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BT Corporate Advisory Pty Ltd

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25.01.2022 Today we launched our new and improved desktop website with enhanced functionalities. To access go to http://www.btcorporateadvisory.com.au from your Desktop device. Mobile phone users will be automatically redirected to our Mobile website which was launched earlier this month. Happy Browsing everyone!

24.01.2022 The February 2014 Issue of InForm Accounting and Taxation http://www.btcorporateadvisory.com.au/Feb2014.pdf

24.01.2022 Busy day at the office. #tax #GST #Super #SMSF #CompanyTax #PropertyTax #NegativeGearing #TaxReturns

24.01.2022 L'Shana Tova 5775

24.01.2022 Melbourne Cup Day 2015 Edition of InForm Accounting and Taxation is available now from our website:

24.01.2022 Welcome to the Autumn 2017 Edition of InForm Accounting and Taxation. Download here: http://btcorporateadvisory.com.au/tax_newsletter.php

23.01.2022 FURTHER 'AFFORDABLE HOUSING' MEASURES PASSED Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS), and also allowing older Australians to 'downsize' and then contribute the proceeds of the sale of their family home into superannuation. From 1 July 2018, a first home buyer will be able to withdraw voluntary superannuation contributions they have made since 1 July 2017 (up ...to $30,000 each, with individuals being able to contribute up to $15,000 a year within existing caps), along with a deemed rate of earnings, to help buy their home. Also, from 1 July 2018, when Australians aged 65 and over sell a home they have owned for at least 10 years, they may contribute up to $300,000 from the proceeds into their superannuation accounts, over and above existing contribution restrictions. Both members of a couple may take advantage of this measure, together contributing up to $600,000 from the proceeds of the sale into superannuation.

23.01.2022 InForm Accounting and Taxation: e-news bulletin brought to you by BT Corporate Advisory P/L.

23.01.2022 A beautiful gift sent today to one of our valuable clients who just had their first baby girl! Congratulations on the birth of your new baby! May she bring you many years of sugar, spice and all things nice.

22.01.2022 The February 2014 Issue of InForm Accounting and Taxation is out now. In this issue: - Coalition tax changes expenses cap delayed - GST on buying and selling second-hand goods - Almost carrying on a share trading business - Tax treatment of deceased estates

21.01.2022 Congratulations to our new senior accountants Gavi and Rachel on graduating with commerce (accounting major) degrees

21.01.2022 While many people think they understand the existing tax regulations, myths and misconceptions still abound. In this article, we aim to address some of the more common tax questions.

20.01.2022 Knowing what questions to ask your accountant can be difficult; these ten questions will help get you started today.

19.01.2022 How to Scale your Business with Janine Allice During this event, held at MCG last week, Janine Allis shared her story on how she scaled her small business into an international franchise, giving you tools, tips and tricks that you can implement immediately to set up your business to scale. This was a great opportunity to hear from an amazing businesswoman with expert advice and to network with like-minded business owners that are on the same path.... Visit the page to read more: http://www.btcorporateadvisory.com.au/archives.php

18.01.2022 Beautiful Artwork on the walls of our reception by our talented and valuable client Sean Diamond. Thank you Sean for the fantastic pieces that transformed our reception into a stylish lounge. More work by Sean Diamond here http://www.sdkineticstudios.com. Facebook page here: https://www.facebook.com/SeanDiamondArt

18.01.2022 Congratulations to our talented clients Tania Doko and James Roche of Bachelor Girl on the release of their new music video Speak . #bachelorgirl #taniadoko https://youtu.be/CXDDGEkt19Y

17.01.2022 The March 2014 Issue of InForm Accounting and Taxation is Out now Welcome to the March 2014 Issue of InForm Accounting and Taxation. In this Issue: - Anti-workplace bullying regime; - You don't lose everything: what the trustee acquires in a bankruptcy;... - Gifting to business clients; https://www.facebook.com/btcorporateadv/app_174225559282949

15.01.2022 ### Imposition of GST on 'low-value' foreign supplies ### Parliament has passed legislation which applies GST to goods costing $1,000 or less supplied from offshore to Australian consumers from 1 July 2018. Using a 'vendor collection model', the law will require overseas suppliers and online marketplaces (such as Amazon and eBay) with an Australian GST turnover of $75,000 or more to account for GST on sales of low value goods to consumers in Australia.... The deferred start date gives industry participants additional time to make system changes to implement the measure.

