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Advice from the desk of Simon Terry I have been helping clients recently with commercial leases they can’t afford, in premises they don’t need, for leases we didn’t discuss, locked in place by personal guarantees. So I have put together 10 tips of dos and don’ts: 1. Personal guarantees – don’t do it. Accountants create business structures to minimise personal risk so don’t undo our hard work. 2. How well… Read more
Want to know how the 2017-18 Budget affects your future tax position? Here’s the rub… The ATO is interested ATO audits of over 300 rental property claims found errors in 90% of returns. This means a huge potential loss of revenue for the ATO and fertile ground for tax reviews. This year, the Australian Taxation Office (ATO) will undertake 4,500 audits of taxpayers it considers are “high risk” because… Read more