A few reminders and pointers for you as we race towards June .. All our clients will shortly be receiving an offer to take up our optional ATO audit insurance offer for 2017/18. Remember the ATO can audit returns many years after they are lodged & (unlike normal law) you are deemed guilty until you… Read More Updates & Deadlines
It is often the case where one partner slogs away at home bringing up the family and the other escapes on a regular basis to go to work, that at the end of the day your superannuation balances may be very uneven. With the introduction of the $1.6m cap it is more important then ever… Read More Managing the $1.6m Super Cap
Finally, the proposed super reforms have gone through with many changes to take place from July 2017. One of these well publicised reforms is a change to the Non-Concessional Contribution (NCC) cap, which is to be reduced to $100k p.a. (previously $180k). However, there are further changes to the NCC affecting those of you lucky… Read More Quick – get those Non Concessional Contributions in now
The budget super reforms have now passed the senate and only require royal assent to become law, which is thought to be a mere formality. The major changes are as follows Introducing a $1.6 million transfer balance cap which limits the amount that can be transferred to the retirement phase, where earnings are tax-free. This… Read More Super Reforms Passed
The September tax instalment notices have recently been issued. You may notice that if you had previously varied your instalments down, they will have bounced back up again. This is due to the fact that the September instalment is the first instalment for the 2016/17 year. As this is a new tax year, the ATO… Read More Why have my PAYG instalments bounced back up?
Today the Treasurer has announced changes to 2016 Budget super reforms. These are not yet legislated and could of course change again, however it is a start; The changes to the proposals are: The $500,000 lifetime cap for non-concessional contributions (NCCs) will be replaced with an annual $100,000 non-concessional contributions cap. So they have removed… Read More Further Changes to the Proposed Super Reforms
The checklists to assist you in putting together your 2016 tax papers are ready. Please ensure your contact details on the first page are correct – especially your mobile number and email address. Click here to access
For those of you that are employers or have an SMSF that is paying a pension your PAYG annual summaries are now due. The ATO will probably have posted pink forms to you for completion. The forms are always sent direct to you. Employees need to be given their copy by 14th July and the… Read More PAYG SUMMARIES NOW DUE
Believe it or not there is still the possibility to get some free money from the government. The superannuation co-contribution is hanging on in there for a little longer so make use of it if you can and grab up to $500 of free cash. Even better, why not pop some $ into the kids’… Read More Tax Tip 2019 : More Free Money from the Government
Do you have a spouse? Would you like to pay $540 less tax? If the answer to both of these is yes then read on as it is still possible to get a tax offset for superannuation contributions made on behalf of your spouse. It’s free money from the government, so if funds allow, why… Read More Tax Offset for those with a Spouse
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