Your Knowledge News – June 2019

In this edition, we look at Tax Time and if you are in the ATO’s sights. We discuss Payroll live reporting through Single Touch Payroll, work related deductions, record keeping and working from home.

Other tax topics discussed are :Cryptocurrency, Rental property deductions for shared properties and earning money from the sharing economy (AirBNB, etc).

We also discuss tax issues related to your Superannuation, your Business and your Trusts.

There is included an article on how to prepare for a Tax Office visit.

We hope you find this edition of Your Knowledge informative, and invite you to contact your CMS Advisor to discuss any of the content and how it may have an impact on you.

Budget 2019

This year’s federal budget has a few sweeteners, which was to be expected with the next federal election only about a month away and the Coalition Government trying to make up ground in the polls. The welcome news is the forecast return to surplus for the 2019-20 fiscal year.

Also note that proposed changes to Division 7A will be deferred from 1 July 2019 to 1 July 2020, and that there are some useful changes to superannuation that will benefit older pre-retirees.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

Your Knowledge News – March 2019

In this edition, we look at single touch payroll reporting requirements. We discuss a number of Federal budget changes that are still in limbo such as extensions to the $20k instant write-off and removal of CGT exemption on your main residence for non-residents. Also discuss are benefits provided during environmental emergencies and exemption from FBT.

We hope you find this edition of Your Knowledge informative, and invite you to contact your CMS Advisor to discuss any of the content and how it may have an impact on you.

Your Knowledge News – February 2019

In this edition, we look at estate planning, tax warnings on overseas income and tax changes that came in force on 1st Jan 2019. We also take a look at cyber scams and breaches.

We hope you find this edition of Your Knowledge informative, and invite you to contact your CMS Advisor to discuss any of the content and how it may have an impact on you.

Newsletter – Summer 2018

In this edition, we look at some recent tax changes and have a follow up to our Winter newsletter article on the Single Touch Payroll system, which will impact small business employers from 1 July 2019.

In the lead-up to the Federal Election next year, we take a look at one of the Labor Party’s planned tax policies in relation to franking credits. With Christmas just around the corner, we also take a brief look at Fringe Benefts Tax consequences of providing gifts and benefts to staff, with the ATO being ‘The Grinch’.

Lodgement Rates & Thresholds | 2018-19 Issue

To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place.

This guide includes tax rates, offset limits
and benchmarks, rebate levels, allowances, and essential super as well as FBT rates and thresholds (including current gross-up factors) and student loan repayment rates.

Summer 2017/18

Our feature article this edition is also our client profile. RemiPeople is an Adelaide based business who has developed an automated recruitment application designed to help business’ select the best candidates for the role by eliminating bias from the screening process.

Client Information Newsletter – Tax & Super

Lodgment rates and thresholds guide 2017-18

To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place.

This guide includes tax rates, offset limits and benchmarks, rebate levels, allowances, and essential superannuation as well as fringe bene t tax rates and thresholds (including current gross- up factors). Student loan repayment rates and salary levels are also included.