For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart? Every business owner is naturally curious about just how much their business is worth. However, for …
The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative Appeals Tribunal demonstrate how serious the Australian Taxation Office (ATO) is about making sure professional services firms – lawyers, accountants, architects, medical practices, engineers, architects etc., – are appropriately taxed. …
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change. The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions. The …
How to take advantage of the 1 July super cap increase Read More »
21 April Lodge and pay quarter 3, 2023–24 PAYG instalment activity statement for head companies of consolidated groups. Lodge and pay March 2023 monthly business activity statement. 28 April Lodge and pay quarter 3, 2023–24 activity statement if electing to receive and lodge by paper and not an active STP reporter. Pay quarter 3, 2023–24 …
What did I miss? The ATO wields Part IVA against professional practices distribute profits in two new cases before the AAT. Professional practices have been in the ATO spotlight for many years now for the way they distribute profits. However, with two new cases before the AAT, the ATO is gaining momentum. We look at …
21 March Lodge and pay February 2024 monthly business activity statement. 31 March Lodge tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large and medium taxpayers), unless the return was due earlier. Payment for companies and super funds in this category is …
What did I miss? The revised Stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024. While some games were played (at one point there was a debate on an amendment to change the name of the Bill to Treasury Laws Amendment (Cost of Living Tax Cuts but Not …
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to employees without incurring the 47% fringe benefits tax (FBT) on private use. The …
It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications. A case before the Administrate Appeals …
Getting Back What You Put In: Loans to Get a Business Started Read More »
The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. After much speculation, the Prime Minister has announced that the Government will amend the legislated Stage 3 tax cuts scheduled to commence on 1 July 2024. Relative to the current …
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Administration Officer
With her kind, caring and approachable nature, Reshika never fails to provide a positive, welcoming experience for our clients, assisting them as they walk in our door or call our office. She understands the power of customer service and is always willing to lend a hand.
With her fun and relaxed personality, Reshika is incredibly creative, especially when it comes to finding solutions for evolving challenges, from financial matters to marketing requirements and beyond. Holding a Masters of Business Administration with a major in Marketing and significant experience in the banking industry, Reshika has a unique combination of skills which makes her a real asset to Fortis.
Reshika is motivated to reach new heights, take risks and develop her career by working alongside Bernadette, our Client Administration Manager, and having the opportunity to learn new things such as new platforms and procedures.
Reshika is passionate about fitness and does not miss an opportunity to take advantage of the gym. Despite Reshika’s relaxed personality it all goes out the door when card or board games are involved!
