TitleDateAuthorShort ParagraphImageLinkOrderService
Business Transformation Philosophy2017Aspen CorporateAspen Corporate specialises in business transformation. Our advisors have years of combined experience turning around poor performing businesses and growing fledgling start-ups into large scale, successful enterprises.files/images/content/Business Transformation/Transformation Philosophy.pngresources/reading_room/news_archives/business_transformation_philosophy01Business Advisory,Growth & Wealth Management
October 2017 eBulletin2017Aspen CorporateAspen Corporate's new website, Are you simplified BAS ready?, Confused about the $20K instant asset write-off?, Alert: What you need to tell the ATO about your SMSF, New laws hold franchisors responsible for vulnerable workers, Safe harbour for directors of struggling companies, Tax benefits for investing in affordable housing resources/reading_room/news_archives/october_ebulletin_02None
November 2017 eBulletin2017Aspen CorporateCloud accounting - five things you need to know, Taxing Bitcoin, Cleaners and couriers latest black economy target, New legislation restricts access to the reduced company tax rate, How small subsidiaries are being caught by Australia's new multi-national tax crackdown, ASIC penalties 'the cost of doing business' resources/reading_room/news_archives/november_ebulletin03None
December 2017 eBulletin2017Aspen CorporateMerry Christmas, Protecting your business - what you need to be asking your internal accounts team, Santa's Tax Crises, Why 'property flipping' is the next ATO target, Foreign property owners slapped with a fee for vacant property, The Uber Driver GST surprise, ACCC gets tough on credit card surcharge. resources/reading_room/news_archives/december_2017_ebulletin04None
Will your business be audited2018Aspen CorporateThe ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business 'looks like' in different industries. If your business falls outside of those benchmarks, the ATO is likely to take a closer look at why that is.files/images/content/Newsletter/bigstock-Close-Up-Of-Businessman-Or-Acc-210497341.jpgresources/reading_room/news_archives/will_your_business_be_audited6Tax
Important Changes to Payroll2018David ScottSingle Touch Payroll (STP) is a new reporting requirement currently being implemented by the Australian Taxation Office (ATO), and will become compulsory for employers with 20 or more employees on 1 July 2018, and it is planned by the ATO to befiles/images/content/Newsletter/_DSF84383.jpgresources/reading_room/news_archives/single_touch_payroll5Bookkeeping
The ATO's fringe benefit tax hot spots2018Aspen CorporateThe Fringe Benefits Tax (FBT) year ends on 31 March. We've outlined the key hot spots for employers and employees.files/images/content/Newsletter/bigstock-Business-Acronym-Fbt-As-Fringe-107398202.jpgresources/reading_room/news_archives/the_atos_fringe_benefit_tax_hot_spots7Tax
Power and Influence2018Aspen CorporateThe other business influencer that can make or break you Did a Kardashian really just wipe US $1.3bn off the share price of Snapchat?files/images/content/Newsletter/bigstock--153602849.jpgresources/reading_room/news_archives/power_and_influence8Growth & Wealth Management
GST on property development2018Aspen CorporateThe big changes for developers and purchasersfiles/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/gst_on_property_developments9Tax,Growth & Wealth Management,State and Federal Legislation/ Budgets
Common mistakes when claiming fuel tax credits2018Domenic TartagliaIf you're using fuel as a regular part of your business operations, then it may be possible for you to claim a Fuel Tax Credit.files/images/content/NewFolder/Fuel bigstock--160918916.jpgresources/reading_room/news_archives/claiming_fuel_tax_credits10Tax
Tax Deductions: the danger zones2018Aspen CorporateA recent Parliamentary Inquiry into Tax Deductions created some fairly sensational headlines about what and how deductions are being claimed - $22 billion worth to be exact.files/images/content/Newsletter/bigstock--221969701.jpgresources/reading_room/news_archives/tax_deductions_the_danger_zones11Tax
Should you use the new super measures when you buy/sell your home?2018Aspen CorporateFrom 1 July 2018, new laws come into effect allowing first home buyers to use their super to help buy a home, and at the other end of the spectrum, downsizers to contribute proceeds from the sale of their home to super without many of the normal restrictions.files/images/content/Newsletter/bigstock-Suburban-Houses-69572275.jpgresources/reading_room/news_archives/should_you_use_the_new_super_measures_when_you_buy_sell_your_home_12Growth & Wealth Management,State and Federal Legislation/ Budgets,Superannuation
Single Touch Payroll: what you need to know2018David ScottSingle Touch Payroll (STP) – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – comes into effect from 1 July 2018.files/images/content/Newsletter/bigstock-Calculate-Payroll-For-Employee-79269223.jpgresources/reading_room/news_archives/single_touch_payroll_are_you_ready13Bookkeeping,State and Federal Legislation/ Budgets
Utes and commercial vehicles - the new safe harbour to avoid FBT2018Rob Lo PrestiThe ATO has shown its intentions in relation to Utes and commercial vehicles. Most taxpayers have assumed that as long as a vehicle has a carrying capacity of greater than one ton or carries more than 9 passengers that their Fringe Benefit Tax (FBT) obligations were easier to satisfy.files/images/content/Newsletter/transporting-service-company--129445487.jpgresources/reading_room/news_archives/utes_and_commerical_vehicles15Tax
