Rahul Goyal

A reminder for you that to claim a tax deduction for personal super contributions SMSF members must complete a Notice of intent to claim or vary a deduction for personal super contributions. Once received, a fund trustee must send a written acknowledgment, confirming they have received a valid notice of intent to claim a deduction. The ATO emphasised that members must receive the acknowledgment from their fund before they can claim the deduction on their tax return. #supercontributions #smsf #accountants #advisors #virtualcfoservices

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When a company considers a sale, the board plays a vital role in protecting stakeholders and ensuring a smooth process. Directors must manage advisers, oversee due diligence, address outstanding claims, and ensure employee and tax obligations are met. Above all, they must prioritise the company’s interests, not just those of selling shareholders. Sharing his insights with Australian Institute of Company Directors, Managing Principal Andrew Lacey further explains the board requirements when considering the sale of a company. Read the full article below. #MergersAndAcquisitions #CorporateGovernance #BoardResponsibilities #Directors #LegalInsights #AusLaw

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A recent Federal Court decision has clarified how Bankruptcy Trustees must handle Capital Gains Tax (CGT), potentially altering the priority of the ATO over other creditors in certain cases. This ruling underscore the importance of careful planning when managing insolvent estates, particularly in understanding the implications for post-bankruptcy liabilities. For more insights into this decision and its practical implications, read the full article here: https://lnkd.in/gR88qnKG #CathroAndPartners #Bankruptcy #Insolvency #CGT #FinancialGuidance

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A New South Wales Supreme Court ruling has highlighted the importance of complying with the strict service requirements set out in the Service and Execution of Process Act 1992 (Cth) when serving an application to set aside a statutory demand filed in one state or territory, on an entity with a registered office in a different state or territory. Hannah Griffiths, Scott Ivey and Jemimah George report on the ruling and the practical implications emerging from it. Read the article: https://lnkd.in/e-ZCMywp #PinsentMasons #Restructuring #Insolvency

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Powering Success: How a $300k Debtor Finance solution transformed a labour hire provider.   Octet has been supporting Australian businesses with smart working capital solutions since 2008, just like this WA-based labour hire provider operating in the mining and industrial sectors. Read our client story to see how a tailored $300,000 debtor finance solution, not only solved their initial cash flow challenges, but also set the stage for substantial business growth.   If you have a business that could benefit from flexible finance solutions, like Trade or Debtor Finance, contact us today.   #Workingcapitalsolutions #Cashflowmanagement #DebtorFinance Nigel Thayer

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Business client groups are increasingly subject to debt collection litigation, rising personal and corporate insolvency - How can you best support your clients? Join Bruce Collins from Tax Controversy Partners Pty Limited for a live webinar where he will discuss strategies to optimise the prospects of success in dealing with potential insolvency cases for individuals and companies. Register here: https://bit.ly/3yWlcRz #ATO #Bankruptcy #NeedToKnow

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Drive your business forward with technology. Collaborative advisors manage risks, ensure compliance, boost agility, and deliver desired outcomes. #australianbusiness #advisors #strategy #accounting #lawyers #marketing #technology #law #tax #XARY

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Key findings revealed. The CPA Australia 2024 Business Technology Survey explores how AI and emerging technologies are driving innovation. Tune in to gain expert insights from a leading tech and finance expert.

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With tax time right around the corner, it’s important to stay on top of your reporting and employer obligations. 💼 The Australian Taxation Office shares their tips to help you with your payroll governance, including single touch payroll, fringe benefits tax and pay as you go. Read the tips 👇

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The Financial Markets Authority - New Zealand has just issued its finalised guide for "client money or property service" providers – a.k.a. platform custodians, DIMS custodians and financial adviser nominee companies. The final guide tweaks the 2022 consultation draft to address industry feedback on e.g. … ✔ the process for deducting margins – the emphasis is now on clear and effective disclosure, as opposed to positive consent (although an express direction to deduct should still be obtained). ✔ the naming of bank accounts holding client money as "trust accounts" or "client funds accounts" – this is best practice, rather than a statutory requirement. ✔ the frequency of reporting to clients – quarterly client reporting is encouraged, noting the law requires 6 monthly reporting. There's more detail on the tweaks (there are others) and how the FMA responded to the consultation feedback, in its accompanying submission report. It's great to have the guidance in final and pleasing to see consultation feedback being addressed. I think providers will also find some of the other changes helpful such as the recommendations about record keeping, the more detailed explanations about why FMA has taken the position it has on issues and the clearer distinctions made between legal obligations vs. recommended practice. https://lnkd.in/gdAhANCy #dlapiperNZ #FMA #FinancialRegulation [EDIT: to reference direction to deduct margin]

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Our Directions report based on our annual survey non-executive directors is out! Among the findings are that - after almost 6 months of discussion since the government announced its proposed merger reforms - a quarter of respondents consider the new merger regime will make it more difficult to execute M&A in Australia and therefore discourage investment and inorganic growth. Reach out to KWM's national competition team for more detail! Edited by Rhys Casey Meredith Paynter Emma Newnham Jason Watts and Tim Bednall, it is a fascinating read. https://lnkd.in/gKRxZqNq

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Stay Updated on Tax Legislation! 📢 Discover essential updates on tax legislation affecting businesses this year with Vertex Partners. Contact Us Today: Head Quarter: U30, 22-30 Wallace Avenue, Point Cook, 3029 VIC Mail Us: [email protected] Call Us: 0420 531 988 | 0481 594 176 #ATOauditSupport #TaxHelpAustralia #VertexPartners #FinancialServices #TaxConsulting #AuditAssistance #AustralianTax #TaxProfessionals #businesssupportaustralia

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Account balance-based voting in SMSF corporate trustee company constitutions may lead to an added administration burden and unfair outcomes. https://ow.ly/vp0q50U4657 DBA Lawyers Daniel Butler #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine

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What are the key areas of legal due diligence when considering a managed fund investment? Thanks to our lawyer @winston for sharing the knowledge.

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Corporate Wrap-Up / 09 August 2024. // A weekly summary of the key developments in the world of Australian corporate law. In this edition: 🌳 Significant greenwashing penalties imposed on Mercer Superannuation 🔊 Continuous disclosure breaches 🛑 ASIC stop orders 🤝 Employee incentive schemes ⚖ Public policy considerations in schemes of arrangements #corporatelaw #corporategovernance #mergersandacquisitions

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