Business person working

The New Simpler BAS not delivering time and cost savings yet

The ATO has done small businesses a favour by releasing Simpler BAS. But does it really live up to its promise of time and cost savings for businesses? The New Simpler BAS Businesses with turnover under $10 million can take advantage of…
People walking to work

ATO given increased powers to enforce employer superannuation obligations

The ATO recently announced that the Superannuation Guarantee gap - the difference between what employers should be paying employees and what they actually are paying - was $2.85 billion for the 2014-15 financial year. Reports also suggested…
Director Penalty Notice part 3

How to avoid a Director Penalty Notice from the ATO (Part 3 in a series)

This is part 3 of a 3 part series on director penalty notices. You can read Part 1 here and Part 2 here.How do you avoid Director Penalty Notice liability? The steps below outline the best way to go about NOT receiving a Director Penalty…
Director penalty notice what can happen

Received a Director Penalty Notice from the ATO? Here’s what can happen (Part 2 in a series)

This is part 2 of a 3 part series on director penalty notices. You can read Part 1 here and Part 3 here.The Australian Taxation Office (ATO) can issue a company director with a Director Penalty Notice to recover the company’s unpaid…
Director penalty notice part 1

ATO Director Penalty Notices (Part 1 in a series)

This is part 1 of a 3 part series on director penalty notices. You can read Part 2 here and Part 3 here. ATO Director Penalty Notice The Australian Taxation Office (ATO) is able to recover a company’s unpaid PAYG Tax and superannuation from…

ATO warning: work-related car expense claims

 Do you often claim work-related car expenses as part of your tax returns? If so, it's important to be aware that the ATO will be paying particular attention to such claims this year.The ATO said recently that in the 2015/16 financial…
woman working at home

Practical tips for setting and managing your budget

 We're well into the new financial year, and perhaps you were very organised and set yourself some financial and budgetary goals for the year. Or, maybe you're like many people and keep meaning to set goals, but just can't seem to find…
Man standing in his own shop

As a business owner, have you considered your 'end game'?

Why do you own a business? It's an interesting question. And sometimes we're surprised by the number of business owners who haven't taken the time to consider this fundamental question: why are you in business? What's your end game?From…

Final tax planning tips for EOFY 2017

While the end of the financial year is almost upon us, there are still a few things you can do to minimise your tax obligations. Let’s focus on three different ways. 1. Make a large Superannuation contribution The law has changed quite significantly…

What are the real advantages of a Self-managed Super Fund (SMSF)?

I see a lot of claims in advertising which talk about certain advantages for Self-Managed Super Funds (SMSFs). However, many of the advantages are also available for other forms of Superannuation.  So what are the real advantages?  I’ll…
Building house

Self-managed Super Funds and Related Builders

We recently published a piece about the restrictions on Self-Managed Super Funds (SMSFs) acquiring assets from related parties (see that blog piece here).   The short version is – with very few restrictions, you can’t do it.So –…
Hand holiding Australian money indicating bonus superannuation contributions from the government

Are you eligible for bonus Super from the government?

Have you:Been working part-time? Ceased work this year to start a family? Re-joined the workforce during the year? Been out of work for part of the year? Had other reasons for a limited income this year - below $37,000?Currently,…
hand working out calculations

Self-managed Super Funds and Related Party Acquisitions

Monies held in Self-managed Super Funds (SMSFs) form the largest sector in the superannuation area in Australia, with assets now totalling around $600 billion.In the five years to 2016, the number of SMSFs grew from 440,000 to 577,000. …
House with 'For rent' sign outside indicating a rental property

New depreciation rules proposed for residential property investors

The good news: they only apply to properties purchased after 9 May 2017. The Federal Government has proposed adjustments to depreciation legislation in the 2017 Budget. Under the new rules which are yet to be legislated by Parliament, investors…
2017 Federal Budget

2017-2018 Federal Budget Update

We are here to help our clients achieve the best outcomes with tax, business and money.  To do that we need to stay on top of the changing tax landscape, and adopt careful tax planning strategies.  That includes keeping an eye on the changing…
Tax planning man looking ahead at road

Tax planning starts now

30 June will be here before we know it. Let us help you get the most out of the upcoming weeks.If you’ve left your tax planning until the end of May and early June, then the time remaining to legally reduce your tax is getting very tight. …
Scam emails hacker on computer

Is it a hoax? 8 tips for identifying scam emails

Scammers are getting smarter and smarter and, according to a recent news.com article, Australia is the second most targeted country in the world for email scams, also known as phishing.The email will usually appear to be from a bank, telecommunications…
Superannuation changes July 1

How will the July 1 changes to Superannuation impact you?

A number of changes to the rules governing Superannuation will come into effect on 1 July this year. Let’s take a look at what’s about to happen.The cap on concessional (pre-tax) contributions to your Super will be limited to $25,000…
The relationship of time to money - the 2% rule

Understanding the relationship of time to money, part 3: The 2% Difference

Understanding key principles and turning them into habits will help to put you on the right path to achieving your lifestyle and financial goals. We know that we will do more of something when we understand it.The next key principle is….The…
Financial success seminar

Free Seminar: Eight Habits for Financial Success

  Wednesday 5 April 2017, 6 pm to 7.20 pm  This seminar is for everyone who wants to know how to achieve their financial goals. No tricks or get rich quick promises, just proven results.Some highlights:Understand how…