tax agent north rocks Archives - W Wen & Co | Chartered Accountants & Business Advisors

Call our qualified superannuation advisors now on (02) 9871 3429 to see how we may assist in your taxation and superannuation planning.

Taxation Updates: Concessional Contributions To Superannuation

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 […]

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To avoid any unpaid trust distribution being treated as a deemed dividend, call accountant Wen Wen for accurate advice on (02) 9871 3429. Serving North Rocks, Parramatta, Sydney Hills - image

Trusts | End Of Financial Year Preparation

Unpaid Trust Distribution to Private Companies Distributions made by trusts to private companies which remain unpaid at the end of the following year may be deemed to be a loan to the trust and become subject to Division 7A. To avoid the unpaid distribution being treated as a deemed dividend, please see your accountant and

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Protect yourself against director penalties with accurate company taxation advice from W Wen and Co (02) 9871 3429 - Accountants serving North Rocks, Sydney Hills, Parramatta -image

Company Taxation Preparation for End of Financial Year

Director Penalties Company directors should review their company’s reporting mechanisms to ensure that they are informed of their company’s financial position. Directors are personally liable where their company fails to make PAYG Withholding and SGC payments by the respective due dates. Carry Back of Company Losses The loss carry back rules are proposed to come

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2013 Federal Budget

Mr Wayne Swan announced a deficit of $18bn in 2013-14 The Federal Treasurer, Mr Wayne Swan delivered his sixth budget on 14 May 2013. The Treasurer announced a deficit of $18bn in 2013-14. The Government said it expects the deficit to fall to $10.9bn in 2014-15 and return to a small surplus ($800m) by 2015-16.

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Tax Tips for 2013 Financial Year:

Your accountant can help you legally maximise your tax return Here are some changes you may want to keep in mind: Changes to the tax-free threshold for low-income earners From 1 July 2012, the tax-free threshold increased to $18,200, and the low-income tax offset reduced to $445. A low-income earner’s effective tax-free threshold is now

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W Wen & Co. provides tax advice regarding to foreign source income and help clients to liaise with the Tax Office.

Foreign Income of Australian Residents

Foreign source income alert from ATO Recently the ATO issued a tax alert TA2012/1 in relation to foreign source income by Australian tax residents. The alert applies to arrangements which feature the following: 1. An individual (“the taxpayer”) is a resident of Australia for tax purposes 2. The foreign source income may include (but

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