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Unit 11, 61 Flynn St, Wembley, WA, 6014
08 9242 2085

Yearly Archives: 2017

FBT Return Action Checklist

FBT Return Action Checklist
In another couple of weeks, the Fringe Benefits Tax Year End draws to a close, on 31 March. If you would like us to take the headache away from you so that you can get on with running your business, contact us by calling us for an appointment or getting over to www.otsmanagement.com.au and click on the Contact Us tab to arrange an obligation-free first meeting. However, if you are preparing your own FBT Return, we provide below an Action Checklist to help ensure that you have considered all the major issues. We hope you will find it useful. (more…)...
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Tax Updates for March 2017

Tax Updates for March 2017
In this Tax Update:- Intangible Capital Improvements Made to a Pre-CGT Asset Personal Services Income Diverted to SMSF Depreciating Assets: Composite Items Overtime Meal Expenses Disallowed Because No Allowance Received Time Extension to Review Objections Decision Disallowed - Again! No Deduction or Capital Loss for Apparent Guarantee Liability Taxpayer Denied Deduction for Work Expenses of $60,000 (more…)...
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Recruiting an Independent Director for an Indigenous Corporation

Recruiting an Independent Director for an Indigenous Corporation
In my honest opinion it is encouraging that more and more Indigenous corporations are seeking to appoint one or two independent Directors to their Boards. While it is important that the cultural priorities and prerogatives of an Indigenous organisation are held up as part of their Mission and Vision, to my mind this is not incompatible with having independent views on the Board. This can provide experience in areas where the Indigenous Board members do not yet have enough experience; can provide specific expertise in areas such as finance, the law and commerce; and can bring with it a wider network to help the organisation fulfil its mission in the wider world. However, due to the inexperience of Indigenous organisations in finding independent Board members, the process is fraught with danger. What should be the process? How do you actually recruit the right person? (more…)...
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10 Financial Facts You Need To Know About Your Business

10 Financial Facts You Need To Know About Your Business
As a small business owner or professional running your own practice, you didn't sign up to be an accountant did you? That's why you hired one - to do your books for you while you got on with providing solutions for your customers, either a great product or a great service. However, you can't run away from the numbers. You want to make a profit right? So, you want to make a profit but you'll leave the numbers to your accountant? How does that work? How does that work if you only see your accountant once or twice a year? How does that work if they are not the type of accountant to give you proactive management information? Are you even making a profit? Here are 10 financial facts that you should know about your business. (more…)...
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