CGT and the family home: Expats and foreign residents beware2018Aspen CorporateThe family home of foreign residents and expats may be taxed if legislation before Parliament is passed by the Senate.files/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/cgt_and_the_family_home__expats_and_foreign_residents_beware16Tax,Growth & Wealth Management
Definition of an SMSF to change2018Aspen CorporateThe Government has announced that the maximum number of members an SMSF can have will increase from four to six.files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/definition_of_an_smsf_to_change17Superannuation
Tax stats reveal the state of the Australian community2018Aspen CorporateEvery year, the Australian Taxation Office (ATO) compiles the tax data they collect. The recently released 2015-16 'tax stats' encapsulate the data from 16 million income tax returns lodged for the 2016 income year for 13.5 million individuals, 940,000 companies, as well as superannuation funds, partnerships, and trusts.files/images/content/Newsletter/Highest earning job roles.pngresources/reading_room/news_archives/tax_stats_reveal_the_state_of_the_australian_community18Tax,Growth & Wealth Management
2018 State and Federal Budget Snapshot2018Domenic TartagliaDetails from the State and Federal Budgetsfiles/images/content/Newsletter/bigstock--217705018.jpgresources/reading_room/news_archives/2018_state_and_federal_budget_snapshot19State and Federal Legislation/ Budgets
Who gets a tax cut from 1 July?2018Aspen Corporate1 July 2018 is the start date for the seven year income tax plan announced in the recent 2018-19 Federal Budget. The seven year plan benefits low and middle income earners in the first few years before expanding out to a broader restructure of the tax rates and brackets for everyone.files/images/content/Newsletter/bigstock--211968226.jpgresources/reading_room/news_archives/who_gets_a_tax_cut_from_1_july_20Tax,State and Federal Legislation/ Budgets
Your essential EOFY checklist2018Aspen CorporateNo one wants to pay more tax than they need to or face unnecessary risks. We've compiled a list of our top tips for you.files/images/content/Newsletter/bigstock-End-Of-Financial-Year-Savings--93321458.jpgresources/reading_room/news_archives/your_essential_eofy_checklist21Tax
What's changing on 1 July 2018?2018Aspen CorporateWhat changes come into effect on July 1 for individuals, businesses, and superannuation.files/images/content/Newsletter/bigstock-Vintage-Metal-Analog-Alarm-Clo-92214785.jpgresources/reading_room/news_archives/what_s_changing_on_1_july_2018_22Tax,Growth & Wealth Management,Superannuation
One-off Super Guarantee Amnesty2018Aspen CorporateEmployers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to "self-correct" under a new amnesty announced late last month.files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/one-off_super_guarantee_amnesty23Accounting,Bookkeeping,Superannuation
New minimum pay rates from 1 July 20182018Aspen CorporateNew award wages and allowances come into effect from 1 July 2018.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/new_minimum_pay_rates_from_1_july_201824Bookkeeping,Business Advisory
$10k limit on cash payments to business2018Aspen CorporateOne of the interesting approaches to tackling the black economy in the recent 2018-19 Federal Budget was the announcement of a $10,000 limit on cash payments to business. resources/reading_room/news_archives/_10k_limit_on_cash_payments_to_business25Tax,Business Advisory
Company tax change in limbo2018Aspen CorporateAn issue that many business owners and investors will need to grapple with is uncertainty on the tax rate that applies to companies for the year ended 30 June 2018 and the maximum franking rate on dividends paid during the 2018 income year.files/images/content/Newsletter/bigstock-Australian-Company-Tax-Return-68721451.jpgresources/reading_room/news_archives/company_tax_change_in_limbo26Tax,State and Federal Legislation/ Budgets
1 July 2018 Personal income tax cuts2018Aspen CorporateNew personal income tax rates come into effect from 1 July 2018.files/images/content/Newsletter/bigstock--217705018.jpgresources/reading_room/news_archives/1_july_2018_personal_income_tax_cuts_27Tax
$20k accelerated deductions for small business extended another year2018Aspen CorporateThe ability for small business entities to claim an immediate deduction for assets costing less than $20,000 has been extended for another 12 months until 30 June 2019.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/_20k_accelerated_deductions_for_small_business_extended_another_year28Tax
When can you take your super?2018Aspen CorporateThe cash sitting in your superannuation fund can be tempting, particularly if you are short of cash. But, the reality is there are very few ways you can take advantage of your superannuation once it has been contributed to the fund – even if you change your mind.files/images/content/Newsletter/bigstock--188783275.jpgresources/reading_room/news_archives/when_can_you_take_your_super29Superannuation
Are you holding back your business?2018Aspen CorporateOvercoming the biggest problems in business often comes down to the simple things. Here are a few simple things you can do to capitalise on your opportunities and reduce your risks.files/images/content/Newsletter/bigstock--205059931.jpgresources/reading_room/news_archives/are_you_holding_back_your_business30Business Advisory,Growth & Wealth Management
