If your not-for-profit (NFP) organisation has elected to pay and report its GST to the Australian Taxation Office (ATO) annually, you must do so by 28 February 2017. Your organisation can choose to report and pay GST annually as long as it: is not required to register for GST, and has not elected to pay GST by instalment amounts. Your…read more →
The team at Steven J Miller & Co would like to take this opportunity to wish you all the best for the holiday season and we look forward to working with you in 2017. The office will be closed from midday on 22 December 2016 and will re-open on Thursday 12 January 2017.
It’s easy to spend too much at Christmas. If you are splurging on clients, to be a legitimate business expense and therefore deductible, the expense has to be related to how your business generates income. So, excessive expenses may draw the attention of the regulators and the deduction denied. If you are hosting client functions, inviting them to lunch, or…read more →
Last week, the Australian Charities and Not-for-profits Commission launched the Australian Charities Report 2015. The Australian Charities Report 2015 is the third of its kind, however it is the first to compare findings with previous years. The 2015 report found that: Total income had grown 2% to over $134 billion Donations and bequests grew 2.4% to $11.2 billion There are…read more →
Changes to the association laws came into effect on 1 September 2016, including amendments made to the Associations Incorporation Act 2009 (the Act) and a new Regulation. The following is a summary of the key changes: An association is no longer required to reserve a name prior to making an application to register an association, or an application to change…read more →
In recognition that some small businesses needed extra time to get ready, the ATO has extended the time to make the changes and be SuperStream ready until 28 October 2016. There are a number of options a small business can choose to implement SuperStream: using a payroll system that meets the standard a super fund’s online system a messaging portal…read more →
On 1 September 2016, the Australian Institute of Company Directors (AICD) released the 2016 NFP Governance and Performance Study. The 2016 Study, entitled Raising the Bar, highlights the key themes, challenges and opportunities the not-for-profit sector is currently facing. Compiled from focus groups, one-on-one interviews and a survey of NFP Directors and Executives, the 2016 NFP Governance and Performance Study…read more →
With 30 June upon us, here are some last minute tax tips for your business. For full details, please refer to our End of Financial Year edition of Words of Wisdom. Timing of income Consider issues associated with the timing of income close to 30 June, such as: the time of billing work in progress; timing of sales income; and…read more →
The ATO App provides tax and superannuation help on the go! If you are individual taxpayer, small business owner or self-managed superannuation fund trustee, the app allows you to access relevant tax and superannuation information and tools in one place. The app includes a range of features such as: Enrol and use your voiceprint for fast, easy and secure access…read more →
It’s the final countdown to get ready for SuperStream and the Australian Tax Office (ATO) is urging small business yet to implement SuperStream to act now. All businesses, regardless of size must be compliant with SuperStream by 30 June 2016. SuperStream data is in a standard format to enable transmission consistently across the superannuation system – between employers, funds, service…read more →