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Accounting
Tax Time – Friendly Reminder
August 4th, 2015With 30 June well behind us it's time to collate your tax records to ensure ATO (Australian Taxation Office) deadlines are comfortably met. Although not yet due, there are advantages of preparing your tax return now, even if we don't lodge it straight away. The reason could be: To get your tax refund To budgetread more
Tax Time – Before 30 June is the Key
June 12th, 2015Are you interested in putting together a tax plan or just looking for extra ideas for tax time? To assist with finding the bit most relevant to you in reading this planning document, we have divided the topics into: General year-end tax planning tips; Business year-end tax planning tips; Individuals year-end tax planning tips; Year-endread more
ATO Audits – Are you at risk?
May 25th, 2015With the end of another financial year nearly upon us and thoughts turning to our next income tax returns, it is timely to consider what factors may trigger an Australian Taxation Office (ATO) audit. In recent years, the ATO has implemented sophisticated data matching technology and is better equipped than ever before to scrutinise financialread more
BAS Facts
March 12th, 2015Personalised Business Activity Statements (BAS) are provided by the Australian Taxation Office (ATO) to businesses in order for them to report their taxation obligations such as: goods and services tax (GST), luxury car tax (LCT), fuel tax credits, wine equalisation tax (WET), pay-as-you-go (PAYG) withholding and instalments, fringe benefits tax (FBT) instalments and deferred companyread more
FBT Rate Increases Coming Soon – Take Action!
January 22nd, 2015Effective 1 April 2015, Fringe Benefits Tax will increase from 47% to 49%. In order to prevent individuals who earn more than $180,000 from self-sacrificing into fringe benefits to avoid extra tax, the temporary budget repair levy of another 2% has been imposed. In order to entice the best staff, minimise turnover and increase efficiency,read more
Important Changes to Managing Activity Statements
October 7th, 2014The Australian Taxation Office (ATO) have implemented important changes to the way they manage the delivery of Activity Statements. If you or your registered agent lodges an activity statement on your behalf through an electronic channel, your next activity statement will be available only in electronic format – the ATO will not send a paperread more
Smart End of Year Financial Strategies
March 18th, 2014Pre-Pay Income Protection Premiums and reduce this year's tax If you are employed or self-employed, pre-pay 12 months income protection/salary continuance premiums and bring forward your tax deduction to this financial year. Don’t have Income Protection insurance? At age 40, there is a 48% chance you will have a serious health event ie Death/Disability/Trauma. Weread more
Don’t Pay More Fringe Benefits Tax Than You Must!
January 13th, 2014Yet another FBT year comes to a close on 31 March 2014. Do you provide benefits to employees (including yourself and your spouse)? Not sure about that vehicle just purchased or the prized Ashes tickets you gave to your sales manager? Our experience is that many employers unwittingly provide Fringe Benefits. The ATO has advisedread more
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