Clothing deductions hung out to dry2018Aspen CorporateThe Australian Taxation Office is closely examining work-related clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns.files/images/content/Newsletter/washing uniforms.jpgresources/reading_room/news_archives/clothing_deductions_hung_out_to_dry_31Tax
Will Australians pay more for a good cause?2018Aspen CorporateIn the same month that desperate farmers made headlines preparing to destroy starving flocks and pleading with the public to pay a few cents more for their dairy products, Dick Smith's nationalistic brand announced its closure. The question is, will Australians pay more for a cause?files/images/content/Newsletter/cow.jpgresources/reading_room/news_archives/will_australians_pay_more_for_a_good_cause_32Growth & Wealth Management,State and Federal Legislation/ Budgets
What you need to know about ATO Scams2018Domenic TartagliaDo you know the signs to look out for to protect yourself against scammers claiming to be from the ATO?files/images/content/Newsletter/phone scam.jpgresources/reading_room/news_archives/ato_scams33Business Advisory,Growth & Wealth Management
ATO takes its share of car sharing2018Aspen CorporateThe extra income earned by people taking part in car sharing services such as Car Next Door or DriveMyCar has come to the attention of the ATO.files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/ato_takes_its_share_of_car_sharing34Tax,State and Federal Legislation/ Budgets
Tax 'safe harbour' for inherited property2018Aspen CorporateWhen someone inherits a dwelling there are some special rules contained within the main residence exemption provisions that can provide a full exemption if certain conditions are met. If the conditions are not met, the beneficiary might face a nasty capital gains tax (CGT) bill for their good fortune.files/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/tax__safe_harbour__for_inherited_property35Tax,Growth & Wealth Management
Got a HELP debt? The impending changes to speed up your repayments2018Aspen CorporateThe Government has moved to put an end to 'eternal students' who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt.files/images/content/Newsletter/bigstock-Young-Happy-Students-With-Book-231755323.jpgresources/reading_room/news_archives/_a_help_debt__the_impending_changes_to_speed_up_your_repayments36Tax,Growth & Wealth Management
Last minute changes to company tax and franking rate passed by Parliament2018Aspen CorporateLegislation passed by Parliament late last month introduces a new test that will restrict some companies from accessing the lower company tax rate from the 2017-18 financial year.files/images/content/Newsletter/bigstock--217705018.jpgresources/reading_room/news_archives/last_minute_changes_to_company_tax_and_franking_rate_passed_by_parliament37Tax,Growth & Wealth Management,State and Federal Legislation/ Budgets
190,000 taxpayers 'examined' in ATO online rental blitz2018Aspen CorporateThe Australian Taxation Office (ATO) has announced a new data-matching program targeting taxpayers earning income from the exploding popularity of short-term rentals available on platforms like AirBNB and Stayz.files/images/content/Newsletter/bigstock--215929864.jpgresources/reading_room/news_archives/190_000_taxpayers__examined__in_ato_online_rental_blitz38Tax,Growth & Wealth Management
Are you ready for a surprise Fair Work audit?2018Domenic TartagliaThe Fair Work Ombudsman has been conducting surprise visits to Perth businesses in recent months.files/images/content/NewFolder/bigstock-Man-and-woman-sitting-in-cafet-268753645.jpgresources/reading_room/news_archives/are_you_ready_for_a_fair_work_surprise_audit_39Accounting,Bookkeeping,Growth & Wealth Management
Confusion reigns over superannuation transfer balance cap2018Aspen CorporateA recent speech by the ATO's Assistant Commissioner for Superannuation demonstrates the very practical problems with the new superannuation rules.files/images/content/Newsletter/bigstock--188783275.jpgresources/reading_room/news_archives/confusion_reigns_over_superannuation_transfer_balance_cap40Growth & Wealth Management,Superannuation
New immediate deduction for primary producers2018Aspen CorporateLegislation that passed Parliament last month will enable primary producers to claim an immediate deduction for fodder storage assets such as silos and hay sheds used to store grain and other animal feed.files/images/content/Newsletter/bigstock--197264209.jpgresources/reading_room/news_archives/new_immediate_deduction_for_primary_producers41Tax,State and Federal Legislation/ Budgets
Reminder on cents per km car expenses rate2018Aspen CorporateThe cents per kilometre car expense rate increased from 66 cents to 68 cents per kilometre from 1 July 2018files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/reminder_on_cents_per_km_car_expenses_rate42Accounting,Bookkeeping
What does the China/US trade war mean to Australia?2018Aspen CorporateAs the bilateral trade war between the US and China heats up, we look at what this might mean to Australia caught between its cultural and military ties to the US and its strong economic relationship with China.files/images/content/Newsletter/bigstock-Usa-And-China-Fight-China-Che-236888203.jpgresources/reading_room/news_archives/what_does_the_china_us_trade_war_mean_to_australia_43Growth & Wealth Management
Working from home: What deductions can you claim?2018Aspen CorporateFor a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their 'hit list' are home office expenses. We guide you through what you can and can't claim if you work from home.files/images/content/Newsletter/bigstock--219109840.jpgresources/reading_room/news_archives/working_from_home__what_deductions_can_you_claim_44Tax,Business Advisory
Travelling to and from your investment property2018Aspen CorporateFrom 1 July 2017, new rules came into effect that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property.files/images/content/Newsletter/bigstock-Investing-On-Property-2876142.jpgresources/reading_room/news_archives/travelling_to_and_from_your_investment_property45Tax,Growth & Wealth Management
Accelerated tax rate reduction for small business2018Aspen CorporateSmall business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses.files/images/content/Newsletter/bigstock-Close-Up-Of-Businessman-Or-Acc-210497341.jpgresources/reading_room/news_archives/accerlerated_tax_rate_reduction_for_small_business46Tax,State and Federal Legislation/ Budgets
The new rules for gift cards – what you need to know2018Aspen CorporateIn Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates.files/images/content/Newsletter/bigstock-Color-Gift-Cards-vector-forma-25052681.jpgresources/reading_room/news_archives/the_new_rules_for_gift_cards___what_you_need_to_know47Business Advisory,State and Federal Legislation/ Budgets
Four things Female Entrepreneurs need to consider before starting your own business2018Bernadette SmithAcross Australia, entrepreneurs are starting innovative business, and according to the last Census, women make up more than 33% of them. At Aspen Corporate, we work every day with women who are passionate about building and running a business which gives them the flexibility and control over their life and work.files/images/content/Newsletter/bigstock--202432735.jpgresources/reading_room/news_archives/four_things_female_entrepreneurs_need_to_consider_ Accounting,Bookkeeping,Business Advisory,Growth & Wealth Management
Bookkeeping Tip - Authentication: New or Reset Phones2018David ScottIf you purchase a new phone, or need to factory reset your phone, you need to do some things first BEFORE destroying, resetting, selling your old phone.files/images/content/Newsletter/FB_Bookkeeping hacks - Reckon_hacks.jpgresources/reading_room/news_archives/bookkeeping_hacks_-_authentication__new_or_reset_phones_49Bookkeeping
No tax deductions if you don't meet your tax obligations2018Aspen CorporateNew laws passed by parliament last month directly target the behaviour of taxpayers that don't meet their obligations.files/images/content/Newsletter/bigstock--211968226.jpgresources/reading_room/news_archives/no_tax_deductions_if_you_don_t_meet_your_tax_obligations50Tax,State and Federal Legislation/ Budgets
Contractor or employee? Defining workers in the gig economy2018Aspen CorporateA former Foodora Australia delivery rider, Joshua Klooger, recently won an unfair dismissal claim despite a service agreement that classified him as an independent contractor. We explore the implications of the case.files/images/content/Newsletter/bigstock-Milan-Italy--May-----Fo-212296090.jpgresources/reading_room/news_archives/contractor_or_employee__defining_workers_in_the_gig_economy51 
Tax on shares: ATO extends data matching program2018Aspen CorporateThe Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades.files/images/content/Newsletter/bigstock-Mature-man-with-paper-explaini-231945829.jpgresources/reading_room/news_archives/tax_on_shares__ato_extends_data_matching_program52Tax
Bookkeeping Tip - Opening multiple files at the same time2018David ScottDo you find you need to open multiple files at the same time?files/images/content/Newsletter/FB_Bookkeeping hacks - Openng mulitple files at the same time.jpgresources/reading_room/news_archives/bookkeeping_hack_-_opening_mulitple_files_at_the_same_time53Bookkeeping
Merry Christmas and a Happy & Prosperous New Year2018Sergio Di VincenzoChristmas means different things to all of us. Whether it be religious beliefs, celebrations with family & friends, gifts, holidays or Father Christmas, it is a great time of the year to wind down, enjoy life and be thankful for what we have.files/images/content/Newsletter/bigstock-Christmas-Tree-On-The-Beach-Ea-216353413.jpgresources/reading_room/news_archives/merry_christmas_201854 
What changed on 1 Jan 20192019Aspen CorporateWhat changes did the 2019 New Year bring with it?files/images/content/Newsletter/bigstock-Vintage-Metal-Analog-Alarm-Clo-92214785.jpgresources/reading_room/news_archives/what_changed_on_1_jan_201955State and Federal Legislation/ Budgets
Tax warning on overseas income2019Aspen CorporateDo you earn income overseas? A recent case highlights why you might pay more tax than you thought on foreign income.files/images/content/Newsletter/bigstock-Investing-On-Property-2876142.jpgresources/reading_room/news_archives/tax_warning_on_your_overseas_income56Tax
You've been scammed, hacked or breached!2019Aspen CorporateAnother year, another scam. While data driven crime is more sophisticated and difficult to address than ever, human error and judgement remains one of the major problems.files/images/content/Newsletter/bigstock--153602849.jpgresources/reading_room/news_archives/you_ve_been_scammed__hacked_or_breached_57Business Advisory
Is your business eligible for the new Cyber Security Small Business Program?2019Domenic TartagliaAt the end of last year the Small Business and Family Enterprise Ombudsman, Kate Carnell, announced that small businesses with 19 or less employees would have access to a grants for certified cyber security health checks.files/images/content/Newsletter/bigstock--205059931.jpgresources/reading_room/news_archives/cyber_security_small_business_program58Business Advisory
