Odds & Ends

Is debt ruling your life? Student debts, credit cards and personal loans can be a source of unnecessary stress and prevent you from enjoying other things in life. Clearing your debts doesn’t have to be hard work. With the right professional advice, it’s possible to get your finances on track ...

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Central Coast Accounting Firm seeks experienced office manager/ accountant. Alas, our fabulous office manager/senior bookkeeper is leaving us shortly. Sharen is off to manage the expansion of her own successful family business. We’re thrilled for her, of course, but I did consider the possibility of chaining her to the desk in her office ...

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From this week people applying for the Disability Support Pension (DSP), other than people with a severe disability or illness, will have to show they have tried to get help to find work before they can be eligible for the disability pension. Previously people could apply for the DSP without ...

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On Father’s Day the Australian Government started public consultations on its plan to introduce two weeks of paid leave for dads to take time off work to spend with their newborn babies. From 1 January 2013, the current Paid Parental Leave scheme will be expanded to include a dedicated payment ...

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A new data matching initiative between Centrelink and the ATO is expected to claw back millions of dollars from welfare recipients who have debts with the Australian Government. Beginning on July 1 this year, Centrelink and the ATO will automatically match data on a daily basis as a way of ...

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The recent spate of “get private health cover before 30 June or get taxed” campaigns really irritate me. I have nothing against Private health Cover and if you’re likley to be up for the Medicare Levy Surcharge (MLS), you should look into it. What bugs me is that unless you ...

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The Medicare Levy is currently paid by taxpayers at a rate of 1.5% of taxable income. Low income individuals or families might be eligible for an exemption or reduction from paying the Levy, based on family income. The 2010-11 Medicare Levy Low income thresholds for individuals and families are outlined below: ...

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Please remember that all employee superannuation guarantee contributions should be paid into funds by 28 July, 2011. All employee super contributions actually paid by this date will be eligible for a tax deduction. It is important to meet the 28 July deadline in order to qualify for a tax deduction ...

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Last year a significant number of employers incorrectly reported Reportable Employer Superannuation Contributions (RESC) on Payment Summaries.  It is important that employees check their Payment Summaries carefully. If your boss has filled out the RESC incorrectly, it could affect the amount of child support you pay or receive and your eligibility for ...

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Did you know that only one in five taxpayers who meet the eligibility criteria for the super co-contribution actually make a personal contribution in order to receive the additional government payment. The super co-contribution is a Government initiative to help low to middle income earners save for their retirement. You ...

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A lot of our clients have received an unexpected additional tax refund as a result of the ATO amending tax returns of eligible Youth Allowance recipients to include a deduction for study expenses. This came about thanks to the High Court decision in  Commissioner of Taxation v. Anstis. In the same way that ...

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