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?
It probably does not come as a surprise to you to learn that insurance brokers selling life, TPD, income protection and trauma policies get paid a commission from the company issuing the policy. What can come as a shock is the size of the commission which nowadays is generally 115% of the first years premium. For example if… Read More What your insurance broker doesn’t want you to know
You never know what is going to happen tomorrow. You might be in great shape today, but you can’t take it for granted that everything will be that way forever. That is why you should apply for your insurances when you are as young as possible, before things go wrong. This seems to be in… Read More Insurance Made Simple & Affordable
Hi The checklists to help you prepare your 2014 tax paperwork are ready. You can access them by clicking on the links below. Personal 2014 tax return checklist Cathay Pacific Pilots (including commuters) additional checklist SMSF checklist Company checklist Any questions please give me a call Lindsay 0413 952 180
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
A few reminders for you all, which will hopefully make you a little more comfortable in retirement … If you are an employer (even if your only employee is yourself), then from the 1st July the SGC has increased to 9.5%. Make sure you therefore increase your employee super amounts in the next pay run,… Read More Super ! Contribution Limits Increased
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 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
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
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
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