By September 2, 2011

    The September edition of our Tax Update newsletter is now available for download from the main site. This issue includes information on: ATO Clamps Down on GST Fraud and Cash IncomeMeaning of ‘Cost Price’ of a Car for FBT Purposes ATO Data Matching: Flood and cyclone reconstruction levy Is an ...

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    The ATO will collect names and addresses of approximately 735,000 individuals who received the Australian Government Disaster Recovery Payment, and New Zealand citizens holding a special category visa who received an ex-gratia payment from Centrelink. This latest data matching effort, called the Temporary Flood & Cyclone Reconstruction Levy Data Matching ...

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    By August 31, 2011

    The start of a new financial year is a great time to do some thinking and planning as to what is happening in your business. A good place to start is – What is the purpose of my business? How much do you want to earn? How many hours are you prepared ...

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    By August 30, 2011

    Periodic Financial Accounts – Each month we consider questions related to the preparation of a business plan. This time we’re looking at periodic financial accounts. Are periodic financial accounts prepared throughout the year? If so, how often? Are other periodic accounts prepared on a detailed management basis to assist management ...

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    By August 8, 2011

    The August edition of our Tax Update newsletter is now available for download from the main site. This issue includes information on: ATO Focus on SMSFs Warning: Investing in Overseas Property New This Year to Family Tax Superannuation: Common Mistakes Made by Employers Car Depreciation Limit for 2011/12 Reasonable Overtime Meal ...

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    By August 6, 2011

    Taxation – Each month we consider questions related to the preparation of a business plan. This time we’re looking at Taxation. Have adequate systems been implemented for recording transactions relative to income tax?   Pay As You Go installments?  Pay As You Go withholding amount (withheld from salaries and wages)?  Pay ...

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    Practice Update – July 2011
    By July 18, 2011

    It has been almost a year since I posted a Practice Update. We have a lot of  news to share. For now, let’s stick with a tax-time update. Addition to the Team First of all, we would like to welcome aboard Sharen Griffin.   Sharen worked with Alan for many years ...

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    By July 14, 2011

    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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    By July 10, 2011

    We’re already receiving a few FTB supplement questions this year so it looks like time to update you on the current rates. FTB Part A and FTB Part B both include a supplement payment. This gets paid after you (and your partner, if you have one) have lodged your tax returns for ...

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    By July 7, 2011

    New tax thresholds were introduced at the start of the financial year for payroll tax in NSW. The annual payroll tax threshold is now $678,000 and the rate is currently 5.45%. From 1 July 2011, the monthly threshold is: 29 days = $53,721 30 days = $55,574 31 days = $57,426 ...

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    By July 6, 2011

    The July edition of our Tax Update newsletter is now available for download from the main site. This issue includes information on: Occupations in the spotlight for the 2011 income year Tax laws amended to allow income ‘streaming’ by trusts Flood levy exemption declaration Deductions for study and job seeking ...

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