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Taxation
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
Save On Your Tax with the Help from Mckinley Plowman
May 6th, 2014With 30 June 2014 fast approaching, now is the time to assess your likely 2014 taxable income. For people in business, on wages or investors we recommend you review your likely income and expenses ahead of 30 June 2014. You can then review the tax tables to determine whether you will be in the nextread more
How Our Unique Tax Planning Process Delivers Great Results
May 5th, 2014First of all, we request from you details of your expected income and business profits for the 2014 tax year (1 July 2013 to 30 June 2014). This includes all wages / employment income, interest and dividends and rental income received business profits / losses, and any capital gains / losses you expect to make.read more
2014 Tax Planning Starts now!
April 16th, 2014There’s 3 key things that all business owners MUST consider RIGHT NOW. The Tax, Business Improvement and Wealth Creations teams at MP+ will work with you to deliver significant results. Please read on! 30 June is only 13 weeks after the beginning of April. It's not a long time at all. This year let’s tryread more
Take Advantage of the Concessional Contribution Caps to Help You Make the Most Out of Your Super and Save You in Tax
April 14th, 2014Take advantage of the concessional contribution caps before the end of the financial year to help you make the most out of your Super and save you in tax. Concessional contributions are taxed at 15%*, which is generally less than tax paid on your salary or wages. By making contributions up to the cap beforeread more
12 Tax Tips to Help You Prepare for Your 2014 Year End Tax
April 5th, 2014Tax time can be a daunting time of the year, but with the help of these 12 year-end tax tips, you might just be able to see the light shine through and realise that preparation is a key factor that we can help you with. Bad Debts If you have bad debts that are taxableread more
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