Those of you with an SMSF where at least one member has a balance of more than $1m, need to be aware that there are several events that now need to be reported to the ATO in real time – ie not after the end of the year when we are preparing your tax returns.… Read More SMSF real time reporting
The last week has seen a drop in the markets which can be a testing time for the uneducated investor. The temptation is to sell as markets fall (as it’s all a bit scary), and conversely to buy when markets are going up (as everyone else is doing it and it feels good). However selling… Read More Don’t be a lemming
This link is a great new guide on financial well being for all the women you know, but especially the next generation of (hopefully) financially savvy girls. Suitable for all ages, it covers all the big milestones (good & bad) such as….. Your first job Moving in with your partner and getting married Buying your… Read More Finance for Daughters – and all other women!
Don’t forget that if you have employees you need to give them a PAYG summary for the year by the 14 July & report to the ATO. These should be prepared after the June payroll has been run. The ATO may have already sent you paper forms (they are pink) to complete which you can… Read More PAYG Summaries
Tax planning is always best done throughout the year, rather than in a mad scramble in June. I know the various blogs & newsletters posted over the year have triggered most of you into action already. However, I also know tax planning sometimes gets forgotten. Therefore I have put below some headings and links to prior… Read More Year End 2018 – top tips
New rules this year, for the first time allow anyone to claim concessional super contributions as a tax deduction. This is very exciting. Full details of the changes are in this previous post. However as we near the year end, here is a quick summary of the important bits ……… This will be a useful… Read More Did you forget to Salary Sacrifice?
Another year, another budget and another raft of changes. Remembering that nothing is legislated, and it may all change and be tweeked as it goes through parliament, here is a brief synopsis of the main points of interest. Most of the changes this year are fairly minor, with lots working to eliminate the cash economy and get everyone paying… Read More Budget Update
Single Touch Payroll, is on the way. You can relax for a year if you have less than 20 employees, but for those with more than 20 employees the fun starts on 1st July this year. Single Touch Payroll changes the way employers will report their salary and wages, pay as you go (PAYG)… Read More Single Touch Payroll
Low Cost Asset Write Off The $20,000 immediate deduction threshold for assets purchased by businesses with an aggregated turnover of under $10 million ends 30 June 2018. If you are a small business, and eligible to access this deduction, it’s your last chance. So if you NEED plant and equipment there is a argument to… Read More Last Chance for the 20K Deduction
Remember to check out the newsletter page on my website for our regular tax updates. This month includes the tax aspects of Bitcoins – yes contrary to popular belief there are tax ramifications! – and how renting part of your home, through for example AirBNB, will potentially cost you in capital gains on the eventual… Read More Bitcoins & Tax
Bridgland & Co Blog 