15.01.2022 The January 2015 Issue of InForm Accounting and Taxation is out now. In this issue: - Christmas benefits - Business management for Christmas 2014 Click below to access the newsletter... To Subscribe to our Newsletter go to http://www.news.btcorporateadvisory.com.au/inform/

14.01.2022 InForm Accounting and Taxation: e-news bulletin brought to you by BT Corporate Advisory P/L

14.01.2022 Negative Gearing, Capital Gains and Tax The following videos from The ATO are just few examples of some topics that we will discuss with you in the meeting. https://youtu.be/ha3GotMHwPM

13.01.2022 The Team of BT Corporate Advisory Pty Ltd wishes you all the very best for the festive season and hope that it is a healthy, safe and happy one for you and your family!

12.01.2022 ATO is using SMS messages to try and clear debt The ATO has advised that it is using SMS and emails for promotional and information purposes. They say that, if individual taxpayers receive an SMS or email claiming to be from the ATO, they can check the list of the ATO's current activities (on its website at ATO Online Services) to verify that it's genuine.... However, ATO messages will never ask taxpayers to reply by SMS and/or email to provide personal information, such as the taxpayer's tax file number or their personal bank account number or BSB.

12.01.2022 #### GST applies to services or digital products bought from overseas ### From 1 July 2017, GST applies to imported services and digital products from overseas, including: - digital products such as streaming or downloading of movies, music, apps, games and e-books; and - services such as architectural, educational and legal.... Australian GST registered businesses will not be charged GST on their purchases from a non-resident supplier if they: - provide their ABN to the non-resident supplier; and - state they are registered for GST. However, if Australians purchase imported services and digital products only for personal use, they should not provide their ABN.

12.01.2022 ### Change to the way taxpayers claim work-related car expense deductions ### Currently, taxpayers have an option to use one of four methods to determine their work related car expense deductions. The government is proposing to reduce the number of methods by removing the '12% of original value method' and the 'one-third of actual expenses method'. ... These methods have been used by fewer than 2% of those who claim work-related car expenses. The other two methods, the 'cents per kilometre method' and the 'logbook method' are being retained. The 'cents per kilometre method' is also being changed by replacing the three current rates based on engine size with one rate set at 66 cents per kilometre, which applies to all motor vehicles. The government says that these changes will enable taxpayers who drive electric and hybrid vehicles to claim on a cents per kilometre basis, which is not currently an option for them. The amendments apply to the 2015/16 income year and later income years.

11.01.2022 ATO app for small business You can download the ATO app for access to Small business assist, useful calculators and tax information, when you are on the move. You can use the app to: - search Small business assist to find information on a range of topics and videos, and to book an after-hours call back with a small business specialist; - work out if a worker is an employee or a contractor for tax and super purposes;... - work out how much tax to withhold from their employees and other workers' pays; - see how a payment plan can help them to quickly pay off a tax debt. The ATO app can be downloaded through Google play, Apple App Store and Windows Phone Store. http://www.ato.gov.au/Individuals/Ind/ATO-Tax-2013-app/

11.01.2022 Happy Holidays! Wishing you a beautiful holiday season and a new year of peace and happiness! From all of us at BT Corporate Advisory.

10.01.2022 Perry and Commissioner of Taxation [2013] AATA 671 (20 September 2013) A new case highlighting importance of getting good tax advice! Principal area of tax: Income Tax ... Subordinate tax area: Unsubstantiated deductions, penalty Key section reference(s): section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997), ss 284-75, 284-90, 298-20 of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953) Key terms: shortfall, recklessness Key issues: Whether a penalty of 50 per cent of the tax shortfall imposed by the Commissioner was appropriate. The shortfall arose as a result of the disallowance of various unsubstantiated deductions claimed in the applicant’s tax return. The penalty was based on the Commissioner’s finding that the applicant had acted recklessly in making false or misleading statements which led to the tax shortfall. Result: The Tribunal was satisfied that the applicant’s conduct was more serious than mere failure to take reasonable care and that the 50 per cent penalty for reckless conduct under s 284-90 of the TAA 1953 was appropriate. There was no basis for the penalty to be remitted under s 298-20 of the TAA 1953. http://www.austlii.edu.au/au/cases/cth/AATA/2013/671.html

