OUR BLOG

Business Start up

Business Start up  Are you a Business Start up  in the Newcastle Area? Have you been into the Hunter Street Mall lately? There recently has been a large number of small business start-ups opening. If you are looking to start your own business, please contact the team on 02 49336888.   Interested in joining our […]

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Changes to Small Business Depreciation

Changes to Small Business Depreciation As part of its 2013 election commitments the Abbott Government announced the following changes (effective from 1 January 2014); – The instant asset write off threshold has reduced from $6,500 to $1,000 for assets acquired and installed ready for use after 31 December 2013. – Assets costing $1,000 or more […]

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Superannuation Guarantee Requirements

Superannuation Guarantee Requirements   – Superannuation contributions are required to be paid for employees who 1. Are over 18 years of age and earn more than $450 in any given calendar month 2. Are under 18 years of age and work more than 30 hours a week   – Superannuation is calculated as a minimum […]

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When does Luxury Car Tax apply?

When does Luxury Car Tax apply? Luxury Car Tax is payable on a vehicle when: The vehicle is purchased from a dealership. The vehicle is less than two years old, (as measured from the build date for locally built cars, or the compliance date for imported cars). The vehicle’s price (including GST, excluding government charges […]

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What constitutes Ordinary Times Earnings for Superannuation

What constitutes Ordinary Times Earnings for Superannuation   Payments to an employee in relation to … Salary or wages? OTE? Awards and agreements Overtime hours – award stipulates ordinary hours to be worked and employee works additional hours for which they are paid overtime rates Yes No Overtime hours – agreement prevailing over award Yes […]

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How is Luxury Car tax calculated?

How is Luxury Car tax calculated? The amount of Luxury Car Tax payable on the purchase of a car is dependent on the amount that the car’s price exceeds the Luxury Car Tax threshold ($75,375 for fuel efficient cars or $60,316 for other cars). Generally, the LCT payable on a car is 33% of the […]

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Payroll Tax

Payroll Tax Payroll tax is a state tax on the wages you pay to employees. It’s calculated on the amount of wages you pay per month. You need to pay payroll tax if your total Australian wages exceed the exemption threshold in your relevant state or territory – which varies between states and territories.   […]

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NSW Payroll Tax

NSW Payroll Tax Payroll tax is applied to a business’s New South Wales (NSW) wages that exceed the payroll tax threshold. The payroll tax rate is 5.45%. The payroll tax threshold for 2013 – 2014 (July – June) is $750,000. The monthly threshold amounts are: Days in the month Threshold 28 days $57,534 30 days […]

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Work-related car expenses

4 Methods of claiming work-related car expenses are as below:   Method 1 – Cents per kilometre method   If you use this method:   you do not need written evidence but you may need to be able to show how you worked out your business kilometres (for example, by producing diary records of work-related […]

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ATO Claims

ATO Claims Claims of $300 or less ATO Claims Tax payers do not need written evidence but the ATO may ask how the claim was worked out and explain why the claim is reasonable, based on the requirements of the tax payer’s occupation. People can make reasonable estimates.   Specific exclusions from record-keeping or substantiation […]

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PAYG VARIATIONS

PAYG VARIATIONS If you are employed, your employer is required to withhold tax during the year to cover your estimated tax liability from your income- this is called your PAYG withheld amounts   But those who have a negatively geared property will have less taxable income than their employer estimated, which of course you get […]

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Car Expenses

Car Expenses You can claim a deduction for expenses that you incur in using your car for work. However, ordinary travel to and from work is not a work-related car expense. This is so even if: you have to travel between home and work more than once a day, or you are required to travel […]

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Why hire mature aged workers

Why hire mature aged workers There are many benefits. They bring varied and very important skills and experience to the workplace. As they’re often the staff with the most experience, keeping them for as long as possible means that your business will continue to benefit from their skills and knowledge. Employing mature age workers makes […]

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What can we help you with

What can we help you with At Bottrell Business Consutlants we can help you with the following areas:- Dealing with a negative coworker How to improve strategic planning: Vision Statement, Mission Statement, Values When management systems fail: Why employees don’t do what we want them to do How do we know when its time for […]

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Hunter Region

Hunter Region Hunter Region Regional Economic Outlook – According to the Hunter Valley Research Foundation the Regional Economic indicators are pointing to a cautiously optimistic outlook as the Hunter makes a less difficult transition from the resources investment cycle than was expected, according to the Hunter Valley Research Foundation’s (HVRF) latest Hunter Region Economic Indicators. […]

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