It’s not even Christmas yet, but like Scrooge the government are tightening up their belts and counting their “pennies”.
The government have hit the retired and semi- retired with potentially reduced benefits. Read the article here to get the full story.
If you were thinking of claiming your personal usage of your iPad, Android or electronic device as a business or work expense, think again. The government are “counting your pennies” and are using advanced tracking software to make sure your are paying the right amount of tax. Check the article here.
Roy A McDonald and the team!
PS:Do you know someone who would benefit from the article for retirees- share this newsletter with them now.
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Are you really using your laptop, smart phone or electronic “device” for business or work?
The ATO has advised they are focused on what people are claiming as specific work related expenses. This financial year, The ATO are watching people who due to their occupation type, are claiming a tax deduction for using their computer, mobile phone or other electronic “
The government have just confirmed the details surrounding what most retirees feared,
Here are some key questions to determine if you should investigate switching to Xero from your current accounting software or if you should buy Xero for the first time:[/col_2]
- Is it important to know how much money you have in your business bank account
- Does your software or spreadsheets allow you to see how much money you have in your business bank accounts? Over the course of a month how long do you spend doing your bank reconciliation?
- Have you ever sent an invoice to someone that owes you money and they’ve turned around and said “I didn’t get your invoice?
- Has your accountant or bookkeeper ever asked you to provide them with your receipts, invoices or memorandum?
- How long does it take you to process your super payments?
If you feel you don’t want to claim the wrong amount of work related expenses, or want to see if there is anyway we can help you with your government benefits it might be time you made an appointment. You can contact us below.
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), Protecting You and Your Loved Ones, Tax Accounting and Business Planning.