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Changes To The Super Guarantee And Upper Age Limit

From 1 July 2013 the super guarantee increases to 9.25% and the upper age limit has been removed. This means employers may need to make super guarantee payments for eligible employees aged 70 years and over. If you are an employer, you will need to ensure that your payroll and accounting system applies the appropriate

Cloud Computing For Small Business

Cloud computing can boost your productivity, but make sure you know what you’re signing up for. Chances are your email, latest accounting software or job ordering system is based in the ‘cloud’. It lets you do things previously only dreamed of by large companies with dedicated IT services. All the maintenance, development and backups are

New Order With Banks

Since the Global Financial Crisis there is strong evidence to suggest the relationship between small to medium sized enterprises and banks has changed. Banks are now tougher to deal with – they are managing their risk profile more stringently. There is an increased use of covenants. Covenants set performance criteria for a business and can

Land Tax – Check Your Assessments

The State Revenue Office is currently issuing Land Tax assessments. Owners of land should ensure these assessments are correct as experience has shown the assessments regularly contain errors and excessive land tax may be levied. Land owners are encouraged to: Carefully check the land tax assessment. Ensure the correct names are listed as land owners.

What a Tax Accountant Can Do For You

You may be on the brink of lodging your income tax return and wondering, am I missing anything? Chances are that if you are doing your own taxes, you probably have missed something. Having a Tax Accountant do your taxes may be something you have never considered, but understanding what they do may make hiring

All You Need to Know About Accountants

What does it take to be a great accountant? Accounting as a profession is a highly analytical role which requires meticulous attention to detail. A passion for numbers and a core understanding of their practical application is also vital. Moreover, all great accountants will recognise and understand the fundamental accounting principles. This will not only

Simplified Depreciation

The new rules relating to simplified depreciation have been effective from 1 July 2012 and provide significant advantages to small business enterprise taxpayers who are defined as carrying on a business and have an annual net turnover of less than $2 million. These rules do not apply to rental property assets, low value pool and

Business Travel And ‘Otherwise Deductible Rule’

When an employer provides accommodation to an employee while they are away on business the benefit would be fully exempt from Fringe Benefits Tax (FBT) under the ‘Otherwise Deductible Rule’. Recently the ATO confirmed that when an employee’s spouse has accompanied an employee it is still exempt under the Otherwise Dedictable Rule provided no extra

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