What would happen if…2019Rob Lo PrestiLife does not always go to plan. While we logically know that, most of us don't plan for the worst - it's all a bit morbid and time consuming.files/images/content/Newsletter/bigstock-Mature-couple-doing-family-fin-141353021.jpgresources/reading_room/news_archives/what_would_happen_if59Growth & Wealth Management
Changes to deductions for non-compliant payments to workers2019Domenic TartagliaAs of 1 July 2019, businesses will only be able to claim deductions for payments made to workers when they've met the pay as you go (PAYG) withholding obligation for that payment.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/changes_to_deductions_for_non-compliant_payments_to_workers60Tax,Bookkeeping
Single touch payroll extended to all employers2019David ScottFrom 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include certain salary sacrificed amounts.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/single_touch_payroll_extended_to_all_employers61Bookkeeping,State and Federal Legislation/ Budgets
Legislation in limbo2019Aspen CorporateA budget, an election and the legislation that hasn't made it through. The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation.files/images/content/Newsletter/bigstock--195237403.jpgresources/reading_room/news_archives/legislation_in_limbo62State and Federal Legislation/ Budgets
Benefits during emergencies exempt from FBT2019Aspen CorporateIf your business assists employees during an emergency, for example floods, bushfires etc., then fringe benefits tax is unlikely to apply to the assistance you provide.files/images/content/Newsletter/bigstock-Rescue-Helping-Gesture-Or-Han-261193726.jpgresources/reading_room/news_archives/benefits_during_emergencies_exempt_from_fbt63Tax,Business Advisory
International Women's Day: Has anything changed?2019Aspen CorporateWomen and girls make up just over half (50.7%) of the Australian population. While women comprise roughly 47% of all employees in Australia, they take home on average $251.20 less than men each week (full-time adult ordinary earnings). The national gender "pay gap" is 15.3% and it has remained stuck between 15% and 19% for the past two decades.files/images/content/Newsletter/bigstock--219109840.jpgresources/reading_room/news_archives/international_women_s_day__has_anything_changed_64Growth & Wealth Management
Where do you store your Will?2019Domenic TartagliaOnce you have taken the time to write your will and have it witnessed, it is important to consider how and where you store your will. An option to consider is the WA Will Bank.files/images/content/Newsletter/bigstock-A-businessman-explaining-to-a--284241745.jpgresources/reading_room/news_archives/where_to_store_your_will_65Growth & Wealth Management
FBT Exempt vehicles2019Aspen CorporateOne of the most common fringe benefits provided to employees is the use of a company vehicle. The Australian Tax Office (ATO) has recently released new guidelines for fringe benefits tax on exemptions to motor vehicles.files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/fbt_exempt_vehicles66Tax
Bookkeeping tip - Reckon Coding Bank Transactions2019David ScottThe Reckon One bank transactions coding process has changed, which has implications for those who use bank feeds.files/images/content/Newsletter/Aspen Square - reckon bank transactions (004).jpgresources/reading_room/news_archives/bookkeeping_tips__reckon_coding_bank_transactions67Bookkeeping
ATO doubles rental deduction audits2019Aspen CorporateIn the 2017-18 financial year, more than 2.2 million Australians claimed over $47 billon in deductions and the Australian Taxation Office (ATO) thinks that is too much - one in ten is estimated to contain errors.files/images/content/Newsletter/bigstock-A-Bag-With-Money-And-The-Word--297247843.jpgresources/reading_room/news_archives/ato_doubles_rental_deduction_audits68Tax
PPSA and the '7-year itch'2019PPSAdvisoryThe Personal Property Securities Act is all about protecting suppliers from the insolvency of their customer. For far too long, suppliers of goods/equipment have been treated as unsecured creditors when their customer's collapse, leaving them at the end of a very long line of other creditors and with little likelihood of recovering what they are owed.files/images/content/Newsletter/bigstock-Ring-binders-on-a-safe-deposit-128301350.jpgresources/reading_room/news_archives/ppsa_and_the_seven_year_itch69Business Advisory
Budget 2019-20: The pre-election announcements that are now law2019Aspen CorporateThe Federal Budget announced a series of measures, some of which were legislated before the election was called.files/images/content/Newsletter/bigstock--165442280.jpgresources/reading_room/news_archives/budget_2019-20__the_pre-election_announcements_that_are_now_law70Tax,State and Federal Legislation/ Budgets
How to Prepare for a Tax Office Visit2019Aspen CorporateThe Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy.files/images/content/Newsletter/bigstock-Amsterdam-The-Netherlands--J-248684932.jpgresources/reading_room/news_archives/how_to_prepare_for_a_tax_office_visit71Tax,Accounting
Tax Time: Your Trust2019Aspen CorporateTrustees (or directors of a trustee company) need to consider and decide on the distributions they plan to make by 30 June 2019 at the latest (the trust deed may actually require this to be done earlier). And Has your trust lodged TFN reports for all beneficiaries?files/images/content/Newsletter/bigstock-Mature-couple-doing-family-fin-141353021.jpgresources/reading_room/news_archives/your_trust72Tax
