The ATO released latest SMSF statistics The ATO has released its latest statistics on the SMSF sector. Assistant Commissioner Kasey Macfarlane said the annual Overview data shows that the sector continues to grow, with positive returns on assets and increasing fund and member numbers. In brief: In the five years to 2014/15, the number of […]
Data Matching on Insured Assets
Data Matching on Insured Assets The ATO has just announced that it is starting a new “asset” data matching protocol, and extending another CGT and rental protocol that has been running successfully for the last ten years. Data matching on insurance taken out on certain assets owned by “wealthier” taxpayers The ATO has advised that […]
Capital allowances
Capital allowances Capital allowances: effective life review for certain determinations in Table A of Taxation Ruling TR 2015/2 – review to begin We are reviewing certain determinations in Table A of Taxation Ruling TR 2015/2 – ‘the schedule’ to make new effective life determinations. You use effective lives to work out how much you can claim […]
Draft effective lives for depreciating assets
Draft effective lives for depreciating assets The ATO has developed and released for comment draft lists of effective lives for the following assets: assets used in scientific medical and pharmaceutical research; assets used at waste remediation and materials recovery facilities; assets used in the professional photography services industry; and railway rolling stock manufacturing and repair […]
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 […]
Super update from the ATO
Super update from the ATO Some SMSF statistics As at 30 September 2013, there were over 516,000 SMSFs holding around $531 billion in assets. Although SMSFs are nearing one million SMSF members (980,000), or 8% of the 11.6 million members of Australian super funds, they account for 31% of the $1.6 trillion total super assets […]
We Specialise in the Car Industry
We Specialise in the Car Industry If you’re looking for an accountant who specialises in the motor vehicle industry, then Bottrell Business Consultants is the firm for you. We have staff that actually have ‘hands on’ experience working within the Motor Industry. We understand that a dealership has many departments which are essentially run as […]
