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News & Analysis

Budget update 2012-13

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…

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ATO not laughing at LAFHA

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…

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Why does the ATO pay so much attention to teachers?

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…

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Medicare Levy Surcharge

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…

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Key Capital Gains Events 2010-11

By Jarrod Rogers CPA Updated 24 Aug 2011 to include Tabcorp and Westfield Each year, the ATO releases a list of Capital Gains Tax (CGT) events that affect shareholders of commonly held shares. You can find the list for 2010-11 on their website. Below are some of the common events…

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Live Tax Consultants

Online Consultations - your accountant is as close as your computer In a busy world you need to find smarter ways of working to get your important jobs done. Many people are time poor and there are jobs that never seem to get to the top of their to-do list.…

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Australian tax for non-residents

If you have come to Australia to work, or if you have investments in Australia, you need to understand the tax and financial issues that relate to you. Whether you are: working in Australia on a short term assignment with an overseas employer permanently migrating to Australia on a temporary…

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Budget 2011 – Individuals & Families

Key budget changes 2011 By Jarrod Rogers CPA, May 2011 Superannuation Super contributions limits for over 50s The government has confirmed that a higher concessional contributions cap will apply to people over 50. Currently the concessional contributions cap is $25,000, but for people over 50 the limit is $50,000. This…

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Budget 2011 – SMSF

Key changes for SMSFs Reduction of 25% in the minimum pension payment amounts for 2011-12 The Government will phase out the pension drawdown relief that has been provided over the last three years. Minimum payment amounts for account-based, allocated and market linked (term allocated) pensions have been reduced by 50%…

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