Tax Time: Your Superannuation2019Aspen CorporateNot making your full superannuation contribution? Now you can catch upfiles/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/your_superannuation73Tax,Superannuation
Tax Time: For you2019Aspen CorporateWork related deductions, Cryptocurrency, Rental property deductions and Earning money from the sharing economyfiles/images/content/Newsletter/_DSF84323.jpgresources/reading_room/news_archives/for_you74Tax
Tax Time: Your Business2019Aspen CorporateThere are around 3.8 million small businesses, including 1.6 million sole traders in Australia. They employ around 5.5 million people and contribute $380bn to the economy. Small business is also in debt to the ATO to the tune of $15bn.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/your_business75Tax
Live reporting through Single Touch Payroll2019Aspen CorporateSingle touch payroll (STP) reporting has changed the way businesses report salary and wages, PAYG withholding and superannuation contribution information to the ATO.files/images/content/Newsletter/David and Bernie looking off camera.jpgresources/reading_room/news_archives/live_reporting_through_single_touch_payroll_76Bookkeeping
Super, insurance and exit fees: The 1 July changes2019Aspen CorporateFrom 1 July 2019, new laws prevent superannuation providers from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances will be moved to the ATO to try and unite the unclaimed super with its owner.files/images/content/Newsletter/bigstock-Mother-and-daughter-leading-th-262017376 - Copy.jpgresources/reading_room/news_archives/super__insurance_and_exit_fees__the_1_july_changes77Superannuation
Single touch payroll: reporting deadline extension, and an exemption for directors and family members2019Aspen CorporateThe ATO has extended the deadline for employers with 19 employees or less; and has provided a concession from single touch payroll for payments by small employers to "Closely Held Payees".files/images/content/Newsletter/_DSF84043.jpgresources/reading_room/news_archives/single_touch_payroll_exemption_for_directors_and_family_members78Bookkeeping
Who owns the assets of a trust?2019Aspen CorporateIt's not uncommon for people to put assets such as their family home into a trust, particularly professionals working in litigious fields or family groups wanting to protect assets. A recent case highlights some of the tax problems that can occur.files/images/content/Newsletter/bigstock-Investing-On-Property-2876142.jpgresources/reading_room/news_archives/who_owns_the_assets_of_a_trust_79Tax,Business Advisory,Growth & Wealth Management
Laundry expenses hung out to dry2019Aspen CorporateThe ATO is airing the 'dirty laundry' on work-related clothing and laundry expenses warning that it is closely reviewing claims.files/images/content/Newsletter/washing uniforms.jpgresources/reading_room/news_archives/laundry_expenses_hung_out_to_dry80Tax
New pay rates from 1 July2019Aspen CorporateNew pay rates came into effect from 1 July 2019 with the minimum wage increasing by 3% from the first full pay period.files/images/content/Newsletter/bigstock-Wooden-Blocks-With-Coins-And-T-284171986.jpgresources/reading_room/news_archives/new_pay_rates_from_1_july_81Bookkeeping
Bookkeeping Tip - what to include on your pay slip2019David ScottSuperannuation contributions and tax deductions need to be listed on payslips, it's a common error to make.files/images/content/Newsletter/FB Bookkeeping Tip - what to include on your pay slip.jpgresources/reading_room/news_archives/bookkeeping_tip_-_what_to_include_on_your_pay_slip82Bookkeeping
60,000 tax cheat tip-offs2019Aspen CorporateTip-offs to the Australian Taxation Office (ATO) have reached an all-time high with close to 60,000 tip-offs received between June and May 2019 – almost double the number of the previous year. The ATO thinks the number of tip-offs will reach around 70,000 for the full financial year.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/60_000_tax_cheat_tip-offs_83Tax
Confusion over personal income tax changes – what are you really entitled to?2019Aspen CorporateThe recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The Australian Taxation Office (ATO) has been inundated with calls from taxpayers wanting to know where their money is and how they can access the $1,080 they now believe is owing to them.files/images/content/Newsletter/Small/bigstock--189167098 small.jpgresources/reading_room/news_archives/confusion_over_personal_income_tax_changes___what_are_you_really_entitled_to_84Tax,State and Federal Legislation/ Budgets
'Proof of life' certificates required for overseas pensioners2019Aspen CorporateOne of the stranger pieces of legislation to be introduced into Parliament last month is an attempt to ensure that overseas welfare recipients over the age of 80 are in fact, alive.files/images/content/Newsletter/Small/bigstock-Old-couple-doing-exercises-in--24141350 small.jpgresources/reading_room/news_archives/_proof_of_life__certificates_required_for_overseas_pensioners85Growth & Wealth Management,State and Federal Legislation/ Budgets
Why the Government does not want your business accepting cash payments of $10,000 or more2019Aspen CorporateFrom 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*.files/images/content/Newsletter/bigstock--193878688.jpgresources/reading_room/news_archives/why_the_government_does_not_want_your_business_accepting_cash_payments_of__10_000_or_more86Accounting,Business Advisory,State and Federal Legislation/ Budgets
