NEWS

New Tax Tables

New Tax Tables

Tax rates have changed! Employers must use the latest tax tables to calculate withholding.

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2019 FYCF

2019 FYCF

The introduction of the Tax Agent Services Act 2009 means a greater safe-guard for taxpayers and our Financial Year Compliance File has been designed specifically with this in mind. The 2019 FYCF will be available very soon!

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Building and Construction

Building and Construction

How did you go in 2018? Did you get selected for audit?Taxpayers in the building and construction industry have lodged their Taxable Payments Annual Report (TPAR).The A.T.O. are conducting a series of audits – make sure you don't get caught out!For more information...

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EOFY Stocktake

EOFY Stocktake

Businesses that keep trading stock generally need to provide evidence of the level (quantity) and value ($) held at 30 June; in these instances a physical stocktake is required at the close of each financial year.  If you are a small business you may wish...

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Directors Liability

Directors Liability

Notice to all Directors: From appointment date, a director has 30 days to decide to resign with no potential for exposure to adverse personal financial liability.  Furthermore, the Tax Laws Amendment (2012 Measures No. 2) Bill 2012: Companies'...

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Work in Progress

Work in Progress

A calculation is required each tax year with respect to work that has been carried out but not yet completed by 30 June; this is particularly important if you are in the building and construction industry.  For example, where you have incurred substantial...

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2019 Individual Income Tax Rates

2019 Individual Income Tax Rates

Australian resident individual income tax rates for 2019 have changed from 2018 rates and the Medicare Levy rate remains at 2%.  Consequently, for resident individuals this means if you don't have private health insurance you could pay a further 3.5% tax...

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Car Odometer Readings

Car Odometer Readings

Remember to record your odometer readings as at June 30 2019!  Also, make sure that your car log book is valid; a valid log book is one that is less than five years old and must cover a period of 12 continuous weeks.  Need a new log book?  Simply click on...

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Small Business Tax

Small Business Tax

From 2 April 2019, the instant asset write-off has also been expanded to include businesses with a turnover from $10 million to less than $50 million. For more information, click on Instant asset write-off and small business concessions. Thinking of purchasing assets...

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Bank Reconciliations

Bank Reconciliations

Make sure you reconcile all bank accounts up to and including 30 June 2019 and not to the end of the statement.  This includes all term deposits, loans, credit cards and don't forget Citylink (Linkt) or trade accounts.  Bank reconciliations will be...

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