Day 2 – CPA Congress review

By
taxabull
Published: October 13, 2009Tags: , , , , ,

We attended our first day at CPA Congress in Darling Harbour, Sydney. It was a lot of sessions! We attended seminars on risk management, activity based costing, heard about the state of Australia’s economy and met Andrew Gaze!

We will do a write up of each of the three days we are attending, including a separate write up of some of the key sessions we were allowed access to. By way of disclosure, we were guest bloggers with media access and given permission to cover certain sessions at the conference.  Read more...

Heading to CPA Congress!

By
taxabull
Published: October 7, 2009Tags: , ,

Next week the taxabull team will be heading to the CPA Congress.

The CPA Congress is a conference held throughout Australia and Singapore. It will be in Sydney, Melbourne, Brisbane, Canberra, Adelaide and Perth! We’ll be attending the Sydney conference.

We’ve been looking forward to it for some time now.  The theme of the conference is “The Way Forward”, which is how we will address the current GFC environment and move forward.

CPA congress

CPA congress

We’ll be attending over 3 days from Tuesday to Thursday next week. There are plenty of great talks scheduled. There is a mix between accounting, finance, HR, economics, fraud, and leadership from a variety of business leaders.  Read more...

When the tax receipts come home

By
taxabull
Published: September 29, 2009Tags: , , ,

Looks like someone just made a helluva tax payment.

According to CCH:

“A tax contribution by one unnamed company had a significant impact on the federal budget deficit which has come in $5 billion better than expected.

The final budget outcome for the 2008/09 year was a deficit of $27.1 billion instead of the $32.9 billion deficit forecast in the May budget.”

We wonder who this was? Telstra? Google? Oh to be a fly on the wall in the tax department and see this tax return. Let the rumours run rampant!  Read more...

Research & Development Tax Concession

By
taxabull
Published: September 27, 2009Tags: , ,

What?

The R&D tax concession allows companies to deduct qualifying expenditure at 125% (normal) or 175% (premium).

For more info about eligibility, check out the Ausindustry website.

Why?

Basically the government is trying to build up the intellectual capital of our country. This acts as a little booster for any companies who willing to do the hard yards.

How?

Since this is a government initiative and specifically the ATO is involved, there may be just a little bit of paperwork….

Its not that bad but the ATO R&D tax concession section has all you need to know.  Read more...

Digging a hole into the ATO? Miners under siege! (2 of 2)

By
taxabull
Published: September 27, 2009Tags: , , , ,

BHP takes the ATO to court..!

This all started last year when the ATO decided to abolish an excise exemption over BHP‘s gas field in the North West shelf. This meant that BHP and its partners would be liable for up to $500m in excise duties..!

Rather than directly attacking the ATO about this unexpected development, BHP decided to adopt a more subtle tack…

They decided to wholeheartedly agreed with the new law and instead, are arguing that the North West shelf comprises of several gas fields NOT one giant gas field.  Read more...

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