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Tax Accountants: Sydney Business and Individual Services
When you need professional services for accounting, bookkeeping, and other financial needs, you’ll want access to the leading tax accountants. Sydney companies and individuals can find various services at 123 Books to address many financial and Tax Office needs. Whether you require assistance with late tax returns or you’d like ongoing service for payroll needs, the 123 Books team of tax accountants Sydney can help. Find out more about the many services and solutions you’ll find with these professionals providers of accounting and bookkeeping services.
123 Books offers an array of services. When in need of tax accountants, Sydney businesses and individuals can find help with: ... Read More |
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Eliminate Tax Office Worry With Professional Accounting Services Sydney
Trouble with Tax Office fines, overdue tax returns, and other Tax Office worry can be stressful. If you find yourself faced with overdue or late returns, you’ll need expert help that can eliminate the stress. Finding the best accounting services Sydney will make it easy to get the help you need when you need it most. Don’t face Tax Office worry alone; find assistance with any of your tax issues. The overwhelming worry of dealing with Australian Tax Office troubles can take its toll. Find support and assistance every step of the way at 123 Books.
123 Books can help with Tax Office worry, including: ... Read More |
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Welcome to 123 Bookkeepers and Accounting. As part of our ongoing support to our clients and those of you following us at 123Books.com.au we will be presenting a series of articles to assist you with your tax preparations.
We understand that keeping up to date with your records and payments can be very stressful but in doing so you will remove that anxiety and may well make large savings. At 123Books we have helped many customers realise large returns they simply didn't know existed. Not to mention reductions or cancelations of any penalties from the ATO.
Following is our top 5 list of Australian tax tips for Resident and Non-Residents as well as an update of whats new from ASIC... Read More |
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| If you own a business, and there are business assets you’re thinking of investing in, you can take advantage of the extra tax deduction available through the business tax break. This is also known as the ‘investment allowance’.
Time is running out though – you need to buy the asset, or at least enter into a contract to buy it, on or before 31 December 2009.
The amount of the deduction depends on your annual turnover:
If your business has an annual turnover of less than $2 million, you can claim an extra tax deduction of 50% for eligible assets costing $1,000 or more.
If your business turns over $2 million or more, you can still claim an extra 10% tax deduction for eligible assets costing $10,000 or more.
Regardless of your turnover, you have to use the asset principally in Australia and principally for business, and you need to use it (or install it ready for use) by 31 December 2010...
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It pays to understand
Our fact sheet, Fringe benefits tax and Christmas parties, helps you understand the FBT implications when you hold Christmas parties or give presents to your staff. It explains how, in most cases, the ;’minor benefits’ exemption means you will not be subject to FBT when, as an employer, you spend less than $300 per employee on a Christmas party – provided you meet certain conditions.... Read more |
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Tax planning is not always about making investments, prepaying interest or clearing the accounts before year end.
Often tax planning is about having your investments and assets in the right structure.
The right structure might be having a Self Managed Superannuation Fund, a Company Partnership, Family Trust, Discretionary Trust or acting as Sole Trader.
If you would like to discuss business structures prior to June 30 give us a call. Read more... |
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For 2009-10:
- The luxury car tax (LCT) threshold is $57,180.
- The fuel-efficient luxury car limit is $75,000.
A 33% luxury car tax (LCT) applies to most cars over these thresholds.
If you buy a car priced over $57,180, the maximum GST credit you can claim is 45,198.
For more information refer to:
- LCTD 2009/1 Luxury car tax: what is the luxury car tax threshold and fuel efficient car limit for the 2009-2010 financial year?
- Luxury car tax (NST 3394).
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The Budget at a glance
The Budget contained significant tightening of tax and personal benefits for middle and higher income earners, including the private health care rebate, but few specific measures to bring the Budget back into surplus. It will take two years of above average real growth to return the Budget to surplus, which may be considered optimistic.
Nonetheless, Treasurer Wayne Swan forecast the Budget will return to a surplus by 2015-16, largely due to automatic revenue increases as the economy recovers.
He forecast a $57.6 billion deficit for 2009-10 and $187.4 billion over the forward estimates.
A major boost to infrastructure spending was a major focus of the Rudd Government’s second Budget delivered by the Treasurer last night.
The $22 billion infrastructure spend includes major port, road and railway projects in most states, a $4.7 billion commitment towards the $43 billion National Broadband Network and major clean energy projects.
Major Budget items included:
- A single-aged pension increase of $32.49 a week for singles and $10.14 for couples
- A paid parental leave scheme of 18 weeks at $544 a week
- First home owners grant boost to be extended for another six months
- Private health insurance rebate to be means tested for singles earning over $75,000 and couples earning over $150,000
- Family tax benefits to be frozen at current levels for three years
- $2.7 billion for higher education, research and innovation
- Savings of $22.6 billion over four years
- Honoring promised tax cuts.
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| Welcome to the 123 Bookkeepers and Accounting Tax Tips covering Income, Deductions, Education, Family, Business Tax Tips, and Frequently Asked Questions.
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| The GST has now been in effect since 1 July 2000, yet despite a massive Australian Taxation Office (ATO) education campaign there are still many errors and omissions being made by small businesses on their GST returns. Most of these errors relate to the over-claiming of GST credits... Read GST Mistakes |
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