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About Helen Tsirmiris

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So far Helen Tsirmiris has created 150 blog entries.

Non-compete clauses and worker restraints under review

A new issues paper from Treasury’s Competition Review questions whether non-competes and other restraints are limiting job opportunities and movement.

A recent Australian Bureau of Statistics(ABS) survey found that 46.9% of businesses surveyed used some kind of restraint clause, including for workers in non-executive roles. The survey also found 20.8% of […]

By |12 April, 2024|Business|Comments Off on Non-compete clauses and worker restraints under review

How much is my business worth?

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart?

Every business owner is naturally curious about just how much their business is […]

By |12 April, 2024|Business|Comments Off on How much is my business worth?

The assault on professional services

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax.

Two new cases before the Administrative Appeals Tribunal demonstrate how serious the Australian Taxation Office (ATO) is about making sure professional services firms – lawyers, accountants, architects, medical practices, engineers, architects etc., […]

By |12 April, 2024|Tax|Comments Off on The assault on professional services

Budget 2024-25

The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero.

According to election guru Antony Green, the window for the next election starts on Saturday, 3 August […]

By |12 April, 2024|Federal Budget|Comments Off on Budget 2024-25

Warning on SMSF asset valuations

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.

ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these assets residential or commercial Australian property, you can […]

By |10 April, 2024|SMSF|Comments Off on Warning on SMSF asset valuations

Getting back what you put in: Loans to get a business started

It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications.

A case […]

By |18 March, 2024|Business|Comments Off on Getting back what you put in: Loans to get a business started

How to take advantage of the 1 July super cap increase

From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change.

The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional […]

By |15 March, 2024|Superannuation|Comments Off on How to take advantage of the 1 July super cap increase

The ATO Debt Dilemma

Late last year, thousands of tax payers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed.

The ATO can only release a taxpayer from a tax debt in […]

By |15 March, 2024|Tax|Comments Off on The ATO Debt Dilemma

Contractor or employee?

Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes, new guidance from the ATO warns.

Where there is a written contract, the rights and obligations of the contract need to support that an independent […]

By |5 February, 2024|Business|Comments Off on Contractor or employee?

Can my SMSF invest in property development?

Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems that often […]

By |2 February, 2024|Property Investment, SMSF|Comments Off on Can my SMSF invest in property development?
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