by David Jepsen | Mar 31, 2020 | News
2020 has been a year of unpredictable circumstances; we were all caught off guard. Now is the time to speak to your tax professional to ensure you have a plan in place to manage the changes that may affect your tax liabilities. These changes are best managed in...
by David Jepsen | Mar 26, 2020 | News
On Sunday morning the Federal Government announced a further $66 billion in economic stimulus to fight the effect on the economy of the virus.This $66 billion adds to the initial $17.6 billion, the $90b from the RBA and $15b from the Federal Government to deliver...
by David Jepsen | Dec 18, 2019 | News
Probin and FCT [2019] The AAT has upheld the ATO’s Super Guarantee Charge (SGC) assessment of a ‘contractor’, ordering the employer to backpay 5 years of Superannuation Guarantee; $27,272. The Tribunal found that he was engaged as an employee not an independent...
by Jack Lawrence | Sep 10, 2018 | News
Superannuation seems to be constantly changing so an update is always valuable and getting Super contributions wrong can be very costly in penalties, fines and time. The key contribution thresholds and tax rates are as follows: Item Rate/Threshold Concessional...
by Jack Lawrence | Sep 10, 2018 | News
How healthy is your business? No matter what market you are in, if you don’t know the health of your business, you are setting yourself up for failure. Business owners who are aware of their business performance metrics and have clear visibility of potential...
by Jack Lawrence | May 16, 2018 | News
If you’ve been following the Budget in the media, it seems like the Treasurer delivered some good news in his 2018 Federal Budget and it seems to have been well received by voters. However, there is some devil in the details for individuals, business owners and the...
by Jack Lawrence | May 2, 2018 | News
Over the last few weeks, various media outlets have been predicting that the upcoming Federal Budget will see Treasurer Scott Morrison playing Santa Claus and handing out tax cuts and generous infrastructure project expenditure to keep businesses and individuals...
by Jack Lawrence | May 23, 2017 | News
Tax Deadlines and Penalties – 2016 Return Lodgement We have been busy, like most accountants this time of year. It is May 2017 and many businesses, trusts and individuals have not or only just lodged their tax returns for the year ended 30 June 2016, via a tax...
by Jack Lawrence | May 17, 2017 | News
The 2% ‘debt tax’ is ending on 30 June 2017! Basically you are better off earning more taxable income over the $180,000 level next year. All things equal: Tax on $350,000 of taxable income for the year ending 30 June 2017 is $3,400 more than 30 June 2018;...
by Jack Lawrence | May 10, 2017 | News
Is this your last chance to take advantage of the $20,000 Small Business Asset Write Off? A couple of years ago the Government introduced this incentive to encourage small business to invest in assets and stimulate the economy; this tax break was finishing 30 June...
