2014 TAX RETURNS DUE SOON!

If you have not yet lodged your tax return for 2014 it will be due within
the next 4 weeks before the ATO considers it late and possible penalties imposed.

Penalties are imposed at $170 for every 28 days overdue, capped at $850.
There are exceptions – If you are assessed and expecting a refund no penalty will apply.

* Note that your tax return for 2014 may already be considered overdue if you have prior tax returns outstanding.

CALL US NOW TO BOOK IN A TIME – 1300 124 124

  Further information

  What if you don’t lodge?

April Newsletter Released

Articles in this months newsletter:

• ATO Cracks Down on Online Sellers
• Income Tax Implications of Property Lease Incentives
• Single Touch Payroll Initiatives
• Tax on Tips and Gratuities
• Marriage Breakdown & SMSF’s
• Lost Super

Please contact us or click on the link below if you would like a copy of our newsletter which will be emailed to you monthly.

Easter Break

We will be closed for Good Friday and also Easter Monday and will be
back on Tuesday.

Eat lots of chocolate and be merry (and make sure the kids get hypo)!
Don’t let that bunny get away!!

Enjoy your mini-break!

TIP: If the bunny is travelling between jobs the fuel may be claimed as a tax deduction.

Disclaimer: We don’t condone this type of behaviour…only recommended for professional stunt rabbit racers.

INCOME TAX EMAIL SCAMS

I received an interesting email from Mr Hinkle from the ATO last week stating I had a refund of over $4,000 for my 2014 tax return!

That’s funny…. I had already lodged my tax return for 2014 last year!

Scamsters or Scumsters (I like to call them) will try and make their emails authentic by using an email address that copies information of government departments.

MR HINKLE DOES NOT = $4,142.75 REFUND
MR HINKLE = DELETE

RECOMMENDATIONS:

– Remember that the Australian Taxation Office never sends email correspondence.
– Never respond via email.
– Please delete these immedicately as opening them could unleash a virus onto your computer.
– Report any income tax email scams to the ATO.
 
Read more from the ATO and what to watch for.

Refunds/Phishing scams
 
 

March Newsletter Released

Articles in this months newsletter:

• Fringe Benefits Tax – Your Business Basics
• Self-education Expense Deductions
• SuperStream Guide
• Capital Gains Tax explained
• Proposed changes to Employee Share Schemes

Please contact us via email if you would like a copy of our newsletter which will be emailed to you monthly.

Family Assistance Entitlements

June 30th 2015 Deadline

Make sure that if you are entitled to receive family assistance payments for the 2014 financial year, you will need to lodge a claim by 30th June 2015.
Your 2014 tax return will also need to be lodged by this date or your payments may be cut off even if 1 day overdue!

Even if you do not need to lodge a tax return for tax purposes Centrelink must still be notified by 30th June 2015.

  Further information

  Time Limits for family assistance payments 

February Newsletter Released

Articles in this months newsletter:

• Dealing with Natural Disasters
• SMSF Property – Tips & Traps
• ‘Debt Forgiveness’ – Tax Implications
• Income Averaging – Who is Eligible, How it Works
• Reconstitution of Partnerships
• Employee or Contractor – Common Myths

Please contact us if you would like a copy of our newsletter and are a current client with us.