Bottrell Accountants, Financial Planners & Tax Agents

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

The Benefits of Creating a Financial Plan for Your Business

Financial planning is an essential aspect of managing a successful business. It provides a roadmap for achieving financial goals, managing resources effectively, and ensuring long-term sustainability. By creating a well-structured financial plan, businesses can effectively navigate through various economic scenarios and make informed decisions that contribute to their overall success. This article will explore into […]

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 […]

Tax help for people affected by recent bushfires

Tax help for people affected by recent bushfires Tax help for people affected by recent bushfires The ATO have advised that for people affected by the recent Victorian and Western Australian refunds will be fast-tracked and they will receive additional time to lodge income tax returns and activity statements. Victoria For people within Wye River and Separation Creek, [...]

Check Out The ATO’s apps plus other online tools

Check Out The ATO’s apps plus other online tools As a result of user feedback, the ATO has improved their ATO Small Business app and it continues to expand in functionality and usability. Check Out The ATO’s apps plus other online tools by visiting the ATO website. The most useful features for small business include: ¨      […]

Tax support service for drought affected communities

Tax support service for drought affected communities The government has announced a new service to help drought affected communities manage their tax affairs when times are tough, and has set up a dedicated hotline on 13 11 42. The ATO will work with the Department of Agriculture to identify drought-affected taxpayers, and will provide personalised […]

Glenn Stevens Below-trend growth shapes as the new trend without reform

Glenn Stevens Below-trend growth shapes as the new trend without reform Adrian Blundell-Wignall’s Anika Foundation lunch in July has become one of the more interesting whistle-stops for Reserve Bank governor Glenn Stevens. The Anika speeches are always anticipated by the markets, because they precede the August meeting of the central bank, one of the “live” meetings that […]

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 […]

Tax Time 2013

The following summarises some of the key messages from the ATO’s meeting with the professional associations at the ATO Tax Practitioner Forum (ATPF) on 26 June 2013. Client lists and new clients: The ATO recommends that agents undertake regular reviews of their client lists to add any new clients for the year and to remove […]

What does tax look like under a Coalition government

Now that the Abbott government is settling in, it is worthwhile to look at their promises and the commitments that they made in the run-up to the election. Here’s a rundown on some of the more important commitments, although many don’t have effective dates: Editor: Please note the first two were vehemently opposed by the […]

Targeting tax crime: an international approach

Targeting tax crime: an international approach It’s a small world after all following unprecedented cooperation between international tax authorities, ATO Deputy Commissioner of Serious Non-Compliance, Greg Williams, said that it’s now harder than ever to get away with hiding money offshore: “Given the likelihood of detection and the significant negative personal consequences of involvement, if […]

Enhanced third party reporting, pre-filling and data matching

Enhanced third party reporting, pre-filling and data matching The 2013/14 Budget contained a measure called “Tax compliance – improving compliance through third party reporting and data matching”. Basically, this measure consists of a number of different elements to improve and increase the information reported to, and gathered by, the ATO. The proposed reporting regimes are […]

Review of unlegislated tax measures completed

Review of unlegislated tax measures completed The Assistant Treasurer has announced the outcome of consultations over the backlog of 92 announced but unlegislated tax and superannuation measures. The government previously announced that 18 of those measures would proceed, 3 would be amended and 7 would not go ahead. Of the remaining 64 measures that were […]

Commissioner of Taxation v Qantas Airways Limited

Commissioner of Taxation v Qantas Airways Limited Qantas (and its subsidiaries, including Jetstar) provide domestic airline travel services. There are different classes of air travel with varying fare rules and conditions of carriage. Some prospective passengers who had booked a flight and made payment failed to take a flight. In accordance with the applicable conditions […]

Personal Tax Tips  

Personal Tax Tips 2015 With the end of the financial year rapidly approaching, now is certainly a great time to take steps to maximise your personal tax return and put yourself in the best position for the next financial year. Here are some tax tips to maximise your personal tax refund for 2015/2016. Prepay income [...]

Australian Resident Taxation Matters

Australian Resident Taxation Matters It is important to know if you are an Australian resident you need to pay income tax. This is especially important for people who have recently moved here or have been here for 6 months or more of the tax year. To help people in this position, a guide has been […]