<?xml version="1.0" encoding="UTF-8"?><rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0"><channel><title>Alderman &amp; Associates Chartered Accountants Adelaide</title><link>https://www.aldermanassoc.com.au/</link><description><![CDATA[Alderman & Associates RSS]]></description><pubDate>Fri, 06 Apr 2018 08:30:00 +0000</pubDate><managingEditor/><generator/><language>en</language><docs>http://blogs.law.harvard.edu/tech/rss</docs><atom:link rel="self" type="application/rss+xml" href="https://www.aldermanassoc.com.au/"/><item><title><![CDATA[What is an actuarial and will my SMSF need one?]]></title><link>https://www.aldermanassoc.com.au/blog/what-is-an-actuarial-and-will-my-smsf-need-one-</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/34554</guid><description><![CDATA[
 

 If your SMSF has a combination of pension and accumulation assets at any point during the financial year then you will require an actuarial certificate.&nbsp;An actuarial certificate will give you a tax exempt percentage for your Fund.&nbsp; This will tell you the proportion of the Fund which was tax free.

 The tax exempt percentage is the total average pension assets divided by total average Fund assets.&nbsp; This gives the average proportion of assets in the SMSF which were back...]]></description><pubDate>Fri, 06 Apr 2018 08:30:00 +0000</pubDate></item><item><title><![CDATA[Are your Capital Gains Tax records in order?]]></title><link>https://www.aldermanassoc.com.au/blog/are-your-capital-gains-tax-records-in-order-</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/26250</guid><description><![CDATA[
 

 Capital Gains Tax is a harsh reality for any investor. It pays to stay on top of record keeping for your capital assets, especially long-term ones. It may seem difficult to keep track of everything now but in twenty years time it will be even more difficult.

 Two of the most common capital assets in Australia are shares and property.

 Outlined below are examples of the information you may require for capital gains tax purposes.

 Shares:

 
  Original purchase details, incl...]]></description><pubDate>Tue, 13 Mar 2018 22:30:00 +0000</pubDate></item><item><title><![CDATA[What is the work test?]]></title><link>https://www.aldermanassoc.com.au/blog/what-is-the-work-test-</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/27434</guid><description><![CDATA[
 

 If you are aged over 65 you must satisfy the &quot;work test&quot; before you can make a super contribution.

 The work test is defined as 40 hours of gainful employment in a consecutive 30-day period.

 The work undertaken must be for gain or reward i.e wages or salary. Because of this criteria charity and volunteer work does not meet the work test.

 Should you have any questions in relation to the work test or your SMSF please contact our office.
...]]></description><pubDate>Mon, 04 Dec 2017 22:30:00 +0000</pubDate></item><item><title><![CDATA[SMSF Sole Purpose Test]]></title><link>https://www.aldermanassoc.com.au/blog/smsf-sole-purpose-test</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/27438</guid><description><![CDATA[
 

 &nbsp;

 Self managed superannuation funds must meet the sole purpose test under the Superannuation Industry (Supervision) Act 1993 (SISA).
The test is based on the principle that superannuation benefits provide for the members retirement, and any investment decision must be made for the future rather than present benefit.

 Common breaches include:

 
  Purchasing an investment that gives benefit to a member or associate before they retire<br />
  &nbsp;
 
  Providing financial ...]]></description><pubDate>Tue, 14 Jun 2016 23:30:00 +0000</pubDate></item><item><title><![CDATA[SMSF Setup]]></title><link>https://www.aldermanassoc.com.au/blog/smsf-setup</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/34550</guid><description><![CDATA[
 

 According to the ATO during the 2012/2013 financial year 35,000 SMSF&rsquo;s were established taking the total number of SMSFs to over 500,000.The benefits from establishing a SMSF range from investment control, flexibility with contributions and pension withdrawals, outperformance of industry funds and administration cost savings.

 Investment control includes being able to invest directly in real estate property and unlisted share investments, options that are not available to memb...]]></description><pubDate>Fri, 30 May 2014 08:30:00 +0000</pubDate></item><item><title><![CDATA[Change of Details for Companies]]></title><link>https://www.aldermanassoc.com.au/blog/change-of-details-for-companies</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/27706</guid><description><![CDATA[
 

 Directors and secretaries of a company are responsible for ensuring ASIC is advised of changes to business, registered or residential addresses, changes to officeholders, name changes and shareholding changes.

