Scammers “Gone Phishing”
This time of the year is one of the busiest for us as Tax Agents. But we’re not the only one’s hard at work! Scammers are working overtime to do you out of your hard earned money. Identifying themselves as representatives of the ATO or ASIC, they are getting smarter at convincing you they are […]
Super Guarantee
If you have employees who earn $450 or more in a calendar month, then you may need to pay their super. The minimum amount you must pay is called the super guarantee (SG) and the rate is currently 9.5% of wages. SG is due to be paid to your employees chosen superfund by the 28th […]
Rental Property Deductions
As the new Financial Year is well and truly in motion, it serves as a timely reminder to taxpayers of what exactly they can or can’t claim as part of their rental property deductions. From the last Budget, the following changes came into effect: Previously landlords were able to claim all travel expenses to inspect, […]
Investing in your future
There has been a lot in the news of late regarding Superannuation. Particularly as the Government of recent times has made a number of changes. For the great majority of taxpayers, the changes will have little impact. However, Superannuation still remains a tax effective method of saving for your retirement. When investing, a number of […]
Why You Shouldn’t Default Your ATO Payment Arrangements
Nowadays, the ATO are less lenient with clients who are entering into payment arrangements. The criteria and guidelines have increased and more often than usual, you are required to provide in-depth details about your financial situation and circumstances before a payment plan will even be considered. In most cases, this is due to the number […]
Work Related Deductions
The Tax Commissioner is cracking down on claims for work related deductions again, saying that it is a threat to the revenue base. The Tax Act was changed years ago to enforce substantiation for your work claims, so if we have been maximising your claims playing by the rules, it’s not our fault. Maybe Mr […]
$20,000 Small Business Instant Asset Write Off
We are fast approaching the end of the financial year (I know, we can’t believe it either). Remember that if you are operating a small business, you can purchase an asset costing less than $20,000 excluding GST and claim the entire purchase price as an immediate deduction. Small businesses have historically been defined as those […]
Changes Afoot for Workers Compensation
There are changes afoot with Workers Compensation Insurers. From 1 January 2018, Employers Mutual Limited (EML) will be the sole scheme agent. Allianz and GIO will continue as transitional agents to manage their existing clients until 31 December 2018. However, if you are currently insured with CGU or QBE, your new agent will be EML […]
Impacts from the 2017 Budget
Budget 2017 Please note: All Budget announcements are only Government proposals – they are still required to pass through the senate. So, what happened on budget night? Impacts on you: The Medicare levy is proposed to increase from 2% to 2.5% from 1 July 2019. The Budget Repair Levy was not extended, therefore the top […]
My Fearless Budget Predictions
It’s with great anticipation that we look forward to the coming Federal Budget. The excitement is building as the government throws out all manner of red herrings. But as we learned last year, what’s announced on budget night may never make legislation. So what are my fearless predictions…… The Superannuation rules will not be affected […]