DECEMBER 2015 Friday 25 December (Christmas Day) Saturday 26 December (Boxing Day) or Monday 28 December 2015 where a substituted day has been declared. 2016 PUBLIC HOLIDAYS – VICTORIA Friday 1 January (New Years’ Day) Tuesday 26 January (Australia Day) Monday 14 March (Labour Day) Friday 25 March (Good Friday) Saturday 26 March (Saturday before […]
Many business owners wish to thank their employees for their assistance during the year, by way of providing a Christmas function to them. As business owners you need to be aware of the various implications when providing these. For tax purposes you need to be aware of any possible FBT implications of any function you […]
As of 1 January 2016, if you have a Higher Education Loan Programme (HELP) or Trade Support Loan (TSL) debt and you relocate to live outside of Australia, you will have the same repayment obligations as those who live in Australia. This new ruling will be applicable if you already live or intend to live […]
Not all fuels and activities are eligible for the Fuel Tax Credits system. Ineligible fuels include: Aviation fuels (aviation gasoline and aviation kerosene) Biodiesel or fuel ethanol, unless they are part of a blend with another fuel Non-transport gaseous fuels (non-transport gaseous fuels were eligible for some activities before 1 July 2014). Additives, like diesel […]
As a firm we choose to support charities which are close to our heart. Sunday 25th October, saw a few of the female staff members attend the second largest Breast Cancer Brunch in Australia. The Shepparton News Pink Ribbon Brunch has been held over a number of years and each year it becomes bigger and […]
31st October 2015 is the due date for tax return lodgement for all entity types (individuals, partnerships, trust, companies and superannuation funds) with one or more prior years outstanding as at 30th June 2015. This means all prior year returns must be lodged, not just the immediate prior year. Failure to lodge outstanding prior year […]
When you choose to link your myGov account to the ATO, you will automatically be subscribed to receive eligible letters online as messages through your Inbox. You will receive a welcome message from the ATO in your myGov Inbox to confirm the service is enabled. By linking the ATO and accepting the ATO myGov terms […]
The ATO are reminding tax payers to be wary of phone scams. At the present time scammers are impersonating ATO employees and demanding payment for outstanding debts or offering an unexpected refund. Phone scammers can be rather aggressive, forceful and at times threatening. They may tell tax payers that there is a warrant for their […]
Social Security Changes to income test for Commonwealth Seniors Health Card (CSHC). If you have a CSHC or would like a CSHC you need to be aware of changes to the income test for this concession card. Account based pensions started or altered after 1 January 2015 will be subject to deeming. This income is […]
Do you own collectable or personal use assets in your SMSF? 1 July 2016 sees the transitional provisions for collectable and personal use assets expire. These provisions apply only to assets held by a SMSF prior to 1 July 2011. Collectable and personal use assets held prior to 30 June 2011 were granted a 5 […]