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Have we done your tax work?
Who can believe that it is February already? The business calendar of an accounting practice can’t help but be geared around ATO deadlines, and the realisation that it is mid-February brings with it the realisation that there are just 3 months until the final income …
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2015 has begun
My how time flies when you are having fun!! 2015 has begun, Australia are the football champions of Asia and the school holidays were a wonderful chance to enjoy some family time and an opportunity to enjoy looking at life through the eyes of others …
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Time limits for family assistance payments
If you want to claim family assistance payments for the 2014 financial year, you must lodge your 2014 income tax return (or advise Centrelink that you do not need to lodge a 2014 return) by 30 June 2015.
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Six-monthly indexation alert for Fuel Tax Credits
Fuel tax credit rates increased for fuels acquired from 2 February 2015 due to an increase in CPI. Rates are indexed twice a year – generally on 1 February and 1 August. Check the rates at fuel tax credit rates and eligible fuels before you complete your BAS. You …
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RBA cuts interest rates
The RBA has moved to reduce the cash rate by 25 basis points to 2.25%.
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ATO increasing its use of data
The ATO is increasingly using data analytics to identify anomalies in GST reporting by businesses. If you are in business, now is a good time to review your accounts payable and accounts receivable processes to ensure GST is being captured correctly in your accounting system.
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Changes to Employee Share Schemes
Following on from our news post on 20 October last year, the Small Business Minister has recently announced that the Government will scrap many of the 2009 changes to the taxation of Employee Share Schemes, effective 1 July 2015 as follows: All Companies: The Government …
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Government announces “Single Touch Payroll”
The Government has announced that it will cut red tape for employers by simplifying tax and superannuation reporting obligations through Single Touch Payroll. Under Single Touch Payroll, employers’ accounting software will automatically report payroll information to the Australian Taxation Office (ATO) when employees are paid. …
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Fuel Tax Credit rates have increased
Fuel tax credit rates increased for fuels acquired from 10 November 2014. Rates will be indexed from 1 February and 1 August each year in line with the consumer price index. If you have already lodged a BAS for fuel acquired after 10 November 2014, …
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Know a business that just needs a “boost”?
On the back of our new Business Advisory practice, Isaacs & Cole is giving every one of our clients the opportunity to “give a boost” to businesses they care about this December. It may be your own business, a friend’s, a family member’s…..any business at …
