admin – Accounting Edge

Tax Commissioner’s Annual Report Released

admin — Mon, 20 Nov 2017 14:52:33 +0000

The Commissioner of Taxation Annual Report 2013-14 has been released. For the year: $163.6bn net was collected from individuals; $67.3bn net was collected from companies; $51.4bn in net GST was collected; refunds totalled $97.5bn; an estimated $11.2bn in cash was collected from compliance activities; there were 16.5m tax return lodgements. Interestingly, the report said there were 2.7m small businesses, 750,000 trusts, 12.3m individuals, 846,500 employers, 534,000 SMSFs and 1,250 large domestic and international businesses.

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Tax Returns made easy on the Gold Coast

admin — Mon, 20 Nov 2017 13:52:49 +0000

Now is the time to make sure your 2017 Tax Return is submitted in time for a Pre-Christmas Tax Refund. Our Team based at Ashmore Road, Bundall are experts at getting you the best tax refund and fast turnaround. Phone 07 55701349 to make an appointment or contact us by email.

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National Accounting Congress

admin — Tue, 12 Nov 2013 21:44:08 +0000

Attended the 3 day Institute of Public Accountants National Congress with almost 400 accountants from all over Australia and attended 14 different education sessions on Tax, Super, Small Business & Economic Trend Updates. Essential to keep the technical skills up to date in this ever changing world of tax and accounting!

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Tax Time Specials

admin — Wed, 07 Aug 2013 21:44:10 +0000

It’s that time of the year again!! Here at Accounting Edge we love tax time and we look forward to seeing all our loyal clients once again, and welcoming lots of new clients to our fresh new premises at 44 Ashmore Road, Bundall. We work hard to get the best tax refund we possibly can for all our clients and offer a year round tax advice service at no extra charge. As usual, we are keeping our rates low ……..

Students, Pensioners and Under 21’s	$ 80.00
Standard Salary & Wage Returns	$ 140.00
Sole Traders from	$ 210.00
Rental Properties from	$ 280.00
Companies & Trusts from	$ 660.00
Superfund Tax & Compliance from	$ 990.00

Phone Louise or Sanela for an appointment on 07 5570 1349. Or if you’re too busy to come and see us, no problem, we can do most returns by corresponding via email, contact us on admin@accountingedge.com.au to get started.

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When lodgements get behind—we can help get up to date quickly and easily

admin — Fri, 07 Jun 2013 21:44:11 +0000

Do you know someone who has fallen behind? Perhaps lost important documents? Don’t have time to get all the information organised? Scared how much tax they will have to pay? Please encourage them to come and see us, it is amazing how simple we can make the whole process and what a weight it is off their shoulders once their affairs are up to date! It doesn’t matter how many years behind they are. We know how to access information and put the pieces of the puzzle together.
ATO penalties for late lodgements have increased from $110 to $170 per month up to a maximum of $850. These penalties relate to both late tax returns and also BAS and IAS reports. These failure to lodge on time penalties are not tax deductible and can be a serious consequence for individuals or business’s who fall behind. Remember even if you think you can’t pay a Tax or GST amount, still have the documents lodged on time to avoid the penalties and then organise a suitable payment arrangement with the ATO to pay the debt off over time.
Did you know the ATO now accepts payment by credit card for Tax and BAS payments for added convenience (of course charges apply).

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Tax Return Time

admin — Wed, 04 Jul 2012 21:44:13 +0000

Get your tax refund claim in early – Tax Returns start from just $140 for Individual Salary/Wage Returns

Call for an appointment 5570 1349

Fast & Efficient processing
Same day lodgement
Rental properties
Sole traders
Business returns; Partnerships; Companies & Trusts
BAS Bookkeeping (MYOB data entry)
Self Managed Super Funds

Get your refund processed straight into your bank account within 14 days in most cases…

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SUPERANNUATION END OF YEAR ACTION !

admin — Fri, 22 Jun 2012 21:44:14 +0000

Remember to pay all Superannuation for both staff and yourself, prior to 30 June to obtain the full tax deduction in this financial year.

The SGC will increase from 9% to 12% gradually over the next 7 years, the first increase will be 9.25% from 1 July 2013.

If you are eligible for the government co-contribution, make the $1000 voluntary contribution while it is still $1 for $1. It drops to 50c per $1 for the 2013 year.

The proposed higher concessional contributions cap for those aged 50 and over with super balances below $500,000 has been deferred. Accordingly, all taxpayers, regardless of age, will be subject to a concessional contributions cap of $25,000 for the 2012-13 and 2013-14 income years. Therefore if you are over 50 and wanting to boost your superannuation balance, you can still contribute up to $50,000 with full deductibility in this financial year.

Contact Louise Raunik on 07 5539 5418 for more information.

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National Business Names Register

admin — Mon, 28 May 2012 21:44:16 +0000

A new National Business Names Register commenced 28 May 2012. This Australia wide registry replaces the various state registers and will be administered by The Australian Securities and Investments Commission (ASIC). All our local business clients who currently have their trading name registered through the Office of Fair Trading, will be automatically transferred across to the new national register. The Queensland register will cease operation from 5pm Friday 25 May 2012. All details including existing expiry dates will transition across to the new system and future renewal notices will be issued by ASIC. Once the transition to the national register is complete, fees for Queensland business will be cheaper, as an example three year renewal will be $70. Please contact our office on 07 55395 418 if you need any further information or you would like assistance with registering a business name.

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New reporting system for building and construction industry members

admin — Fri, 20 Apr 2012 21:44:17 +0000

From 1 July 2012, businesses in the building and construction industry need to report to the ATO each year, the total payments they make to each contractor for building and construction services.

Building and construction services, as well as the obvious, include a wide range of related activities including demolition, design and repair if they are performed on, or in relation to, any part of a building, structure, works, surface or sub-surface . You are not required to report on payments where the invoices are for materials only, such as building supplies and materials. Likewise, you do not report on payments made to employees and those engaged under a voluntary agreement to withhold, or under a labour hire agreement.

The first annual report is due 21 July 2013 for payments made in the 2012-13 financial year. In this first year businesses that lodge their business activity statements quarterly, may lodge by 28 July 2013.

The information reported about payments made to contractors will be used for ATO data matching to detect contractors who have not lodged tax returns and/or included all their income in returns that have been lodged. It is no surprise that the aim of the system is to improve compliance with tax obligations by those contractors who are currently not doing the right thing.

For more information refer to the ATO website link below or contact our office for assistance.

http://www.ato.gov.au/businesses/content.aspx?doc=/content/00313486.htm&alias=taxablepaymentsreporting

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