Bottrell Accountants, Financial Planners & Tax Agents

East Maitland Accountants & Financial Advisors, Newcastle Accountants & Financial Advisors

Backpacker tax

Backpacker tax Government to re-think the backpacker tax Backpacker tax Review of tax arrangements for Working Holiday Maker visa program Deputy Prime Minister, Barnaby Joyce, and Assistant Agriculture and Water Resources Minister, Senator Anne Ruston, have welcomed a review into taxation arrangements for the Working Holiday Maker visa program. The review’s scope will cover taxation […]

Government scraps anti-detriment payments

Government scraps anti-detriment payments SMSF practitioners may need to reassess any anti-detriment payment strategies in place for clients with the government looking to remove the tax refund as part of its tax reform plans, says the SMSF Association. Speaking to SMSF Adviser, federal member for Deakin Michael Sukkar said he was calling for the anti-detriment […]

Three more tax changes for small business

Three more tax changes for small business The government has introduced legislation for the following three small business measures that, if passed, will apply from 1 July 2015: A tax offset to individuals who run small businesses (with an aggregate annual turnover of less than $2 million), or who have a share of a small […]

The maximum annual government contribution- First Home Saver Accounts

The maximum annual government contribution The maximum annual government contribution is based on the contribution threshold that is indexed periodically in $500 increments. Income year Contribution threshold Maximum government contribution 2013-14 $6,000 $1,020 2012-13 $6,000 $1,020 2011-12 $5,500 $935 2010-11 $5,500 $935 2009-10 $5,000 $850 2008-09 $5,000 $850 Changes to first home saver accounts The […]

Change in commercial law course requirement

Change in commercial law course requirement The government’s recent changes to the Tax Agent Services Regulations 2009 (TASR) mean that some tax agents will not need to complete a Board approved course in commercial law. The law has been changed so that tax agents, and former nominees of agents, who were previously registered by a State […]

New prime minister

New prime minister As we’re sure you all know by now, Kevin Rudd is the Prime Minister . . . again . . . but this has also resulted in a change in various Ministerial positions of relevance to the Tax World, including Chris Bowen becoming the new Treasurer (after Wayne Swan stepped down) and […]

Small business super clearing house reform

Small business super clearing house reform The Government has announced that the ATO will take over the running of the Small Business Superannuation Clearing House. Editor: The Small Business Superannuation Clearing House is a free online service that helps small businesses with 19 or fewer employees meet their superannuation guarantee obligations by allowing employers to […]

October Tax Forum Update

October Tax Forum Update The Government has released a discussion paper in the lead-up to the Tax Forum on 4 and 5 October to inform public debate on priorities and directions for continuing tax reform. The Tax Forum is intended to help the Government build on their other tax reforms, and help identify further reforms […]

Government committed to increasing super guarantee

Government committed to increasing super guarantee At a recent speech commemorating the twentieth anniversary of the introduction of the superannuation guarantee regime, the Assistant Treasurer and Minister for Superannuation reaffirmed the Government’s commitment to increasing the minimum superannuation guarantee percentage from 9% to 12%. Although it has yet to be legislated, the plan is to […]

Superannuation Co Contributions

Superannuation Co Contributions In recent years, the government has been decreasing the superannuation co contributions for low income earners. Based on the individuals taxable income, each financial year, the co contribution that the government will contribute to a complying superannuaiton fund will decrease. There is a maximum of $500 per financial year.   Interested in […]