If you think your holdings in gold are as “good as gold” then think again. Buried in the Banking Act 1959 (Cwth) are an innocuous set of provisions which: • Gives power to the Federal Government to confiscate gold; and • forbids the sale of gold except to the Reserve Bank. You cannot sell or buy gold except with the permission of the Reserve Bank and if you do it is a criminal offence. The provisions do no apply to wrought gold which means gold and gold alloys which on view have apparently been worked or manufactured for professional or trade purposes. As at the date of this article the operation of the above prohibitions lay dormant. However if the Governor-General thinks it is neces
If you pay staff you will need to know the new rules about reporting tax and super information to the ATO. The ATO is introducing a streamlined way of complying with taxation reporting obligations using your accounting software to automatically report payroll information when employees get paid. Employers with 20 employees or more will be able to report to the ATO through Single Touch Payroll from 1 July 2017. However, they will be required to report from 1 July 2018. Employers with 19 employees or less will be able to report to the ATO through Single Touch Payroll from 1 July 2017. click here to read more: https://www.ato.gov.au/General/New-legislation/In-detail/Other-topics/Single-Touch-P
Custody issues often involve disputes as to which school the children should attend. Can one parent force the other to pay half the cost of attending a private school? What if a parent disagrees with private schools? The fees can be astronomical. These issues were agitated in the case of Barstow & Barstow [2016] FCCA 2185 (31 August 2016). Both parents were in their 40s each having incomes of at least $200,000 per year. They had two children aged five and the other in prep school after a 14 year relationship. The wife had a strong preference for the children to attend private schools until completion of year 12. The husband was opposed to private school education on a philosophical basis. Th
