Price Roberts + Co

2017 Superannuation Changes

Price Roberts + Co — Fri, 21 Jul 2017 14:19:39 +0000

The main superannuation changes from 1 July 2017 are: From 1 July 2017 rental property owners will be unable to claim a tax deduction for travel expenses related to their rental property. Unfortunately this includes all travel costs eg. to inspect the property  A reduction in the concessional contribution limit to $25,000; Greater flexibility […]

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2017 Federal Budget Tax Issues

Price Roberts + Co — Fri, 21 Jul 2017 13:58:05 +0000

Rental property travel expenses no longer tax deductible From 1 July 2017 rental property owners will be unable to claim a tax deduction for travel expenses related to their rental property. Unfortunately this includes all travel costs eg. to inspect the property, collect rent, perform repairs, collect replacement items or meet with a property manager/tenant. […]

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2017 Tax Planning

Price Roberts + Co — Fri, 21 Jul 2017 13:41:17 +0000

General concepts of tax planning involve: Delaying the derivation of income – you might not deposit income if on a cash basis, or delay invoicing customers until 1 July if on an accruals basis, of recognising the derivation of income; Bringing forward deductible expenses or losses – consider buying items a little earlier than needed […]

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Year-end Tax Planning 2016

Price Roberts + Co — Fri, 01 Jul 2016 12:24:17 +0000

A taxpayer might consider: Deferring income into a latre tax year; Whether a lump-sum receipt is really income for services to be provided in a following year; Bringing forward deductible expenses or losses; Minimum pension amounts required to be paid to a member of a super fund who is in pension phase; Tax deductible gifts/donations […]

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June 2015 Tax Planner

Gavin Roberts — Tue, 07 Jul 2015 11:08:55 +0000

Principles of Tax Planning Tax planning may involve using an efficient trading/investing structure, deferral of income, bringing forward deductions, maximising deductions and using all available tax offsets (rebates). There may also be trade-offs between saving some tax and locking money away (eg. in super) and stretching cash flow (eg. making prepayments). Importantly a tax deduction […]

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Small Business Start Up Pack

Gavin Roberts — Wed, 13 Feb 2013 00:50:44 +0000

We’ve put together a business start up pack. You can either download as a bundle or read it below. BUSINESS STRUCTURES Once you’ve taken the plunge to start your own business one of the daunting tasks you may face is selecting the appropriate vehicle to trade through. Even if you may have been in business […]

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Reduce the risk of investment fraud

Michael Price — Wed, 23 Jan 2013 06:25:42 +0000

Unfortunately some people try to gain financial advantages from others good nature and may inappropriately seek other’s financial information. Other than having a healthy sense of skepticism we suggest if something is too good to be true then it probably is just that. Two basic methods of reducing your risk of financial or investment fraud […]

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Tax Certainty for Deceased Estates

Gavin Roberts — Wed, 23 Jan 2013 06:23:56 +0000

The government will amend the law to allow the tax exemption for earnings on assets supporting superannuation pensions to continue following the death of a fund member in the pension phase until the deceased member’s benefits have been paid out of the fund. This change will have effect from 1 July 2012. The super law […]

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ATO Focus on Lodgement Dates

Michael Price — Wed, 23 Jan 2013 06:22:31 +0000

The Tax Office, likely through a desire to increase government cash flow, is putting greater pressure on Tax Agents to lodge client returns by their due dates. If a tax agent does not lodge at least 85% of their client’s returns by the 15th of May the following year, they will be required to lodge […]

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ATO Compliance Activities

Gavin Roberts — Wed, 23 Jan 2013 06:18:09 +0000

The ATO has highlighted a number of areas that it will focus on in its compliance activities this year. This includes: • incorrect claims for work-related expenses. In particular, the ATO says it will focus on claims made by plumbers, IT managers and defence force personnel. Taxpayers must keep written records for all their work-related […]

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