Have you lost important tax paperwork? Finding a replacement is not as hard as your think. This article shows the quickest way to find lost tax records, including old PAYG Payment Summaries (aka lost group certificates). Key points The ATO has "pre-filling reports" which are available on-demand for the 2008-09…
Tax dodgers to get the "Underbelly" treatment The ATO has sent a warning to tax agents about clients with overdue tax returns: hurry up and lodge, or we'll lodge for you! They are threatening to use a tactic you might have seen if you watched series one of Underbelly. (More…
The special 2012-13 budget edition of our monthly newsletter is available now for download for clients and website subscribers of Beyond Accountancy. To get your copy of the budget update please subscribe to our newsletter using the form on this website. Headlines: Super contributions limit cut for people over 50…
The government is pushing for major changes to the Living Away From Home Allowance (LAFHA) which will wipe out many of the tax benefits for temporary residents from 1 July 2012. Tip: if you want skip the background information and go straight to the new rules, scroll down to the…
As the deadline approaches for the latest quarterly business activity statement (BAS), there will be many business owners starting to stress. The quarterly chore of lodging a BAS holds as much anticipation as an appointment with the dentist. Where are those receipts I was keeping? Can I claim GST on…
Every year, the ATO gives special attention to certain occupations when deciding who to audit. Have you ever wondered why teachers are on the hit list every couple of years? According to the ABS, there are 280,000 teachers in Australia. This makes teaching one of the most common of all…
In this YouTube video I'll explain how much tax benefit you get from your tax deductions. You don't get $100 back for every $100 of deductions - it's actually only a percentage. Watch the video to learn: - why being reimbursed by your employer for work expenses is probably 3…
My latest You Tube video is about the medicare levy surcharge. The surcharge is a 1% penalty tax that applies to individuals who are earning medium to high incomes and do not have private hospital insurance. Insurance salesman on the TV and radio try to use this rule to get…
Here are some helpful tax and business resources elsewhere on the web. abr.business.gov.au/ Australian business register. Apply for an ABN or update your details. Look up an ABN using the ABN Lookup search. www.asic.gov.au ASIC monitors companies (Pty Ltd) in Australia. Use this site to lodge ASIC forms and search…
You can download a summary checklist of what to bring in pdf format: Client Checklist - What Should I Bring Documents to bring to your accountant Clients often ask us what documents they should have in preparation for their tax appointment. One of the simplest ways to work out what…