Fuel tax credits for businesses

From 1 December 2011, the Federal Government’s excise or customs duty will apply to gaseous fuels used for transport purposes. As a result of these changes, the ATO will be offering fuel tax credits to any business which acquires, manufactures or imports duty paid gaseous fuels for use in eligible business activities. Tax credits will apply…

Effective time management

Time is money! So how can your businesses develop good time management skills and improve productivity? Identify the most important issues, and deal with them first. Sort jobs in order of importance and delgate them appropriately. Ensure that staff are able to deal with the jobs they are given. Make punctuality a company policy. Ensure…

New super reforms for SMSFs

In the 2011-2012 Federal Budget, the government announced a range of super reforms that would be introduced for self-managed super funds (SMSFs). These were designed to improve the super system and better safeguard the retirement savings of Australians. If passed by parliament, the following changes will into effect over the next couple of years: the…

GST fraudsters caught out

Goods and service tax (GST) fraudsters are more than likely than ever to be caught out  this year, as the ATO plans to increase its audits on GST refund claims by small businesses and  investigate cases of serious evasion. As a result of government funding, an extra 11,500 cases will be completed in the 2011-12…