New SMSF penalty regime – March 2014
New SMSF penalty regime to kick in on July 1, 2014 Did you know you may have to fork out $10,200 if you lend money to a fellow self-managed superannuation fund (SMSF) member or a relative who is in dire…
Macy
Private health insurance rebate – February 2014
FAQs By now, most people would know that the private health insurance rebate is being income-tested – effectively meaning that if you have private health insurance, the rebate you are entitled to receive depends on your annual income, your age…
Senior Australians & Pensioner Tax Offset – February 2014
Senior Australians & Pensioner Tax Offset explained After working (and paying taxes) for most of your life, it can be a good feeling to get to that stage of your life where it’s time to get some pay-back from the…
Small business benchmarks–February 2014
Tax Office small business benchmarks: Is your business at risk? The Tax Office’s small business benchmarks provide a snapshot of what it sees is happening in an average business operating in a particular industry by using financial ratios. The benchmarks…
Regulatory Roundup – February 2014
Insight Accounting News -February 2014 MYOB has five New Year’s resolutions for small businesses Accounting software provider MYOB has outlined its top five New Year’s resolutions for small businesses to define and redefine their business goals: Learn from last year’s…
Tax Office small business benchmarks: Is your business at risk?
The Tax Office’s small business benchmarks provide a snapshot of what it sees is happening in an average business operating in a particular industry by using financial ratios. The benchmarks are developed from information provided by businesses on their tax…
National Disability Insurance Scheme – February 2014
Tax guide on the National Disability Insurance Scheme The National Disability Insurance Scheme (NDIS) came into effect on July 1, 2013. Under the new system, disability support will be provided to eligible participants or their representatives on their behalf. The…
Monthly Client Newsletter – February 2014
Private health insurance rebate: FAQs By now, most people would know that the private health insurance rebate is being income-tested – effectively meaning that if you have private health insurance, the rebate you are entitled to receive depends on your…
Private Rulings – February 2014
Private rulings: What they are, and how they can help Taxpayers with a concern that a particular transaction they intend on undertaking (or have undertaken) may give rise to an unanticipated tax outcome can apply for a “private ruling” from…
SMSF audit and annual return – February 2014
Timely tip for SMSFs: Audit your fund before annual return deadline Many of you may just be getting back into your regular routine, but one thing to take note of if you are a self-managed superannuation fund (SMSF) trustee is…