09.01.2022 Did you know? The passage of the Invalid and Old Age Pensions Act 1908 The passage of the Invalid and Old Age Pensions Act 1908 (the Act) established the basic principles for the provision of age pension including the rate of the age pension. The Act initially limited the eligibility for the age pension according to character, race, age, residency and means. Prior to 1910, age pensions were payable to both men and women at age 65. In 1910, the pension age for women was reduc...ed to 60 despite their longer life expectancy. These age thresholds remained unchanged until 1993, when provisions were made to increase the pension age for women to age 65. Currently women born before 1 January 1949 reach qualifying age at 64 and a half, and women born between 1 January 1949 and 30 June 1952 at age 65. The qualifying age for men born before 1 July 1952 is age 65. From 1 July 2017, the qualifying age for Age Pension will increase from 65 years to 65 and a half years with the qualifying age rising by six months every two years, reaching 67 by 1 July 2023. Source: Towards higher retirement incomes for Australians: a history of the Australian retirement income system since Federation

09.01.2022 New Internet Hoax Alert, Please SHARE!! Today I’ve received a phone call from a call centre. A woman told me that she was calling me on behalf of my Internet Service provider. She said that they are going to disconnect my internet at home for the following 6 months because somebody overseas found out my IP address and connected to my Wifi. Little did she know that she was talking to an IT expert. She needed further information about my credentials which I didn’t give her and ...instead I told her that I will report her to police if she calls again. After that I hanged up. Now, here is what really happened and why she called me: First of all it’s very easy to find out someone’s IP address. Every time you visit a web page your IP address is being recorded by a web server where this web page originates from. However, knowing someone’s IP address is not enough to connect to someone’s Wifi. To connect to a Wifi you need to be in the range and have a Wifi password. If you are from overseas then you will need a lot more to connect to someone’s router than just a stolen IP address, however most routers (modems) and computers are protected with a firewall and a password. I know for a fact that mine is and every attempt of inbound connection to my computer will be blocked. Which leads to the following conclusion, the credentials that the woman wanted from me were to enable her access my computer so they can look through my personal data, passwords and credit card information. She was indeed from a call centre, only not from my Internet Company as she was claiming to be. After I hanged up I called my Internet Service Provider to insure they are aware of this scam. They told me that there are no issues with my account. It’s definitely not going to be suspended for 6 months and there are no records of anyone calling me on that day from their customer service centre. So to conclude this I just would like to give computer users some tips on how not to become the victim of a computer related scam. First of all a Golden Rule no matter who calls you, no matter who they are claiming to be, NEVER EVER GIVE YOUR CREDENTIALS OVER THE PHONE, that includes your IP address, your Tax File number and your passwords. If you believe it’s your gas, internet, electricity, Tax Office, Bank or phone provider then hang up and call them back on their official numbers that are printed on your bills or on their websites. Insure that your Wifi is secured with a password, unless you are happy to share it with your neighbours. Make sure that the Fire Wall on your computer is ON. Make sure that in your Fire Wall settings all inbound connections are blocked, usually they are by default. Insure that your Anti-Virus software is enabled and up to date. Don’t follow links that come from untrusted sources. Hope this information will help someone to avoid a shipload of trouble!

05.01.2022 Happy New Financial Year 2019!!! #NewFinancialYear #BTcorporateadvisory

02.01.2022 Dear Friends We wish you all the very best for the festive season and hope that it is a healthy, safe and happy one for you and your family! After the break we will work harder than ever to add value to all your financial affairs and looking forward to catching up with you soon!... Warm Regards Boris, Tatiana, Isaac, Rachel, Natalie and Gavi The Team of BT Corporate Advisory Pty Ltd