The adoption date for AASB 15 Revenue from Contracts with Customers is for financial periods beginning on or after 1 January 2018.
With 31 December 2018 year end fast approaching, have you ensured your revenue accounting is in accordance with the new standard?
Recognising the hard work of employees is important to ensure morale remains high in the workplace and that quality workers are retained in your business. One of the easiest ways to reward employee excellence is through the payment of employee bonuses.
"What I like about RSM is that they are a really easy company to deal with and they’ve taken the time to understand our business and their breadth of expertise across the country and they’ve really made our life a lot easier".
Ben Howell, Chief Executive Officer
"What I find dealing with the firm is that they are real people, they really understand the construction industry. I think that’s a very important part of what they offer to me and the business at McNab.
The Bill containing the legislation dealing with GST on property transactions will not be introduced into parliament until the autumn parliamentary sittings at the earliest, but it is our understanding that there is no change to the commencement date for the new regime, which remains 1 July 2018.
On 6 November 2017, Treasury published an Exposure Draft of legislation that will require purchasers of new residential premises and lots in new residential subdivisions to pay an amount equal 1/11th of the
In 1987, Aretha Franklin finally got the respect she deserved by being the first woman inducted into the Rock ‘N’ Roll Hall of Fame. Also that same year, the Australian Taxation Office (ATO) released Income Tax Ruling IT 2450 to determine how to return income and recognise expenses on long-term construction contracts.
To ensure Australia captures as much tax as possible from property transactions a new withholding tax has been introduced and will apply to contracts entered into on or after 1 July 2017.
Under the new provisions where a foreign resident disposes of:
“The ease with which we do business is a big tick box – supportive as well as providing the right advice. Our willingness to recommend RSM as an organisation would be absolute”.
- Paul Wolff, Director Sales and Marketing, Porter Davis Homes