News and Views

Trojans now arrive by email!

At the end of a busy day Adel was preparing to go home. She is an office manager at a very successful small family business that sourced and supplied quality aftermarket parts for air conditioning repairs.
 
Just before Adel closed down her computer she received an email from her boss, the owner, David. In the email David asked Adel to arrange an urgent $50,000 transfer to a supplier that night...

2017-18 South Australian Budget Wrap

Treasurer Tom Koutsantonis has revealed his fourth budget, the last before the 2018 state election. Voters have been wooed with community grants, infrastructure spending, apartment affordability measures and some extra payroll tax relief for business.

Whilst the big banks –  today's headline story  - and foreign investors (neither of whom vote) have come out the biggest and very sore losers.

If you are buying or selling property over $2 million – New rules now apply

From July 1 2016, all Australian residents, selling property with a market value over $2 million (GST exclusive) will need to get a clearance certificate from The Australian Taxation Office (ATO).

From 1 July 2016, a 10% withholding tax will apply when foreign residents sell certain types of Australian property. If  you are selling Australian property, the new rules assume you are a non-resident unless you have a clearance certificate from the ATO. Without this clearance certificate, the purchaser must withhold 10% of the purchase price and pay this to the ATO.
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