 If ASIC is not advised of these changes within 28 days the company could incur a fine of $72 for up to one month late or $299 for over a month late per company that the changes effect.

 As an ASIC registered agent for the majority of our clients, we are able to update our...]]></description><pubDate>Wed, 19 Feb 2014 22:30:00 +0000</pubDate></item><item><title><![CDATA[Salary Packaging for Employees]]></title><link>https://www.aldermanassoc.com.au/blog/salary-packaging-for-employees</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/27702</guid><description><![CDATA[
 

 &nbsp;

 You don&rsquo;t need a pay rise to increase your income.&nbsp;

 Salary Packaging is an entitlement granted by the Federal Government to all workers that allows you to take part of your income as a tax-free benefit.

 Salary packaging works by having a portion of your pre-tax salary deducted to pay for certain expenses. Income tax will then only apply to the amount of your salary that remains after these deductions have been applied.

 Salary packaging is limited for ...]]></description><pubDate>Wed, 19 Feb 2014 04:30:00 +0000</pubDate></item><item><title><![CDATA[Tech News]]></title><link>https://www.aldermanassoc.com.au/blog/tech-news</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/26622</guid><description><![CDATA[
 

 The Australian Taxation Office has launched new specialized search engine on their website called: Small Business Assist.

 You can access this search engine through the business section of the ATO&rsquo;s website and it allows users to search for information relevant to small business owners.

 The user can search a general topic or can type a specific question in and the information is provided in a clear, easy-to-read format. Calculators, videos and website links are provided o...]]></description><pubDate>Sun, 19 Jan 2014 23:30:00 +0000</pubDate></item><item><title><![CDATA[Tech Update]]></title><link>https://www.aldermanassoc.com.au/blog/tech-update</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/26222</guid><description><![CDATA[
 

 &nbsp;

 The Australian Taxation Office has just released an updated version of their taxpayer assist App.

 You can find this App by simply searching &lsquo;ATO&rsquo; in your relevant App store.

 The prominent features of the App are:

 
  Access current income tax rates for Australian residents, foreign residents and minors;
 
  Read the latest tax news, any important updates, frequently asked questions and give feedback;
 
  Calculate a payment plan for your tax liab...]]></description><pubDate>Wed, 08 Jan 2014 22:30:00 +0000</pubDate></item><item><title><![CDATA[Reduction in Small Business Depreciation]]></title><link>https://www.aldermanassoc.com.au/blog/reduction-in-small-business-depreciation</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/25102</guid><description><![CDATA[
 

 &nbsp;

 Some small business accelerated depreciation rules will be removed from 1 January 2014.

 <br />
 Since 1 July 2012 eligible small business taxpayers have been able to claim an immediate deduction for assets costing less than $6,500. This will revert to a threshold of $1,000 for assets that are first installed and ready for use on or after 1 January 2014.

 <br />
 If the value of a small business entity&rsquo;s low-value pool is less than $6,500 at the end of the income tax year...]]></description><pubDate>Sun, 24 Nov 2013 22:30:00 +0000</pubDate></item><item><title><![CDATA[$500 Low Income Super Contribution]]></title><link>https://www.aldermanassoc.com.au/blog/-500-low-income-super-contribution</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/24234</guid><description><![CDATA[
 <br />
 

 If you or your employer paid concessional (before tax) contributions to a complying superannuation fund you may be eligible for the low income superannuation contribution (LISC).

 The LISC is a government payment designed to help offset the tax paid by superfunds for low income individuals. The LISC is 15% of the concessional contributions paid into your super fund during the financial year. The maximum payment that you can receive is $500.

 Are you eligible?

 To be eligib...]]></description><pubDate>Thu, 31 Oct 2013 00:30:00 +0000</pubDate></item><item><title><![CDATA[A Change is Coming...]]></title><link>https://www.aldermanassoc.com.au/blog/a-change-is-coming---</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/23666</guid><description><![CDATA[
 

 Proposed Taxation Changes 2013-14

 The new Coalition Government has proposed various taxation changes for their first term. A large number of these are repeals of legislation that the Labor government only recently introduced.

