Client Newsletter – November 2014

Welcome to our November newsletter, packed again with analysis on a range of taxation and reporting issues relevant to businesses and individuals.

This month we drill into current topics including:

  • 〉 The potential tax implications of Airbnb. It’s wildly popular and growing each day, but behind the attractive website and cheap holiday accommodation, Airbnb is a web of uncertain terms and loosely defined rental agreements. This month we tell you what you need to know.
  • 〉 The Australian Tax Office’s Project DO IT amnesty closes December 19. MWM director Mel Wear discussed this very issue with Gold Coast Bulletin business editor Jenny Rogers in a November 1 article for the Bully’s business section. Short version: the door is fast closing on the ATO’s current amnesty on undeclared foreign income and assets. MWM Advisory can help prepare the complex Project DO IT submission; contact us today for a confidential discussion.
  • 〉 Common mistakes and misconceptions around travel allowance. It’s a growing – but often overlooked area – as staffing requirements become more flexible and fluid. Its up to employers to get this right; this month we step you through the tricks and traps.

Please pick up the phone if you want to talk through turning anything in the newsletter to your advantage. As usual, we’re here to help.

 

For the full newsletter  CLICK HERE  〉

Celebrate the End of Financial Year with your team and ours

Celebrate the End of Financial Year with your team and ours

The End of Financial Year (EOFY) is upon us. For business owners, like you and I, there are many moving parts to be aware of. There are yearly financial statements to create, taxes to pay, deductions to claim, and documentation to submit to the ATO.

30 June is coming – what’s your game plan?

30 June is coming – what’s your game plan?

End of Financial Year Tax Planning. While Covid-19 and the uncertain business landscape it created made planning difficult, what we can say with certainty at MWM is that in our experience those who had a plan have navigated the past two years more successfully than those who didn’t.