SproutX startups- Bloombox

Each month, Crowe Horwath will profile the startups that have been accepted into the 2017 SproutX Accelerator program. SproutX is a joint venture between Findex and the National Farmer’s Federation. It’s an innovation hub and startup accelerator designed specifically for the Agtech sector-  the first of its kind in Australia. SproutX focuses on nurturing startups … Continue reading “SproutX startups- Bloombox”

SproutX startups – WaterSave

Each month, Crowe Horwath will profile the startups that have been accepted into the 2017 SproutX Accelerator program. SproutX is a joint venture between Findex and the National Farmer’s Federation. It’s an innovation hub and startup accelerator designed specifically for the Agtech sector-  the first of its kind in Australia. SproutX focuses on nurturing startups … Continue reading “SproutX startups – WaterSave”

Data Analytics

In today’s complex operating environment, businesses are processing thousands of transactions through IT systems, and are becoming increasingly reliant on IT processes. Data analysis is an important tool to assess large volumes of data, in order to identify anomalies and trends. Ever increasingly, businesses need to be able to perform complex analysis techniques using the … Continue reading “Data Analytics”

Employee Travel Expenses

The Australian Taxation Office (ATO) has recently released Taxation Ruling 2017/D6, setting out the ATO’s updated guidelines regarding when an employee can claim a tax deduction for their travel expenses and the Fringe Benefits Tax (FBT) implications of these expenses. According to the ruling, an employee can claim a tax deduction for travel expenses incurred … Continue reading “Employee Travel Expenses”

The Respected Auditor

From financial statement auditing to risk consulting, auditors can provide the full breadth of audit and assurance services to manage risks, and improve business processes and financial reporting. Although a highly valuable profession, it is also often a very misunderstood role. Brad Bohun sets the record straight, and outlines the skills and attributes it really … Continue reading “The Respected Auditor”

International Related Party Loans: What you need to know

In what has been touted as Australia’s biggest tax case, the Australian Taxation Office (ATO) won against Chevron Australia Holdings Pty Ltd (Chevron Australia) in the Full Federal Court earlier in the year. In contention is the Australian dollar equivalent of a US $2.5billion loan from US Chevron’s subsidiary Chevron Texaco Funding Corporation, to the … Continue reading “International Related Party Loans: What you need to know”

Australian Company Tax rate changes are having more impact than just the income tax calculation

Recent changes to small business tax rates may impact your business more than you realise. On 19 May 2017, the tax laws were amended to change the tax rate applicable to small businesses, as well as the threshold for determining what a small business is. Not only does this impact the current tax expense and … Continue reading “Australian Company Tax rate changes are having more impact than just the income tax calculation”

Tax considerations – Incentivising key staff

As Tax Advisers we are often asked to provide advice to business owners who are wanting to incentivise key staff.  Whilst this is most likely a clear reward and recognition strategy, it is important to ensure that these employees are completely aligned with the goals of the owners. We often see this occurring as a … Continue reading “Tax considerations – Incentivising key staff”

Corporate tax rates – what rate applies in 2018?

Following the Government’s retrospective changes to company tax rates in May 2017, there has been ongoing confusion over which tax rates and concessions currently apply. For companies that are carrying on business, the thresholds for 2018 are: Tax rate of 27.5% where turnover is under $25 million; Cap on franking credits on dividends to 27.5% … Continue reading “Corporate tax rates – what rate applies in 2018?”