All news by: James Tng

Company Tax Cuts and the National Energy Guarantee

What a week it’s been. We now have a new Prime Minister after a week where we saw the government confirm it will not proceed with pushing company tax cuts through the Senate nor bring them to the next election. Similarly, the National Energy Guarantee has been put on the back burner.
 
We have to wonder whether politics and votes now have greater influence on policy, than convictions and what is best for the economy.

Company tax changes, a missed tax reform opportunity?

Have we missed the opportunity for meaningful tax reform?

The recent company tax rate reduction drives a wedge between small companies, with draft legislation and the Explanatory Memorandum not addressing key ambiguities.

In a world that is growing increasingly competitive, Australia requires leadership in tax reform and proper implementation more than ever.

Are parties really committed to tax reform?

Of late we’ve seen both the major parties make their case for changes to the tax system. Whilst tax reform has been part of the political, business and social landscape for many years, the commitment of government to tackle this issue head on has been somewhat “lukewarm”. One can understand that from a political perspective  addressing wholesale tax reform can be difficult when you do not have a majority government, or the public have become disenchanted and their votes continuously “swing”.

Doing Business in Australia- new video

This video offers practical information about doing business in Australia. Moore Stephens WA Director James Tng provides an overview of all relevant tax issues that will arise and covers regulations you need to be aware of to maximise the chances of success in Australia. 

Globalisation and the tax system- how taxation affects individuals moving to and out of Australia

The world has shrunk and the business is more fluid than ever. Business has changed and e-commerce has revolutionised the way business is done and where business is conducted from.
 
In the modern world, you can conduct business from a coffee shop, on a beach or in an office. With this change and the way products and services are being delivered, we are noticing now more than ever an inflow and outflow of people into and out of Australia.

Globalisation and the tax system - how taxation affects individuals moving to and out of Australia

 In the modern world, you can conduct business from a coffee shop, on a beach or in an office. With this change and the way products and services are being delivered, we are noticing now more than ever an inflow and outflow of people into and out of Australia. This fundamental shift in society has wider implications and the affects of globalisation on the tax system need to be understood so you can manage your assets.
 

FBT and Logbook Requirements

FBT – Log book requirements

With the FBT year-end fast approaching, it may be a good time to review your internal procedures to reduce the FBT liability for your business. As a firm, we prepare numerous FBT returns for clients across various sectors and one of our most frequent recommendations is for our clients to keep log books for their motor vehicles. With the change to statutory percentages in 2011, the costs of owning motor vehicles in an entity (companies or trusts) have increased and keeping a log book may be a better option than to use the 20% flat rate where the business usage for the vehicles are high.

Ease of Doing Business in Australia

We are often asked the question “how easy is it to do business in Australia?”

The World Bank Group annually ranks all countries for the ease of doing business and Australia currently ranks in the top 15 amongst the 217 countries measured.

Considering Australia is a developed country that also has the hallmarks of low sovereign risk, a stable economy and competitive currency value, this bodes very well for those looking to do business in Australia.

Ease of doing business in Australia

We are often asked the question “how easy is it to do business in Australia?”
 
The World Bank Group annually ranks all countries for the ease of doing business and Australia currently ranks in the top 15 amongst the 217 countries measured.