Annual reporting to the ATO of contractor payments

Sep 4, 2018

The taxable payments reporting system (TPRS) requires businesses to report to the ATO all payments made to contractors during an income year. This additional reporting is in the form of an annual report that is used by the ATO to cross check that contracting income is being correctly declared by contractors. The annual report is... View Article Read More

Drought Assistance Information

Aug 10, 2018

Farmers are facing some of the worst drought conditions ever experienced, with the Government confirming 100 per cent of NSW is in a drought and over 60 per cent of Queensland is in drought or is drought-affected. The conditions have seen costs of stock feed and transport soaring. Sydney-based market analyst Nick Crundall said Australia... View Article Read More

Protecting you and your family

Jul 19, 2018

Insuring your car, home or other possessions makes sense. So why do so few of us insure ourselves? If illness or injury stopped you from working for an extended period, could you keep paying your bills? Personal risk insurance gives you peace of mind that if the unexpected occurs, you and your family will be... View Article Read More

Downsizer Contributions

Jun 14, 2018

From 1 July 2018 the new ‘downsizing’ into superannuation rule will be able to be used. For those that meet the criteria, this could be used to top up your super and assist with your retirement plans.  This ‘downsizer’ rule allows those that are over 65 and sell their main residence to contribute $300,000 of... View Article Read More

Budget 2018-19 Overview

May 9, 2018

It’s that time of the year again! The 2018-19 Budget was announced yesterday and there are plenty of changes and updates to be aware of. Click on the link to get the overview from our Financial Planning team Budget 2018-19 Overview Read More

ATO shifts the responsibility for paying GST from developers to purchasers

May 1, 2018

The ATO will soon be outsourcing the collection of GST on new residential property sales and home site sales to innocent purchasers in an attempt to thwart cowboy developers who do not meet their GST obligations. Parliament has recently passed legislation that changes the way GST is paid and accounted for in transactions involving new... View Article Read More

Company tax rates: difficulties with the current state of play

Feb 15, 2018

The rules for determining which tax rate applies to company taxpayers have changed significantly over the past two years and are still undergoing change. The current rules provide that the lower tax rate of 27.5% applies to a company carrying on a business with turnover (combined with certain connected entities) less than a particular threshold,... View Article Read More

Teaching your kids the value of money

Feb 9, 2018

In an increasingly digital world, the value of money can be a difficult concept for children to grasp. Here are some tips for helping your kids and grandkids become wealthy and wise. Standing next to mum or dad at the corner shop and watching them count out notes and coins to pay for the bread... View Article Read More

How would your life be affected if you had no income?

Feb 9, 2018

The idea of insuring against loss of income is one that has clear value. But many neglect to insure their most valuable asset. Income protection could be the answer – so how does it work? We happily insure our homes, our vehicles, even our smartphones. But have you considered how your family’s lifestyle would be... View Article Read More

New stamp duty exemption on business insurance for eligible small business entities in NSW

Feb 9, 2018

From 1 January 2018 eligible small business entities are exempt from stamp duty on certain types of insurances in NSW. The exemption applies to the following types of business insurance: commercial vehicle insurance; commercial aviation insurance; occupational indemnity insurance; and product and public liability insurance. To obtain the benefit of this exemption, business entities will... View Article Read More