 Some of the important proposed changes are as follows:

 Small Business Entities (SBE):

 
  Remove the increased immediate deduction for assets costing less than $6,500
 
  Remove the accelerated depreciation deduction for the first $5,000 of the ...]]></description><pubDate>Sun, 13 Oct 2013 22:30:00 +0000</pubDate></item><item><title><![CDATA[Do you have any Lost Money or Lost Super?]]></title><link>https://www.aldermanassoc.com.au/blog/do-you-have-any-lost-money-or-lost-super-</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/22762</guid><description><![CDATA[
 

 Unclaimed Money

 <br />
 The Australian Securities and Investment Commission (&ldquo;ASIC&rdquo;) hold the federal records for all unclaimed monies.

 <br />
 Unclaimed money can originate from:

 
  Banks and other Authorized Deposit-taking Institutions;
 
  Life Insurance companies and Benefit Fund Friendly Societies;
 
  First Home Saver Accounts;
 
  Companies with unclaimed money such as resulting from the liquidation of a company.


 <br />
 Money is transferred to the ASIC un...]]></description><pubDate>Mon, 09 Sep 2013 05:30:00 +0000</pubDate></item><item><title><![CDATA[Beware of the Latest Fake ATO E-Mail Scam]]></title><link>https://www.aldermanassoc.com.au/blog/beware-of-the-latest-fake-ato-e-mail-scam</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/22630</guid><description><![CDATA[
 There are a number of ATO scam emails currently circulating. These emails claim to come from the ATO and generally offer a tax refund. The emails go to great lengths to convince recipients that they are genuine and often contain a replica of the ATO&rsquo;s logo. They usually link to a bogus ATO website asking for personal and credit card details.

 The ATO have confirmed they will never ask for personal or credit card details in an email.

 Key indicators of the scams include:

 
 ...]]></description><pubDate>Tue, 03 Sep 2013 06:30:00 +0000</pubDate></item><item><title><![CDATA[Free Money!]]></title><link>https://www.aldermanassoc.com.au/blog/free-money-</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/21502</guid><description><![CDATA[
 &nbsp;

 

 &nbsp;

 If you&#39;re a low-to-middle income earner, the government may help boost your super savings through the super co-contribution.

 The ATO uses the information on your tax return and the contribution information received from your super fund to work out whether you&rsquo;re eligible. If you are, the ATO will calculate the co-contribution amount and deposit it into your super account.

 The 2014 financial year has a matching rate of 50% to a maximum of $500; m...]]></description><pubDate>Wed, 24 Jul 2013 04:30:00 +0000</pubDate></item><item><title><![CDATA[Payslips - Are They Correct?]]></title><link>https://www.aldermanassoc.com.au/blog/payslips---are-they-correct-</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/21178</guid><description><![CDATA[
 

 &nbsp;

 Did you know that you are required by law to give your employees their payslip within one day of their pay day, either in hard copy or electronically? Not providing your employees their payslips in a timely and correct manner can lead to serious consequences under the Fair Work legislation.

 So&hellip; what should be included on the payslips?

 
  The name of the employer
 
  The employer&rsquo;s ABN
 
  The employees&rsquo; name
 
  Date of payment
 
  The pa...]]></description><pubDate>Wed, 10 Jul 2013 02:30:00 +0000</pubDate></item><item><title><![CDATA[Motor Vehicle Expenses - Employees]]></title><link>https://www.aldermanassoc.com.au/blog/motor-vehicle-expenses---employees</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/21106</guid><description><![CDATA[
 

 If you use your car for work you are entitled to claim the costs of using your car to do your job as a tax deduction.

 You can claim motor vehicle expenses for travel between:

 
  Your workplace and an alternative workplace (eg. a clients property, place of training etc.)
 
  An alternative workplace and another alternative workplace (eg. one client&rsquo;s property to another)
 
  Two separate work places (eg. when you have a second job)
 
  To and from work when you hav...]]></description><pubDate>Mon, 08 Jul 2013 03:30:00 +0000</pubDate></item><item><title><![CDATA[Home Office Expenses]]></title><link>https://www.aldermanassoc.com.au/blog/home-office-expenses</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/21102</guid><description><![CDATA[
 

 &nbsp;

 If you carry on all or part of your employment activities from home, then you may be eligible to claim a portion of your expenses as a tax deduction. 

