Administrator Pendite Lite

Ian McFarlane has experience in acting as Administrator Pendite Lite. This is a name for a court appointment to begin probate proceedings during a lawsuit that challenges the will. The estate will be granted Letters of Administration to allow the administrator to collect the assets of the estate until the last binding will of the deceased is approved by the court.

Increase To The Minimum Wage – 1 July 2016

One of the biggest expenses all businesses face, especially in the tourism and hospitality industry, is the cost of wages. Besides purchases of stock, payroll is generally the second highest expense with businesses needing to make sure they are complying with penalty rates, superannuation, WorkCover and payroll tax. However, a recent development will see the cost of employment increasing.

Farm Management Deposits Scheme

Farm management deposits (FMD) are an important tool to help primary producers deal with uneven income from one year to the next; a common scenario due to a myriad of variables in a primary production (PP) business.

The scheme allows deposits to be made with an authorised deposit-taking institution who offers special FMD accounts. A tax deduction can be claimed for the amount deposited, provided that the funds are not subsequently withdrawn within 12 months. If the FMD is withdrawn in a later year (after 12 months), the amount withdrawn is included in assessable income. In the case of a natural disaster, deposits can be withdrawn within 12 months, subject to meeting certain conditions, without the tax deduction being cancelled.

Millions May Be Unclaimed By Investors Who DIY Depreciation

We generally recommend our property investor clients obtain a quantity surveyors report so as to maximise available depreciation and capital works allowance claims. We received an article recently from BMT Quantity Surveyors, highlighting the fact that property investors who obtain a suitably qualified quantity surveyors report claim significantly higher amounts in their tax returns. Some excerpts from their media release are as follows: