I have written over the past few year or so about the upcoming need to pay superfund contributions via superstream. Now the deadline has arrived for small businesses. It’s compulsory from 1 July 2016. Therefore the April super payments are the last time you can pay super contributions for your employees (or yourself) using cheques,… Read More Superstream – No avoiding it now
This post comes as we hopefully enjoy some time off and lots of chocolate over the Easter weekend. Hubby is away and I am not sure where he has hidden my Easter egg, but I am sure he has put it somewhere and not forgotten! But for some, unfortunately this time of year is not… Read More Easter Eggs and Huge Tax Bills!
Update for 2016. Due to changes since the release of this post, please note the following updates; the $150k non concessional cap referred to in the video is now $180k; and the age at which you can start your transition to retirement pension is linked to your date of birth and may be higher than age 55. … Read More Why Super is so Super
Transition to retirement pensions enable those who are still working to turn their superfund into a tax free pension earlier. The main benefit of this is that the pension fund pays no tax on its income earned or capital gains, enabling it to grow more quickly. The date at which you can turn on a… Read More When Can I start a Transition to Retirement Pension?
Hi Homeowners Thinking of renting your home (or part of it) on AirBNB or some similar website? It should be pretty obvious that the income, less relevant deductible expenses over the period of the let, will be taxable and needs to go on your tax return. However, you also need to be aware that as soon… Read More AirBNB
Dear Employers Just a reminder that in order to ensure you can claim a deduction for employee super you need to pay it on time. If you pay it late. it may not be not deductible as an expense to your business. Additionally there is lots of hideous paperwork required to pay any late super direct… Read More Employee Super is Due
Hi When you have a moment spare, take a look at this month’s tax tips newsletter to be found on the newsletter tab of the website, or by clicking this link. Don’t forget these tax tips newsletters are published every month. Lindsay
Hi I loved this article and wanted to share it with all those of you who may be grappling with IT costs & social media when running a small business. Click here to read Running your business on a $1 a day I hope you enjoy it, and if you want to discuss the Quickbooks online cloud… Read More Running your business on a $1 a day
Hi Did you know that I am one of the few Chartered Accountants who is also a financial planner? There are not many of us around – we are a very rare breed. So why do I do both? Well I think it is really important that your financial adviser understands your tax affairs. In… Read More Choosing a Financial Planner
Hi So this is one of my favourite strategies for those that want to give their kids something really special & long lasting, and it is so simple. I wish someone had done it for me! First off, did you know that a child of any age can open a superfund – they just need… Read More LOOK AFTER YOUR KIDS IN THEIR RETIREMENT
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