There are many ways in which entities can defer income, maximise deductions and take advantage of other tax planning initiatives to manage their taxable income. Taxpayers should be aware that they need to start the year-end tax planning process early in order to maximise these opportunities. Read more
SuperStream is a Government reform aimed at improving the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees by submitting payments electronically in a consistent and simplified manner. Read more
Small business restructures made easier
The Government has made changes to the tax law to provide tax relief for small businesses that restructure. The tax law changes provide an optional rollover for small business owners who change the legal structure of their business on the transfer of business assets from one entity to another. Read more
Small businesses restructure tax relief
Small businesses are important to the Australian economy, as they facilitate growth and innovation. As a small business develops over time, however, it’s initial legal structure may no longer be suitable for the business. Read more
Our cover story this issue tells the story of young Eliza and how Righteous Pups will change her life for the better. Eliza’s Heroes are a group of community-minded people who have trained for months to take on the Bendigo Braves at 2pm on Saturday 19 March 2016 at the Bendigo Stadium. Read more
Single Touch Payroll pilot and tax offset proposed
The Government is looking to cut red tape for employers by simplifying tax and superannuation reporting obligations through its initiative called Single Touch Payroll (STP). Read more
Making a difference in the long run
The cover story features our recent Corporate Cup win with 125 entrants in the 2015 Bendigo Bank fun run. We’re proud to part of this fantastic event, supporting rehabilitation services at Bendigo Health this year.
2016 Small Business Support
We are also preparing for a series of small business workshops in 2016 and we would appreciate your input via this quick survey.
Also in this issue:
- Unbundling phone and internet expense claims for work purposes
- Australian Tax Office ‘certainty’ letters
- SMSF borrowing ban recommendation
- Proposed fringe benefit tax (FBT) changes – Car expenses and FBT concessions on entertainment
- Unsolicited ATO phone calls – look out for friends, neighbours and those more vulnerable in the community
- Giving Cash for Christmas – Tax implications on the gift of cash from Venture Financial Advisers
We hope you find this issue informative, should you wish to investigate any of these matters, we encourage you to contact our office.