FBT and Uber style ride sharing2019Aspen CorporateWhen an employee uses a taxi service for travel to or from work or if the employee is sick, it is generally exempt from Fringe Benefits Tax (FBT) under the FBT taxi travel exemption.files/images/content/Newsletter/bigstock--185246098.jpgresources/reading_room/news_archives/fbt_and_uber_style_ride_sharing87Tax
Tax treatment of compensation from financial institutions2019Aspen CorporateBy 30 June 2019, five major financial institutions paid $119.7 million in compensation for poor financial advice to 6,318 customers. The question is, how are these payments treated for tax purposes?files/images/content/Newsletter/bigstock--211968226.jpgresources/reading_room/news_archives/tax_treatment_of_compensation_from_financial_institutions88Tax
Weirdest tax deductions revealed2019Aspen CorporateWould you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation Office's 2018-19 list of most unusual claims.files/images/content/Newsletter/Small/bigstock-Tambov-Russian-Federation--J-291055204 small.jpgresources/reading_room/news_archives/weirdest_tax_deductions_revealed89Tax
ATO take 'gloves off' on overseas income2019Aspen CorporateFive years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the ATO has again flagged that underreporting of foreign income is an issue but this time the gloves are off.files/images/content/Newsletter/Small/bigstock--139803842 small.jpgresources/reading_room/news_archives/ato_take__gloves_off__on_overseas_income90Tax
Are all your SMSF eggs in one basket?2019Aspen CorporateThe investment strategies of Self Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about a lack of asset diversity.files/images/content/Newsletter/Small/bigstock-Mature-couple-doing-family-fin-141353021 small.jpgresources/reading_room/news_archives/are_all_your_smsf_eggs_in_one_basket_91Growth & Wealth Management,Superannuation
Rental property expenses - what you can and can't claim2019Aspen CorporateIt's not uncommon for landlords to be confused about what they can and can't claim for their rental properties. What often seems to make perfect sense in the real world does not always make sense for the Australian Tax Office (ATO).files/images/content/Newsletter/Small/bigstock-A-Bag-With-Money-And-The-Word--297247843 small.jpgresources/reading_room/news_archives/rental_property_expenses_-_what_you_can_and_can_t_claim92Tax,Growth & Wealth Management
The $11.1bn small business tax shortfall2019Aspen CorporateLast month, the ATO released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated 'tax gap'.files/images/content/Newsletter/Small/bigstock-Australian-Company-Tax-Return-68721448 small.jpgresources/reading_room/news_archives/the__11.1bn_small_business_tax_shortfall_93Tax
Are you protected against invoice scams?2019Domenic TartagliaCan your business afford to lose $50,000?files/images/content/Newsletter/Small/bigstock-Scam-Alert-Detecting-Warning--265542484 small.jpgresources/reading_room/news_archives/invoice_fraud94Bookkeeping,Growth & Wealth Management
BOOKKEEPING TIP: Are you keeping your receipts for long enough?2019David ScottAn Adelaide operator of a number of massage parlours said he was "too busy and lazy" to keep proper records, and was penalised $43,200 for contraventions of record-keeping and pay slip laws, following legal action by the Fair Work Ombudsman.files/images/content/Newsletter/Small/Bookkeeping tip layout - small.jpgresources/reading_room/news_archives/bookkeeping_tip__are_you_keeping_your_receipts_for_long_enough_95Bookkeeping
Tax alert: Distributions to non-resident beneficiaries2019Aspen CorporateThe ATO's recently released interpretation of the tax treatment of capital gains distributed by an Australian discretionary trust to non-resident beneficiaries will have a significant negative impact for some.files/images/content/Newsletter/Small/bigstock--205682026 small.jpgresources/reading_room/news_archives/tax_alert__distributions_to_non-resident_beneficiaries96Tax
Towards Zero Interest Rates (and what it means to you)2019Aspen CorporateThe Reserve Bank of Australia is widely tipped to reduce interest rates again to historic lows. Easton Wealth economist Emmanuel Calligeris explores the impact.files/images/content/Newsletter/Small/bigstock--221969701 small.jpgresources/reading_room/news_archives/towards_zero_interest_rates__and_what_it_means_to_you_97Business Advisory,Growth & Wealth Management
Super Guarantee Amnesty Resurrected2019Aspen CorporateThe Government has resurrected the Superannuation Guarantee (SG) amnesty giving employers that have fallen behind with their SG obligations the ability to "self-correct." This time however, the incentive of the amnesty is strengthened by harsh penalties for those that fail to take action.files/images/content/Newsletter/Small/bigstock--Super small.jpgresources/reading_room/news_archives/super_guarantee_amnesty_resurrected98Growth & Wealth Management,Superannuation
Pay your invoices via our website using our NEW Payment Gateway2019Bernadette SmithWe have updated how you can pay invoices via our website.files/images/content/Newsletter/Small/bigstock-Mature-man-with-spectacles-and-277946896.jpgresources/reading_room/news_archives/pay_your_invoices_via_our_website_using_our_new_payment_gateway99 
CGT and the family home: expats and foreigners targeted again2019Aspen CorporateThe Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will impact on expats and foreign residents.files/images/content/Newsletter/bigstock-Modern-Home-At-Dusk-70510666.jpgresources/reading_room/news_archives/cgt_and_the_family_home__expats_and_foreigners_targeted_again100Tax,Growth & Wealth Management,State and Federal Legislation/ Budgets
