Newsletters
Just a reminder that every month we put a tax update newsletter on to the website for you, full of tax tips and traps. The budget update has been added today, so why not take a look. Click for newsletter page Lindsay
Category: News
Tax office audits
Hi Just a heads up that the renewals for our ATO audit insurance will be with you in the next day or so. The policy represents great value, covering the first $10,000 of our fees should you be audited (on any past return) in the next year. Those especially at risk of audit are anyone… Read More Tax office audits
Superstream – time to get ready
You may have heard of superstream over the past year or so, but have probably been able to ignore it to this point. However, if you pay wages to anyone (even if only to yourself), you need to start using superstream to make super contributions from 1 July this year. It’s compulsory. Don’t panic, as… Read More Superstream – time to get ready
Newsletter
Hi Click here to access our tax newsletter for February 2015 . Full of useful info including things to consider when buying property in your superfund and some myths about whether you (or your workers) are contractors or employees. Lindsay
Where is my BAS?
You may remember that I have mentioned the ATO is converting paper BAS to electronic BAS over the next few months. If you are one of the chosen ones (and we have not been told who these lucky people are), as part of this process the ATO may have chosen (a sometimes apparently random) email address… Read More Where is my BAS?
ATO Audit Hotspots for 2014
The ATO have released their audit hot spots for 2014, which interestingly has a different slant to normal. You can read the full detail of the compliance program on the ATO website, but it is rather long! However, as far as individuals are concerned, Instead of targeting particular occupations, this year the ATO will be targeting particular deductions.… Read More ATO Audit Hotspots for 2014
Have you forgotten to declare foreign income?
Sometimes we find that people have, what could delicately be termed as, “forgotten” to declare foreign income. Perhaps they didn’t realise they had to, or they had forgotten they had a flat in the UK, or that if they worked overseas but forgot to take their wife and kids with them they were still resident for Australian tax… Read More Have you forgotten to declare foreign income?
Budget Summary
Budget Summary If you want a factual summary of last nights budget have a look at the attached link which expresses it well. Less political noise than most of the updates around in the press today. Lindsay
New ATO Penalties for SMSFs
The ATO have a new arsenal of weapons for SMSFs that fail to follow the rules. For contraventions that occur after 1 July 2013, the table below shows the (massive) fines applicable PER trustee. That is if you have two individuals as trustees you can double the amounts shown. A huge incentive to get your… Read More New ATO Penalties for SMSFs
21 DAYS TILL DEADLINE
Hi A reminder to those who are having problems motivating themselves to get their June 2013 tax papers to us, all 2013 returns must be lodged by the 15th May to avoid being fined by the ATO. The current late lodgement fine is over $550 – so get a move on! First come, first served. Lindsay
Bridgland & Co Blog 