From 1 July 2014, the Medicare levy for individual resident taxpayers will increase to 2% of taxable income No change has been proposed to the Medicare levy surcharge which is currently imposed at a rate of 1% to 1.5% (depending on the income levels and marital status of the individual resident taxpayer) Employees face immediate […]
Medicare Levy To Rise Read More »
For help to meet your taxation and reporting dates, call Wen Wen on (02) 9871 3429, chartered accountants serving Epping, Parramatta, & Sydney Hills District: 21 April – March 2014 monthly activity statement – due date for lodging and paying. 15 May – 2013 income tax returns for all other entities that did not have
Key Taxation Compliance Dates Read More »
Capital gains tax concessions can be challenging to assess If you plan to apply capital gains tax (CGT) concessions against the sale or disposal of a small business asset such as property, shares, collectibles or precious metals, you want to make sure that you consult with an expert advisor before you take any action.
Specialised Advice For Small Business Capital Gains Tax Concessions Read More »
What Are Small Business Benchmarks? Small business benchmarks are financial ratios developed to help compare the performance of similar businesses in an industry. They: are representative of returns and activity statements in a given industry provide guidance on what figures the ATO would typically expect a business in a particular industry to report. Why the ATO uses
Small Business Benchmarks Updated By ATO Read More »
What are concessional contributions? Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap. A contributions cap sets a limit on the amount of contributions you can make in any one year. Concessional contributions include: employer contributions (including contributions made
Taxation Updates: Concessional Contributions To Superannuation Read More »
Registered auditors for Self Managed Super Funds From 1 July 2013, SMSF trustees are required to appoint an approved SMSF auditor who is registered with the Australian Securities & Investments Commission (ASIC) to conduct audits. Check your SMSF auditor’s registration with ASIC You should check whether your SMSF auditor is registered with ASIC. ASIC maintains
Self Managed Super Funds Updates Read More »