Vacant land deduction changes hit 'Mum & Dad' property developments2019Aspen CorporateLegislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.files/images/content/Newsletter/bigstock-Serious-Asian-Senior-Couple-Th-317589490 small.jpgresources/reading_room/news_archives/vacant_land_deduction_changes_hit__mum___dad__property_developments_1001Tax,State and Federal Legislation/ Budgets
Calculating Super Guarantee: The new rules2019Aspen CorporateFrom 1 July 2020, new rules will come into effect to ensure that an employee's salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer.files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/calculating_super_guarantee__the_new_rules102Bookkeeping,Superannuation
Can the tax office take money out of your account? Your right to know2019Aspen CorporateYou might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. The question is, do you really know what powers the ATO have?files/images/content/Newsletter/Small/bigstock-Australian-Company-Tax-Return-68721448 small.jpgresources/reading_room/news_archives/can_the_tax_office_take_money_out_of_your_account__your_right_to_know103Tax
Are you paying your staff correctly? Woolworths' $200m plus remediation2019Aspen CorporateWoolworths is the latest company to face a fallout from the underpayment of staff. In what is believed to be the largest remediation of its kind, Woolworths have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (before tax).files/images/content/Newsletter/bigstock-Sydney-Australia--------325242166 small.jpgresources/reading_room/news_archives/are_you_paying_your_staff_correctly__woolworths__200m_plus_remediation_104Accounting,Bookkeeping
Australia embraces Black Friday and Cyber Monday2019Aspen CorporateThe Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year.files/images/content/Newsletter/Small/bigstock-Happy-woman-making-payment-onl-290448745 small.jpgresources/reading_room/news_archives/australia_embraces_black_friday_and_cyber_monday105Business Advisory
5 things that will make or break your business's Christmas2019Aspen CorporateThe countdown to Christmas is now on and we're in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. This dislocation and volatility mean that it is not 'business as usual' and for many businesses, it is the change that causes the problem.files/images/content/Newsletter/bigstock-proud-family-business-partners-15610502.jpgresources/reading_room/news_archives/5_things_that_will_make_or_break_your_business_s_christmas106Business Advisory
Bushfire relief from ATO obligations2019Aspen CorporateThe ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes.files/images/content/Newsletter/bigstock-Serious-Asian-Senior-Couple-Th-317589490 small.jpgresources/reading_room/news_archives/bushfire_relief_from_ato_obligations107Tax,State and Federal Legislation/ Budgets
Super guarantee opt-out for employees with multiple employers2019Aspen CorporateEmployees with multiple employers can now opt-out of superannuation guarantee from all but one employer. Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens if you are an employee with multiple employers?files/images/content/Newsletter/bigstock--Super.jpgresources/reading_room/news_archives/super_guarantee_opt-out_for_employees_with_multiple_employers108Superannuation
The Super Guarantee timing trap for employers2019Aspen CorporateHow employers are being caught out by the timing of superannuation guarantee payments.files/images/content/Newsletter/Small/_DSF83103.jpgresources/reading_room/news_archives/the_super_guarantee_timing_trap_for_employers109Superannuation
Government to shut down AUSkey by late March 20202020Domenic TartagliaSetting up myGovID - The government will cease using AUSkey to transaction with their online services by late March 2020. From 25 January 2020, myGovID will become the default login option for the online services for agents and clients who access the business tax portal.files/images/content/Newsletter/Small/_DSF82933 - small.jpgresources/reading_room/news_archives/government_to_shut_down_auskey_by_late_march_2020110Tax,Bookkeeping,State and Federal Legislation/ Budgets
CGT and the family home: expats and foreigners excluded from tax exemption2020Aspen CorporateLate last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the impact.files/images/content/Newsletter/Small/bigstock-Australian-Money-With-Passport-88642001.jpgresources/reading_room/news_archives/cgt_and_the_family_home__expats_and_foreigners_excluded_from_tax_exemption111Tax,Accounting
Bushfire support and assistance2020Aspen CorporateTen million hectares, lives lost, wildlife on the brink, billions in lost revenue and clean-up costs. For many, returning life to normal is a long way off this summer. We summarise the help available to those impacted by the bushfires.files/images/content/Newsletter/Small/bigstock-Composition-About-Australian-W-343659112.jpgresources/reading_room/news_archives/bushfire_support_and_assistance112Tax,State and Federal Legislation/ Budgets
ATO targets 'lifestyle' assets2020Aspen CorporateThe ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts.files/images/content/Newsletter/Small/bigstock-Aerial-View-By-Drone-Of-Yacht--315489502.jpgresources/reading_room/news_archives/ato_targets__lifestyle__assets113Tax
Alerts to protect SMSFs from fraud2020Aspen CorporateA new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the authorised contact and members.files/images/content/Newsletter/Small/bigstock-Happy-mature-business-man-sitt-279235975.jpgresources/reading_room/news_archives/alerts_to_protect_smsfs_from_fraud114Superannuation

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