Monthly Archives: April 2019

Tax facts explained

There are many things to think about when deciding if you need to register for GST. One of the main considerations is the ability to pass on GST to customers. (You don’t need to register until your annual income reaches $75,000.)
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Registering for GST could mean effectively taking a one eleventh price cut if the business deals with the public, and the price of its goods or services is set by market pressures. If your customers are other GST registered businesses, and they can claim any GST added to the current price charged, this could mean registering for GST is a good idea.

Q. I am on the cusp of having to register for GST as my income is almost at $75,000. Can you tell me if there are any advantages in registering for GST now before I have to? For example I am thinking about buying a new car, would I be able to claim the GST back on that? I have no problems charging my clients GST as they are all big companies and won’t care. I’m a bit frightened of the extra paperwork and may turn down business to remain under the threshold.

A. For a business like yours, where registering for GST will not mean a decrease in the actual sale proceeds received, it can make a lot of sense when high-priced assets such as motor vehicles need to be purchased. This is because you can claim the GST charged on the assets purchased, which helps reduce cash flow pressure.

The amount of GST you can claim on the purchase of the motor vehicle will depend on the method you use to claim your motor vehicle expenses. If you have not kept a log book and claim one third of the running costs of the vehicle, because you do more than 5000 business kilometres a year, you could only claim one third of the GST charged.

If you have a logbook that proves your business use is 100 per cent, or the vehicle being purchased is not primarily a passenger carrying vehicle and therefore will be classed as 100 per cent business use, you could claim all of the GST included in the purchase price.

Registering for GST does come at the cost of having to keep the records necessary to complete the quarterly BAS returns, but this could be a small price to pay to be able to claim the GST back on your business expenses.

If you don’t have a lot of business transactions there may not be a lot of work required and it would simply mean completing a cashbook. There are many of these available that have instructions on how to complete them. The actual work involved should not be too onerous. By keeping these records should also enable you to manage your business better, which can be another benefit of registering.

Questions on small business tax or other issues can be emailed to [email protected]南京夜网.au.

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Turnbull pressed on Coalition’s NBN upload speeds

Shadow Minister for Communications and Broadband Malcolm Turnbull and Communications Minister Senator Stephen Conroy in March. In an online debate on Monday Turnbull called Conroy a “grub”. Photo: Alex Ellinghausen Broadband row: Stephen Conroy. Photo: Andrew Meares
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An online debate between Malcolm Turnbull and Stephen Conroy on broadband policy has descended into sledging and personal attacks.

The Coalition’s communications spokesman, Mr Turnbull, mocked Senator Conroy’s deal-making, saying the Communications Minister had bungled his $12 billion negotiations to decommission Telstra’s copper telephone lines.

Senator Conroy replied by asking Mr Turnbull what advice he gave to former HIH Insurance boss Ray Williams, who was jailed after overseeing what was Australia’s biggest corporate collapse. Mr Turnbull was named in a $500 million damages claim brought by the liquidator of HIH (which was ultimately settled in his favour in 2003).

“You are so desperate that all you can do is smear,” Mr Turnbull said in the debate, hosted by technology news website ZDNet.

“You poor fellow… Such a grub, Stephen.”

Most of the NBN debate so far has focused on how quickly people can download movies under the different versions of the network but the question of how quickly Australians will be able to upload content using the Coalition’s network remained unanswered.

“Malcolm doesn’t want to talk about upload speeds because it’s like a wooden stake to a vampire,” Senator Conroy said.

Mr Turnbull’s network relies on Telstra’s ageing copper telephone lines, which offer only a fraction of the upload speeds possible under Labor’s more expensive network, which runs fibre optic cables all the way to homes.

Labor’s $37 billion NBN plan promises that 93 per cent of Australians will get fibre to the premises, which will offer download speeds of as fast as 1 gigabit per second and upload speeds of 400 megabits per second by 2021. The remaining 7 per cent of Australians living in rural and regional areas will get a mix of wireless and satellite technologies.

The Coalition’s $20 billion NBN runs fibre to cabinets or ”nodes” on street corners and would then piggyback on Telstra’s copper telephone lines to take the data over the last mile to the house. The Coalition’s NBN would be completed sooner, by 2019, but with slower minimum download speeds of 25 megabits per second and no guarantee of upload speeds.

Faced with repeated questioning, Mr Turnbull would not commit to a minimum upload speed but said there was “no technical barrier to having very high upload speeds”.

“The idea that you’ve got to have everyone on fibre to the premises to have a strong digital economy is nonsense,” Mr Turnbull said.

If the Coalition wins government, Mr Turnbull would instruct NBN Co to guarantee a 25 megabit per second download speed for every Australian household, and if necessary the company would build an extra series of “mini nodes” closer to houses to achieve the speeds, he said.

The debate turned briefly at one point towards media policy.

Mr Turnbull baited Senator Conroy about Labor’s recent failed attempt to regulate the media. Senator Conroy responded by asking Mr Turnbull whether he would commit to protecting the funding of the public broadcasters, ABC and SBS.

“I can’t give an undertaking in a budgetary context that’s been left in a mess,” Mr Turnbull replied.

“There’s certainly not any policy to cut from the ABC or SBS. But if there’s a broader austerity… all departments might have to do the same.”

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IVF parents lose $10m wrongful birth case, hit with legal costs

Debbie Waller with her disabled son Keeden. Photo: Quentin JonesThe parents of a severely disabled boy have lost a $10 million case against an IVF specialist who failed to properly warn them of the likelihood their son would inherit a blood-clotting condition, but are considering appealing against the decision.
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The couple face the prospect of having to pay the doctor’s legal costs, which could run to tens of thousands of dollars.

