities in complying with their obligations under relevant laws.
Federal Minister for Social Services Kevin Andrews has confirmed the pre-election promise of the Government to abolish the Australian Charities and Non-for-Profits Commission (ACNC).