Karolidis & Co - Lawyers and Accountants

22/07/2020

Please be mindful of your claims and if in doubt, seek advice!

See below quotes from the assistant commissioner:

“If we know someone is deliberately doing the wrong thing, not only will they have to repay tax but there will also be interest on it and there can be penalties of up to 75 per cent of the missing part of the tax they should have paid in the first instance,” she said.

“Further than that, there can be criminal prosecution for people caught fraudulently developing their own supporting documents and things like that.

“We know nobody likes to get a bill from the tax man, especially not well after they have already spent their refund, so it’s best to do the right thing upfront.”

The Australian Taxation Office has revealed the key areas it is cracking down on this year after experiencing the busiest July 1 on record.

11/06/2020

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01/06/2020

There is an assumption that if purchasers do not obtain finance approval by the due date, then the contract is automatically at an end and that their deposit will be returned.

However, it is not this simple and there are risks involved. The ‘subject to finance’ clause includes a general condition which specifies that the purchaser will use its best endeavours to apply for and do everything necessary to obtain the loan. If this term is not satisfied by the finance approval due date, the contract may still become unconditional. You must also be aware of special conditions in your contract which can alter the general position.

The ‘subject to finance’ clause includes a general condition which specifies that the purchaser will use its best endeavours to apply for and do everything necessary to obtain the loan. If this term is not satisfied by the finance approval due date, the contract may still become unconditional. Y...

12/05/2020

The process of purchasing a business can be lengthy and confusing and entails a process a new business owner simply does not want to undergo alone, that is where we come in handy.

Our lawyers can act on your behalf in a business purchase ensuring that the deal you are getting is in your best interests and that the process of acquiring the business is smooth.

When a business owner intends on purchasing a business, they visualise themselves running and operating the business they have acquired but do no think of all the steps and legal requirements in between. The process of purchasing a business can be lengthy and confusing and entails a process a new bu...

04/09/2019

Karolidis & Co specialise in cost effective legal and accounting services to investors and small/medium business. The award-winning team of Dihanna, Victoria, Nick, Marika and Dajana provide advice on banking and finance; structuring (business and property); start-up advice; property law and conveyancing; business and commercial law; business sales and purchases; wills & estates; tax advice and compliance and probate/deceased estates. You will find the team at shops 2 & 3, 785 Pascoe Vale Road, Glenroy (enter from Lytton St).

Karolidis & Co - Lawyers and Accountants
https://karolidis.com.au/

30/07/2019

Don't make these mistakes please! See a tax agent/lawyer if unsure!

"A couple of taxpayers claimed dental expenses, believing a nice smile was essential to finding a job - and was therefore deductible. It isn't and their claims were disallowed."

"Another taxpayer claimed the Lego sets they bought as gifts for their children. Unsurprisingly, this claim was disallowed. Personal gifts don't qualify, and it's not okay to ask Australian taxpayers to subsidise presents."

The Australian Taxation Office (ATO) has published some of the most unusual claims that they disallowed last financial year.

26/07/2019

Team is growing - additional Glenroy office + new Boardroom!

26/07/2019

Tax changes you may face in the New Financial Year

Everyday Australians are set to experience several changes in the new financial year that has commenced from 01 July 2019.

The tax changes are introduced as a result of the most recent federal budget and are set to affect every Australian individual, family and corporation in one way or another.

Read below to find out how and what changes implemented or to be implemented will affect you.

Tax changes you may face in the New Financial Year Everyday Australian’s are set to experience several changes in the new financial year that has commenced from 01 July 2019. The tax changes are introduced as a result of the most recent federal budget and are set to affect every Australian individ...

09/07/2019

Australians are being urged to “wait a few weeks” before lodging their returns to give stressed-out tax office staff some breathing space amid an unprecedented tidal wave of phone calls.

15/05/2019

Good luck to all finalists - we look forward to seeing you at next week's conference and dinner!

The PropertyX Awards celebrates excellence in digital conveyancing and those driving the industry’s digital reform.

This year, we will recognise the best and brightest across a range of categories that are open to practitioners (lawyers, conveyancers, settlement agents), panel lawyers, financial institutions and developers.

The Industry Excellence Award – Practitioner recognises a legal or conveyancing practice who has been an industry leader and game changer within the digital settlements landscape. Winners will be announced during the next week's gala dinner following the PropertyX Conference on Tuesday 22 May.

Industry Excellence Award – Practitioner
bytherules Conveyancing
First Class Legal
Glenferrie Conveyancing Pty Ltd
Goolwa Conveyancing
HWL Ebsworth Lawyers
Holding Redlich
Karolidis & Co - Lawyers and Accountants
Vicki Philipoff Settlements