Days after Debbie Waller gave birth to Keeden in August 2000, the infant suffered a stroke that caused severe brain damage and meant he was never able to walk, talk or go to the toilet unaided.

Mrs Waller and husband Lawrence claimed the stroke was the result of a rare blood-clotting condition known as antithrombin deficiency [ATD], which Keeden inherited from his father.

They sued the IVF specialist who oversaw his conception – Christopher James – in the NSW Supreme Court for what is known as ”wrongful birth”. The couple were not properly made aware there was a 50 per cent chance Keeden would have the defective gene and said that had they been properly informed of the risk, they would not have had the IVF treatment that resulted in his birth.

They sought compensation in the order of $10 million for the lifelong care of their handicapped son.

On Monday – 15 months after the case was heard – Justice John Hislop found Dr James had failed to ensure the Wallers were properly informed about the risks of inheriting ATD, and that had they been so informed, they would not have given birth to Keeden.

But he said the Wallers had not proved Keeden’s stroke had actually been caused by the blood-clotting condition. He accepted the evidence of a medical expert called by the defendant that Keeden’s antithrombin condition ”at most was a minor contributing factor and was possibly irrelevant to the outcome”.

”In my opinion the plaintiffs have failed to establish that the CSVT [stroke] was caused or materially contributed to by the ATD,” Justice Hislop said.

The Wallers were ordered to pay Dr James’ legal costs. Given that the hearing ran for four weeks, these costs are likely to run to thousands of dollars.

The couple’s lawyer, Bill Madden of Slater & Gordon, said his clients were ”upset and disappointed” and were considering an appeal.

”They want an opportunity to read through the judgment and its conclusions before making a final decision.” He said it was up to Dr James’ insurer, Avant, to decide whether it would seek to have the legal costs order enforced.

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‘Good on them’: Father of red-faced robber supports chilli attack

An alleged chicken shop robber who was thwarted by a splash of chilli sauce to the face has been refused bail with his father saying the shop’s quick-thinking staff did not go far enough in efforts to stop his son.
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Tyrone Holmwood, 19, on Monday appeared in Waverley Court with red, irritated eyes and wearing a blue plastic forensic jump suit after his clothes were taken by Botany police.

The alleged chicken shop thief was left red faced and empty handed when an employee on Sunday night thwarted the heist with a serve of chilli to the face.

Mr Holmwood, charged with assault with intent to rob, had been in trouble with the law before and that on each occasion alcohol had been a factor, the court heard.

He had allegedly been drinking prior to the incident on Sunday night when he is alleged to have assaulted worker Joanna Petry-Tartnoski.

“Tyrone, now he is sober, is shocked at the allegations,” his solicitor Anthony Brookman told the court.

His father offered his son support as he made an unsuccessful bail application but outside that support wavered with Mr Holmwood saying if his son did what is alleged the shop owners should have come at him with more than just chilli.

“They poured hot chilli on his head? Good on them. I would have poured hot fat upon his head.”

He was refused bail and the matter returns to court next Tuesday.

Botany police were called to O’Le Portuguese style chicken takeaway in Rosebery when Mr Holmwood was incapacitated with minor burns from the bucket of chilli.

Inspector Paul Thornton said there was a dispute with staff about payment before the alleged robbery attempt about 6.15pm.

“It’s alleged he walked behind the counter and tried to push the two workers aside before attempting to open the cash register,” he said.

Inspector Thornton said one employee ran to the front of the store and called police while the other, a 27-year-old woman, tried to hold the man back from the register.

“We will allege he’s tried to smash open the cash register on the floor and struck the woman, she’s responded with a bucket of chilli flakes over his face, it was the actual chilli that’s got in the face and floored him,” he said.

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Horwill locks in deal with Reds and ARU

Reds captain James Horwill has taken the next step towards becoming a one-club man after signing a new deal with Queensland and the ARU.
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The lock will remain at Ballymore until at least 2015, a contract which also takes him through to the next World Cup.

Despite suggestions of issue surround third party payments, which Horwill has previously debunked, it was a straight-forward process for both parties, with Horwill never intending to seek fresh pastures.

Crucially, the deal is a massive vote of confidence in the coaching transition under way at the Reds, where Richard Graham will take over from Wallaby aspirant Ewen McKenzie next season.

Horwill, 27, said he could never see himself playing anywhere but Queensland in Super Rugby, although as the holder of a UK passport he would weigh up his options after the next World Cup.

“It is important to me. Loyalty is very important to me as a person. I couldn’t see myself playing for another Australia side,” Horwill said.

“I’m very passionate about playing for Queensland and very passionate about playing for my country. That’s something I’ve thought of and I hope to go through with, playing for one club in Australia in my career.”

The pairing of Will Genia and Quade Cooper have been vital to the success of the Reds but Horwill’s return this season from a long lay-off has only accentuated his worth to the franchise and the Wallabies.

He is Australia’s standout lock and his hard running and physical presence has given the Reds a much harder edge to their attack and defence.

Graham said Horwill’s new deal would be the first of a number to be unveiled over coming weeks, which would go some way to offsetting the departure of Digby Ioane (France) and Jonno Lance (Waratahs).

“James is one of the premier locks in world rugby. It’s evident that he’s a fine leader of young men. It’s a really good vote of confident for the organisation. And a start for the next couple of weeks when we’ll announce some more players staying,” Graham said.

Horwill was concussed in the draw against the Force on the weekend and will be further assessed this week to see if he is able to take on the Sharks in Brisbane on Friday night.

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