Choosing an age to retire

As waves of baby-boomers now reaching what was once a popular retirement age, as well as the rapid ageing of the population, the topic of retirement intentions is getting a lot of attention. The Government has further focused attention on this issue with its plan to progressively increase the age for pension eligibility from 65…

Be wary of GST clauses in contracts

A recent legal case in the Victorian Supreme Court has highlighted the importance of ensuring that the correct GST clause is used in business contracts. A properly drafted GST clause can avoid any problems or unintentional financial consequences. The recent Victorian case involved a contract that failed to list GST as being inclusive or exclusive…

ATO reminder about RFB

Employers are reminded that the ATO will be focusing on businesses operating outside the fringe benefits tax (FBT) system in 2013-14. The ATO will be paying particular attention to those employers who are failing to fulfil their reportable fringe benefits (RFB) amount and FBT obligations. Employees should be recording the value of fringe benefits provided…