News

The NSW Government has reformed the compulsory third party (CTP) insurance scheme. Part of these reforms that started on 1 December 2017 resulted in reduced costs of CTP Green Slips for vehicle owners and better support people injured on our roads. If you were the registered owner of a private vehicle as at midnight 30...

Single Touch Payroll is a reporting change for employers. It means employers will report payments such as salaries and wages, pay as you go (PAYG) withholding and super information to the ATO directly from their software payroll provider at the same time they pay their employees. Employers may need to update their payroll solution to report through Single Touch Payroll. For...

When the going gets tough, would you like to be in modern offices in Bondi Junction with access to gym, sauna, swimming pool and shower facilities? How does team building on ocean cruises and weekends to Byron Bay appeal to you? Do you want to develop your accounting career in a commercial environment? Do you...

Whether you are a sole trader or employer, claiming motor vehicle expenses in your tax return is an area we find clients are often misinformed as to their requirements on acceptable record keeping. As we are seeing increased scrutiny by the ATO in this area the information below should be of interest to those clients...

When it comes to planning the work Christmas party, there’s more to think about than just venue, entertainment and catering. You may want to consider if you’ll need to pay fringe benefits tax (FBT) when rewarding your employees with gifts or parties this Christmas. For your work Christmas party you’ll need to consider: how much...

At this time of year our retail clients, in particular, sell gift vouchers to Christmas shoppers which can be exchanged for good or services. However, we have found the correct tax treatment of these voucher sales are often misunderstood. When selling a gift voucher it is important to know when to report the GST for...

Intellectual Property (IP) is a new idea or invention that is commercially (or artistically) useful. IP is an important intangible asset that can complement the tangible assets of a business. It exists in various forms: a brand, new innovative product or process, design or piece of software. IP rights protect a business’s competitive point of...

Getting super right is an important part of being an employer. Likewise, as an employee, ensuring your employer is correctly paying your entitlement in a timely manner is also something to be considered. Unfortunately, we often see that during a cashflow crisis in a business, whether it be a short or long term problem, ceasing paying employee...

For many of our clients, especially those in hospitality, restaurants/cafe and retail, the summer months and especially the Christmas/New Year period is extra busy. If you are seeking to hire extra workers for this busy holiday season, it is important to get a few things straight first so you are not left with any costly...

At Quantum Partners we lodge hundreds of tax returns each year for clients who own investment properties. These may be residential or commercial properties and either wholly owned, jointly owned or via partnerships, family trusts or SMSFs. Below is a summary of tips to manage those properties and ensure the optimum tax results come tax time and also...