Registering an SMSF for an ABN Gavin: The ATO has provided the following advice regarding registering a SMSF for an ABN. The guidance is probably most relevant where a person aged over 65, who is not working, wishes to set up a new SMSF and roll over into that SMSF an amount from another fund. If […]
The ATO’s new approach to dispute resolution
The ATO’s new approach to dispute resolution According to the Commissioner of Taxation, Chris Jordan, the ATO has put in place a number of strategies to resolve disputes as early as possible, in a way that is “less painful, less costly and better for participation in the system in the long run”. “We’ve also increased […]
Check Out The ATO’s apps plus other online tools
Check Out The ATO’s apps plus other online tools As a result of user feedback, the ATO has improved their ATO Small Business app and it continues to expand in functionality and usability. Check Out The ATO’s apps plus other online tools by visiting the ATO website. The most useful features for small business include: ¨ […]
Rise in the preservation age
Rise in the preservation age Before an SMSF starts paying a transition to retirement income stream (TRIS) to a member, the member must have reached their preservation age. From 1 July 2015, the legislated rise in the preservation age, which is now based on date of birth, comes into effect. It applies to anyone born […]
A million in the super fund won’t be enough for retirement
By Bottrell Group on August 24, 2015 in Hints & Tips, Interesting Articles, Motivation, Uncategorized
A million in the super fund won’t be enough for retirement A 30-year-old worker on an average salary of $60,000 a year would have an estimated $1.1 million in superannuation at age 65 in 2048. However, according to Russell Mason, $1.1 million would sustain a comfortable retirement only until age 77. For a comfortable retirement, […]
Award Sponsor at Hunter Safety Awards 2015
Award Sponsor at Hunter Safety Awards 2015 Bottrell Business Consultants are pleased to announce we are sponsoring The Hunter Safety Awards. Work, health and safety are fundamental to our lives and is now, more than ever, a central focus for organisations. The Hunter region is well-known for leading the way in industry, this in turn […]
IGT Reaches Out to Punters to work Out Where to Go
IGT Reaches Out to Punters to work Out Where to Go The Inspector-General of Taxation (IGT), Ali Noroozi, has announced that he will now consult the public to develop his new work program for 2014 and beyond, inviting all interested parties to have a say. “My work program seeks to target areas that potentially provide […]
June 2014 Super Update from the ATO
June 2014 Super Update from the ATO On 12 March 2014, new privacy laws came into effect and mainly relate to what we do when we collect personal information. These amendments affect how we collect, store, provide access to and disclose personal information. This includes information that is provided to us from third parties including […]
Early ATO warning – franked distributions funded by capital raisings
Early ATO warning – franked distributions funded by capital raisings The ATO is considering its position on the recent transactions of some public companies involving franked distributions (by way of special dividends or otherwise) which are funded by equity raisings. We have some concerns about these types of arrangements and a taxpayer alert will be […]
Early access to super for people with terminal illness
Early access to super for people with terminal illness The Assistant Treasurer has announced that, from 1 July 2015, the government will amend the provision for accessing superannuation for people suffering a terminal illness. This has proven difficult for some people, including women with secondary breast cancer diagnosis. Understandably, they want access to their money […]
Benefits of Having YouTube for Your Business
Benefits of Having YouTube for Your Business YouTube is an online video hosting service that lets people share their videos. Businesses and individuals use YouTube to share or find videos, including entertainment, promotions and instructions. Because of its popularity and features, YouTube can be a useful marketing channel for businesses. Your business can use YouTube to […]
Benefits of using Flickr for your Business
Benefits of using Flickr for your Business Flickr (pronounced “flicker”) is an image hosting and video hosting website, and web services suite that was created in 2004 and acquired by Yahoo in 2005. In addition to being a popular website for users to share and embed personal photographs, and effectively an online community, the service is widely used by photo researchers […]
Benefits of using Instagram for your Business
Benefits of using Instagram for your Business Instagram is a fun and quirky way to share your life with friends through a series of pictures. Snap a photo with your mobile phone, then choose a filter to transform the image into a memory to keep around forever. We’re building Instagram to allow you to experience […]
Benefits of LinkedIn Account for your Business
Benefits of LinkedIn Account for your Business LinkedIn is a social networking site designed specifically for the business community. The goal of the site is to allow registered members to establish and document networks of people they know and trust professionally. A LinkedIn member’s profile page, which emphasizes employment history and education, has professional network […]
Why is A Business Cash Flow Important?
Why is A Business Cash Flow Important? A small business cash flow determines its future. If the business has enough cash it will thrive, if it does not have cash it will collapse. A cash flow statement shows the exact amount you are making. Cash on hand can let you do the following; Pay your […]
