Tax related oversights and innocent mistakes are quite common in an environment as specialized as the clubs industry. Left unchecked, these may translate into heavy penalties and substantial losses. This article outlines some of the more common issues and related remedies we encounter in our work with clubs. Goods and Services Tax (GST) and Clubs …
Continue reading “Clubs Industry & Tax. Common misconceptions”
How do you create certainty in uncertain times? Much of what we do personally to grow and protect our wealth, and commercially for the businesses we manage is subject to unpredictability and change. The answer is that there are no certainties in life – sorry about that. But, this doesn’t mean that you can’t take …
Does your self-managed superannuation fund (SMSF) own a motor vehicle, artwork, wine, coins, jewellery or other collectibles? More stringent rules for how these collectible and personal use assets are managed come into effect for all funds from 30 June 2016. While it’s important for all SMSFs to ensure that they are compliant with the rules, …
Continue reading “Deadline looms for SMSFs and collectibles”
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