Spinell Group | Accounting, Financial Planning, Finance & Superannuation

MARKET SELL-OFF

In the last few days you would have noticed a stock market sell-off happening worldwide. Between January 29, 2018 and February 6, 2018 stock markets have fallen significantly, for example: Down Jones Industrial (USA) Down by 8.31% DAX (Germany) Down by 4.78% Nikkei (Japan) Down by 9.16% ASX (Australia) Down by 4.27% The sell-off started…

Would you take tax advice from a car salesman?

The attached article states that some car dealerships are providing unlicensed tax advice in relation to GST and depreciation in an effort to push clients into purchasing or entering into a financing agreement. We would suggest that you don't take tax advice from a car salesman and come see us (the professionals in tax advice)…

Are you ready for Single Touch Payroll? From 1st July 2018, employers with 20 or more employees will need to report payments such as wages, PAYGW and super directly to the ATO from their payroll program at the same time they pay their employees. You should ensure that your payroll program is (or will be)…

ATO Cancels the ABN’s of Thousands SMSF’s

The ATO has recently cancelled the ABN’s of over 9,000 Self-Managed Super Fund (SMSF) as part of its non – lodgement swoop. The reason behind cancellation of the ABN’s is because the SMSF’s have overdue tax returns and are therefore considered to be showing “no evidence of operating". The ATO will be contacting more SMSF…