Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
Salary sacrifice integrity
Understanding the evolution of blockchain and cryptocurrencies
Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Tax Office reveals adventurous, dubious claims ahead of tax time
ATO reveals top tax time mistakes, set to contact 1 million taxpayers
Watch out for charges with incoming GST laws.
Super savings gap for women stuck at 30%
‘Wipe the slate clean’: Clients, accountants urged to use new amnesty period
Statistics for all Australians
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
Cryptocurrency audits tipped to increase this EOFY
Australia by numbers – Update
$2.4m lost to tax scams, ACCC reports
No GST on digital currency
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Articles archive
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 4 October - December 2007
Quarter 2 April - June 2007
Quarter 1 January - March 2007
Quarter 2 April - June 2006
Quarter 1 January - March 2006
Quarter 4 October - December 2005
Quarter 3 July - September 2005
Quarter 4 of 2009
Articles

From George and John

Merry Christmas and a Happy new Year to all our clients.
Powerful Superannuation tool on our site.
Gifts Provided to Employees at a Christmas Party – any FBT?
Reminder Tax Break Deadlines
Australian Taxation Office (ATO) Bungled Attack on Foreigners
Tax File Numbers (TFN) and Super Funds
Recognition of same-sex Couples in Super
Attitude of Banks to Insolvency
From the Desks of George and John
3 x Tax Time Checklists
Director Penalties – Workplace Relations Act
Tougher Sponsored Workers Policy
Insolvent Trading Defences
Case Study - Player Management Fee Deductions
Attitude of Banks to Insolvency
.

Unlike the recession of the 1990’s, the banks seem to see the appointment of an Insolvency Practitioner to a troubled business as a last alternative rather than the first.

Banks generally prefer to work with clients if it is felt the financial difficulties are short term due to the current conditions.  The Tax Office is also supportive, particularly for GST and PAYG concessions.

In the SME sector if the business has a solid core business the banks will work with the business to try and find a successful outcome.  This is all predicated around the business being able to show the bank the extent of their difficulties and their plan for recovery.

Businesses who are not able to do this will not be supported by the banks.  It is therefore more important than ever for businesses to keep their accounts up to date and ensure they are accurate.  A business that does not do this and then falls on hard times will find it difficult to convince their bankers that they are worthy of support.

 

 

 

 

 

 



13th-November-2009