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ATO’s compliance approach - allocation of professional firm profits

25 November 2022

Nick Farr

16 December 2022 will mark 12 months since the ATO’s release of Practical Compliance Guideline PCG 2021/4 – the new tax compliance approach to the allocation of professional firm profits.

ATO’s compliance approach - allocation of professional firm profits

Pay Your Super First

23 November 2022

Simon Brown, Steffie Wallner

SuperStream and more recently Single Touch Payroll (STP) have both been significant changes to the payroll compliance framework for employers.

Significant changes to Aged Care Financial Reporting

11 November 2022

Ray Scott

Recommendation 133 from the Royal Commission into Aged Care Quality and Safety is currently being implemented.

Significant changes to Aged Care Financial Reporting

Natural love and affection in business valuations

28 October 2022

Stephanie McAuliffe

When completing a business valuation on an earnings basis for family law matters (or for any reason), we are largely conducting an exercise of comparison - how do the profits (“earnings”) of this business compare with the earnings generated by others in the same industry?

Natural love and affection in business valuations

STP Phase 2: Everything you need to know

17 October 2022

Rick Kimberley

In the 2019–20 Federal Budget, the government announced that Single Touch Payroll (“STP”) reporting would be expanded to include additional information.

STP Phase 2: Everything you need to know

Updates from the QBCC: The move towards General Purpose Financial Statements

20 September 2022

Nick Farr

As of 1 July 2022, the Queensland Building and Construction Commission (QBCC) have started enforcing the preparation of General Purposes Financial Statements (GPFS) for all financial statement lodgements following the end of the 12-month transition to AASB 2020-2 and AASB 1060.

The move towards General Purpose Financial Statements

Bosch acquires supercar tech supplier MoTeC

15 September 2022

Glyn Yates, Tony Fulton

RSM’s Corporate Finance team has advised on the sale of the MoTeC Group to Bosch for an undisclosed sum.

Record keeping for a trade services company

8 September 2022

One of the most neglected aspects in all businesses, but especially the trade services industry, is the ability to manage records for the ATO. As time consuming as it may seem, when you have a great system in place to assist with this side of business, it can be a quick and easy process.

Record keeping for a trade services company

Solicitor Trust Accounts Compliance Audit

23 August 2022

Shelby Earl

If you are a practicing solicitor, you more than likely will hold a trust account. Trust accounts are maintained to handle trust money on behalf of your clients.

Common tax questions during tax season

16 August 2022

Reagan Manns

With the end of financial year now been and gone, if you haven’t yet had a chance to get your tax affairs in order, we’ve put together a list of the most frequently asked questions or misunderstood elements of our tax system.

Next round of QLD business boost grants

3 August 2022

The next round of QLD Business Boost Grants is about to open!

How to keep your valuable employees engaged and motivated

20 July 2022

Jason Croker

As we have moved out of the pandemic, and with agriculture going through a significant growth phase, hardly a day goes by where we don’t have a conversation with a client who needs more workers.

How to keep your valuable employees engaged and motivated

Don’t let your ATO tax debt cripple your healthcare business

19 July 2022

Peter Nicol

In the healthcare sector, we have noticed some complacency around overdue tax payments, particularly, for medical contractors who operate under an ABN, and failure to keep on top of tax obligations can very quickly see debt rise.