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Australia’s Longevity Outlook

Australian's living longer

  Talk of Australians’ rising life expectancies has been making headlines as of late. The latest data from the Australian Bureau of Statistics projects a “life expectancy at birth” age of 79.9 for men and 84.3 for women. But representative body the Actuaries Institute said those who have already reached the age of 65 can […]

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Act Now To Secure These Business Deductions

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Small businesses may want to act now and bring forward their capital purchases if they still wish to utilise the instant asset write-off of $6,500 or the $5,000 motor vehicle write-off in 2013-14. The details of the government’s repeal of the Minerals Resource Rent Tax (MRRT) make it clear that some small business tax concessions […]

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Tax help for people affected by bushfires

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The ATO have said that refunds will be fast tracked for people directly affected by bushfires and they will have additional time to lodge income tax returns and activity statements. “You do not need to apply for a deferral or a faster refund if your business or residential address is in one of the identified […]

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New Government Likely Tax & Super Changes

New Government Likely Tax & Super Changes

With a new Coalition government in Canberra, several aspects of the economic environment, both for businesses big and small as well as for individuals, look likely to change in the near future. While specific details are still to be formulated and released, there are several known policies that the Coalition have outlined and that are […]

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How long does it take to earn the price of a beer?

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Every year in the Bavarian city of Munich, the Oktoberfest famously celebrates beer in all its forms. Over the 16-day event, visitors manage to consume around 7.6 million litres of the amber fluid, which sold at a recent festival for an inflated asking price of €9 (around $13.50) per litre, which is the capacity of […]

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Increase in Medicare levy to affect other tax rates

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By now, most of you will be aware of the government’s decision to increase the Medicare levy by 0.5% to fund Australia’s DisabilityCare program. From July 1, 2014, the Medicare levy will increase from 1.5% to 2% of taxable income. What many people may not realise however is that the Medicare levy increase will cause […]

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Private Health Insurance Tax Return Changes [Video]

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From the 2012–13 financial year (so for your current tax return), the private health insurance rebate is being income tested against three income tier thresholds. This means if you have private health insurance, the amount of rebate you will be entitled to receive is reduced if your income is more than certain threshold income amounts […]

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Hurrah! Loss carry-back measures finally law

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Businesses can rejoice in the fact that the much talked about loss carry-back measures were finally passed by Parliament just days before 2012-13 ended, in a move to benefit more than 110,000 Australian companies. The loss carry-back law provides a company with the choice to carry back up to $1 million of losses against profits […]

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Experienced Office Admin for Central Coast Accounting Firm

Now hiring

  An opportunity exists for an experienced Office Administrator to join the team at Alan Lewis Accountants. We are a fast-growing  Central Coast firm based in Lake Haven. This role is hands-on and requires someone who is self-motivated and has the ability to work independently as you will be responsible for managing the many day-to-day […]

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What’s the best way to spend your tax refund? A few good ideas

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It is not unusual for a person to let out a big whoop of joy when they receive their tax refund but bear in mind – the refund is tax you have overpaid, not the lottery. To ensure you make the most of money that you have worked hard for, a wealth management expert has […]