Change to deductions for personal super contributions

Up until 30 June 2017, an individual (mainly those who are self-employed) could claim a deduction for personal super contributions where they meet certain conditions.

One of these conditions is that less than 10% of their income is from salary and wages.  This was known as the “10% test”.

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Tax Planning 2

The Importance of Tax Planning – What it means and how we can help

An important part of the service we provide to our clients is a review of the financial performance of your business and your projected tax situation before the end of the tax year.

This review allows us to assist with estimating the amount of income tax payable for this year, and to implement any tax saving strategies before 30 June.

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Tax Breaks Magnifier

More taxpayers can access the benefits of being an 'SBE'  

Broadly speaking, for the year ending 30 June 2017, a business taxpayer will be an SBE if its ‘aggregated turnover’ is less than $10,000,000.

That is, where the business' ‘aggregated turnover’ (taking into account the turnover of the entity carrying on the business and the turnover of its related parties) is less than $10,000,000.

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Scam Alert

Using social media? Be aware of tax scams!

The ATO has advised that, in the lead up to tax time, it's important to be aware of what taxpayers share on social media.

Note that scammers may also try to impersonate a tax agent (or their practice) and try to trick recipients into providing personal information or to release funds.

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