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Posts Tagged ‘transactions’

Welcome to Location Lowdown, your helpful guide to choosing the next place you move to

Often it is difficult to find out practical, useful information that would make deciding on a place to live easier. That’s why we offer you a broad picture on any location within Australia; this includes what many would describe as necessities such as health care, education, employment and also as diverse as relevant statistical data and the laws relating to real estate transactions.

Designed for those seeking a move to Australia from overseas or those moving interstate or even the next suburb, you can get to know a place without leaving your chair. Its as easy as entering the prospective town name, for example Bellingen and the correct state, New South Wales, in the tool bar and click go.

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A 39-year-old woman from Ellenbrook was arrested for stealing $1.72 million from a Perth training institute she was working at, police claim.

Sergeant Graham Clifford says the woman embezzled the money during a three year period from 2006 until 2009 when she was employed at the training place as a contract bookkeeper.

 Major Fraud Squad detectives had launched an investigation into the 39-year-old after having received valuable financial intelligence from the Australian Transactions Report Analysis Centre. Police charged the Ellenbrook woman with stealing as a servant and fraud.

The 39-year-old has been released on bail until she will appear in Perth Magistrates Court on Monday 24 August.

Source  :  www.watoday.com.au

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The Australian Tax Office has issued a warning to self-managed super funds (SMSFs) about people offering to set up agreements between funds and related parties to purchase assets, particularly properties.

Tax Commissioner Michael D’Ascenzo says he’s concerned some of the arrangements on offer breach the in-house asset rules.

“These arrangements use a paid third party to set up an agreement, sometimes referred to as ‘a joint venture agreement’, between the fund and a related trust to purchase an asset that provides income for the trust and the fund,” D’Ascenzo says.

“This is clearly an attempt to circumvent the in-house asset rules as the transaction is really an investment by the SMSF in the related trust.”

“This alert serves as a timely reminder to trustees that we’re looking closely at SMSFs to ensure they’re meeting their obligations in relation to loans, in-house assets, borrowings and non-arm’s length transactions.”

The Taxpayer Alert (2009/16) on this issue is available from the Tax Office website at www.ato.gov.au/atp.

Source  :  www.apimagazine.com.au

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