Free Financial Health Check

Weirdest Tax Deductions for 2018-19

Taking a look at the ATO's list of most unusual claims - including a years worth of children's Lego!

Personal income tax changes: You're NOT automatically entitled to $1,080

The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return.

What expenses can you claim if you work from home?

A lot of people do some sort of work from home. It might be simply answering emails on the couch or working from home a few days a week. So, what can you claim if you’re putting in extra hours?

Why the Government is banning business cash payments of $10,000 or more

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000.

Why you MUST make good record-keeping a habit!

Record keeping is a crucial part of any business. In addition to meeting your tax and superannuation obligations, having good records will give you a more accurate picture of your business to help you understand how you are doing, so you can spot potential problems sooner rather than later.

Why it's so important to check your myGov inbox regularly

Once you register for a myGov Account and link it to the ATO, you will receive important notices to your myGov Inbox. If you don't check it regularly, you could end up with late payments and demands! 

Laundry Expenses on ATO Hitlist

The ATO has warned they are closely reviewing claims for work-related clothing and laundry expenses. 

Super, insurance and exit fees: changes from 1 July 2019

From 1 July 2019, new laws prevent superannuation funds from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances will be moved to the ATO to try and unite the unclaimed super with its owner.

How to successfully integrate the new Single Touch Payroll system into your business

The STP system is now mandatory for (basically) all businesses with employees! Avoid headaches and make sure you have everything running like a well-oiled machine! 

Who has your personal data, and are they keeping it safe?

Regardless of whether you're engaging an accountant or bookkeeper or a hair stylist - if a business needs to store your personal information (email address and phone number included), make sure they are doing everything they can to protect your information!

Victorian State Tax Changes

What you need to know about the impending changes to land tax, payroll tax and land valuation in Victoria. 

Year End Tax Strategies for Individuals and Business Owners

We've put together a tax planning guide for both individuals and business owners. It includes updates on tax rates, general year-end strategies, changes to superannuation, and areas of focus for the ATO.

Super fund members risk losing life insurance cover

From July 1 2019, certain super fund members' default life insurance will be cancelled if their superannuation accounts are inactive.

How to prepare for a visit from the ATO

The ATO is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy. The plan on visiting over 10,000 businesses in the 2020 Financial Year. It's a scary thought, especially if you don't know what to expect. 

The countdown to 30 June is on! What that means for you...

Our June newsletter covers all the checklists and updates you need in your life as EOFY closes in! 

Are you on the ATO Watch-List?

A consistent theme this tax time is over-claiming and under reporting. The ATO are getting more sophisticated with data matching, and taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for you, your business and your SMSF.

Instant asset write-off: the good, the bad and the confusing!

The instant asset write-off threshold for businesses has changed several times in recent months. This means that different rules apply depending on when you purchased an asset.

The EOFY checklist you need in your life right now!

As always, the months have flown by, and we’re already nearing the end of financial year.  Here’s a handy checklist to run through to make sure you’re all up to speed as June 30 closes in.

Can you actually afford to retire when you want to?

Retirement planning should never be an afterthought, it plays too vital a role in your life. If you have a specific retirement age in mind, it's never too early to start working towards it! . 

Make your EOFY easier!

This month we're focusing on making your life as easy as possible in the lead up to the new financial year. 

What to do when you're in debt to the ATO

Dealing with the Australian Tax Office is a very common part of our job. While it does come with challenges, it brings so many benefits to our clients that wouldn’t be easily accessible if they were to try to tackle the ATO on their own.

ATO Doubles Rental Deduction Audits

In the 2017-18 financial year, Australians claimed over $47 billion in rental deductions, and the ATO will be auditing 4,500 of those returns to crack down on errors and undeclared income. 

2019 Land Tax Alert

There is a potential issue with the 2019 Land Tax Notices. We recommend you follow these steps to determine if you are affected. 

We ran for the kids!

A recap of our first Run For The Kids as #teamaintreegroup

Budget Breakdown 2019

The Australian Federal Budget 2019 was announced on 2 April 2019. It was very positive; the budget returns to surplus (of $7.1 billion) after more than a decade of deficits, and promises to deliver more jobs and build a stronger economy. 

Tax Planning Tips for 2019

Monthly snapshot with everything you need to know to get a head start on tax planning this year. 

Your business could be at risk of a very expensive super audit!

The ATO is cracking down on super obligations. Penalties apply if super is not in the account of your employee by the due date - and it could end up costing your business an arm and a leg. 

Exciting events and opportunities for our network

We've expanded our offering of seminars in 2019 designed to give you essential information, advice and opportunities for growth. All of these are open to our clients, family and business network to attend. 

What can medical professionals claim on their tax return?

Between equipment, insurance, overtime, travel and specialised clothing - it can be hard to sift through all the expenses you incur as a doctor or medical practitioner and find out what you can and can't claim on your tax. That's where we come in - we have years of experience supporting medical professionals with tax advice and planning, asset protection and make sure they're on track for retirement. 

"What would happen to my business if I passed away?"

Life does not always go to plan. While we logically know that, most of us don’t plan for the worst - it’s all a bit morbid and time consuming.The downside of not having a strong estate plan is the potential for hard earned assets to be squandered. If you are a business owner, then the stakes are even higher.


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