Single Touch Payroll (STP), is an Australian Government initiative to reduce employers' reporting burdens to…
May 2013 Newsletter
Welcome to your new easier to read and share newsletter. Our new online monthly newsletter will continue to provide you with latest ideas and advice on your accounting and financial planning. Our content is to the point, and aims to help you identify ways to save time, money and stress!
This month, we release fresh information from the Australian Tax Office [ATO]. They’ve introduced some new strategies to assist their ongoing crackdown on the cash economy.
Recently the government presented a range of proposed changes to superannuation policies. We’ll also review government changes to your superannuation. How will these effect you? Our easy to follow break-down of these proposed changes will help you understand their effects.
If there’s a financial or accounting topic you’d like us to discuss – feel free to tell us all about it. We’ll complete some research and aim to include the results in an upcoming newsletter.
Roy McDonald and the team!
PS: If you know someone who runs a business or would benefit from receiving this newsletter – feel free to share this with them! It’s easy –Click here to share
Snap! The ATO is watching you in more ways than you know!
It’s the ATO’s job to ensure all taxpayers contribute fairly [and legally] to enable the running of our country. You will not be surprised to know that the ATO use a range of strategies to ensure everyone is paying the correct tax. When the ATO discover people who are not complying with their obligations, or detect fraud, they’re not afraid to prosecute and recover tax losses and their costs.
Have you heard of their new automated checking system? Known as “Data Checks,” the ATO automatically draws data from a very wide range of sources – it appears no stone is left unturned. Shortfalls or inconsistencies that indicate tax fraud or avoidance are investigated further.
As this new process is automatic, the ATO estimates it will match over 600 million transactions in the next financial year.
What are these data checks, where are they checking and how can they affect you? Find out!
Convenience meets experience and the right advice
Accounting and financial matters are so important to our quality of life. You know that our easy to understand approach demystifies your financial questions, concerns and challenges so you can continue to manage your business, look forward to retirement and enjoy life! Now it’s easy for you to help your friends, family or work colleagues receive the same level of financial and accounting care – refer them to us.
They’ll receive complimentary assessment of their superannuation and financial matters. We provide an unbiased review and if nothing else, a valid second opinion. The meeting is complimentary, there’s no hard sell, just good advice. For referring a potential client to us, who moves ahead– you’ll receive a voucher, gold class movie ticket or something else?
It’s easy to refer and there’s no hard sell or pressure – just professional, independent analysis.
To refer – simply provide us with contact details or give us a call on 9848 5933
What’s going to happen with your super?
Changes to superannuation often make people nervous, confused or angry. The government recently announced another round of changes to superannuation rules. How will ongoing tweaks affect your nest egg?
The latest proposed changes include:
- Increasing the contribution cap (which can save you tax)
- Option to withdraw excess super contributions (that exceed the contribution cap)
- Taxation on pension earnings over $100,000
These announcements are only proposals at this stage and need to be passed by Parliament.
The Government (in their own words) believe their proposed changes will increase the fairness of the concessions provided for superannuation.
What do these potential changes mean? How will they impact on your retirement? Before you make up your mind, we have summarised the major proposed changes and placed them into a brief, easy to read format – click here and see how your superannuation may change if the proposals are passed
Roy A. McDonald together with Lindale Insurances provide easy to understand and unbiased financial advice and accounting services including: Superannuation and Retirement Planning, Investments, Estate Planning, Social Security advice (to maximise your entitlement) Risk Management, Tax Accounting, Tax and business planning.
Getting started is easy – simply call us today on 03 9848 5933 Our no cost, no obligation review could be just what you’re looking for.
This Post Has 0 Comments