Income Protection: Your Umbrella When The Rain Arrives
Take a moment to stop and think for a minute. Have you ever considered how your family would fare if you were suddenly unable to work through sickness or injury? Paying off the bills and managing the everyday expenses is hard enough as it is with an income, let alone without one. Under such a…
Read MoreSuperannuation and Year-end tax planning
The end of financial year 2015 is looming and once again, it is that time of the year where you need to lodge your tax returns. In conjunction with lodging in tax returns, you may want to reassess your superannuation fund to obtain the most tax-effective strategy for the year-end tax planning. How can superannuation…
Read MoreLodgement dates from Super Funds
The lodgement dates for SMSFs have not been published for the 2015/2016 financial year. However looking at dates for the previous year can be used as an indicator for the lodgement dates for the upcoming year 2015/16 financial year.
Read MoreIs your Self-Managed Super Fund ready for Super Stream?
Super Stream is a government reform which aims to improve the efficiency of the superannuation system. If your SMSF receives super contributions from an employer then you will need to ensure that your self-managed super fund is Super Stream ready. Effective from 1 July 2015, employers with 19 or fewer employees must use the Super…
Read MoreMay 2015 Practice Update
May – 2015 Practice Update covers following points Employers and SMSFs must prepare for SuperStream Government ends benefits for parents who do not vaccinate 2014 online selling data matching program IGT to take on tax complaint handling function from 1 May FBT: Record keeping exemption threshold FBT: Benchmark interest rate FBT: Cents per kilometre basis…
Read MoreTIME TO BUY NEW ASSETS!
As part of the 2015-16 Federal Budget, the Treasurer, Joe Hockey has announced that the government has expanded the accelerated depreciation for small businesses. This temporary new rule provides a benefit for small businesses with an annual turnover of less than $2 million. The immediate asset write off threshold which was previously only $1,000 will…
Read MoreApril 2015 Practice Update
April – 2015 Practice Update covers following points ATO super crackdown – child care, building, cleaning, pubs Inappropriate loans from super funds What’s wrong with this type of arrangement? ATO’s audit targets Contractor payments data matching program Eligibility for net medical expenses tax offset Property developers – be careful what you wish for, from the outset…
Read MoreConsidering purchasing an Investment Property?
3 potential benefits in owning an investment property. Consistent rental income Substantial tax benefits Capital growth The main focus of this article will be to provide further detail on point two, which is to explain the numerous tax benefits of owning an investment property. Tax benefits relate to the ability to claim various deductions. Examples…
Read MoreMarch 2015 Practice Update
March – 2015 Practice Update covers following points Small business company tax cut to go ahead Deductibility of a ‘working with children check’ Time limits for family assistance payments ATO update regarding the ‘Director Penalty Regime’ ‘Single Touch Payroll’ on the horizon Pension deeming rates to be lowered Click here for – March 2015 Practice Update
Read MoreWhat is ‘Management Accounting’?
On Friday 20th March 2015, Roger G Anthony was invited by Zimsen Partners Pty Ltd to provide a valuable insight into “Management Accounting”. Highly qualified, with an MBA and a Master of Financial Management and prior to his retirement from the Finance Industry, Roger had also held professional membership, such as FCPA, FCMA, FCCA, FCIM. …
Read MoreUnderstanding Australia-Chinese business trade relationships
Our new Accountants Jessie Xiao and Sharon Zhou gave a presentation to our staff on Understanding Australia-Chinese business trade relationships. The Australian Chinese Trade Relationship China is Australia’s largest trading partner. While the bulk of exports to China consist of iron ore and other resources such as coal and gold, exports now are expanding beyond…
Read MoreFebruary 2015 Practice Update
February – 2015 Practice Update covers following points ATO data matching programs Motor vehicles Share transactions ATO focus on super obligations – child care, pubs and cleaning Travel allowance – deductions are not a foregone conclusion ATO recovers super from phoenix operators Single Touch Payroll Construction industry annual payments report Click here for – February 2015 Practice Update
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