 Ideally, you should have a room set aside as a home office. The area must be clearly identifiable as a place of work and used almost exclusively for work purposes.

 The expenses you can claim are:

 
  Heating, cooling and lighting
 
  Decline in value (depreciation) of home office furniture and fittings
 
  Dec...]]></description><pubDate>Mon, 08 Jul 2013 03:30:00 +0000</pubDate></item><item><title><![CDATA[Now is the time to... Make a Budget]]></title><link>https://www.aldermanassoc.com.au/blog/now-is-the-time-to----make-a-budget</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20838</guid><description><![CDATA[
 

 Think of it as a snapshot&nbsp;of your present situation and your future.

 A personal budget gives a realistic view of your potential.

 It provides a benchmark of your progress.

 It shows where you can save, and where you should trim your lifestyle to match your income.

 Take the reality check.

 Get Rich Slow. Start Now. Start Small. Achieve Real Wealth.
&#39;Slow and steady wins the race&#39; - Aesop...]]></description><pubDate>Mon, 01 Jul 2013 05:30:00 +0000</pubDate></item><item><title><![CDATA[Now is the time to... Seek Advice]]></title><link>https://www.aldermanassoc.com.au/blog/now-is-the-time-to----seek-advice</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20778</guid><description><![CDATA[
 

 It must be from a respected source, and balanced against your own knowledge and instincts. 

 But seeking advice brings many rewards: it honours the giver; it enhances the receiver; it creates perspective.

 &#39;Wise men don&#39;t need advice. Fools won&#39;t take it&#39; Benjamin Franklin (1706-1790)
...]]></description><pubDate>Thu, 27 Jun 2013 02:30:00 +0000</pubDate></item><item><title><![CDATA[Net Medical Expenses Tax Offset Phase Out]]></title><link>https://www.aldermanassoc.com.au/blog/net-medical-expenses-tax-offset-phase-out</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20738</guid><description><![CDATA[
 

 &nbsp;

 What does this mean for you?

 As part of the 2013-14 Budget the Government announced that it will gradually phase out the Net Medical Expenses Tax Offset (NMETO) with a &quot;use it or lose it&quot; system.

 This will mean if you do not claim the NMETO in your 2012-13 tax return, you will not be eligible for the offset in any future year.

 If you received the NMETO in your 2012-13 tax return, you will be eligible to receive the offset for all eligible out-of-pocket...]]></description><pubDate>Tue, 25 Jun 2013 23:30:00 +0000</pubDate></item><item><title><![CDATA[Will Trusts]]></title><link>https://www.aldermanassoc.com.au/blog/will-trusts</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20730</guid><description><![CDATA[
 

 &nbsp;

 As a result of superannuation, life insurance, inheritances and homes, most people are worth more than they think.

 When organising your will, it is important to structure your estate to ensure that all of your assets are distributed to the people you choose, and that those people do not pay more tax than is necessary.

 Considerable savings are available if you take the time to plan your estate properly.

 One tool for structuring estates is the discretionary will o...]]></description><pubDate>Tue, 25 Jun 2013 23:30:00 +0000</pubDate></item><item><title><![CDATA[Rich Relationships]]></title><link>https://www.aldermanassoc.com.au/blog/rich-relationships</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20686</guid><description><![CDATA[
 &nbsp;

 

 &nbsp;

 Cultivate customer relationships and watch your business thrive. 

 Word of mouth is still the most powerful form of advertising &ndash; a clich&eacute; perhaps, but true all the same.

 Relationship marketing can be vital in creating customer loyalty. It is important to ensure that the customer has the best possible experience every time they come through the door or have contact with the business.

 It is much more difficult and expensive to acquire a cus...]]></description><pubDate>Tue, 25 Jun 2013 03:30:00 +0000</pubDate></item><item><title><![CDATA[Cash is King!]]></title><link>https://www.aldermanassoc.com.au/blog/cash-is-king-</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20602</guid><description><![CDATA[
 

 &nbsp;

 With 30 June just around the corner, small businesses are beginning to wonder why their accountants say they have made a profit yet their bank balance never seems to grow.

 The simple answer is cash flow!

 Cash flow is the lifeblood of any business and managing your cash flow is key for successful business operations.

 How do you manage and improve your cash flow? Below are some helpful hints:

 
  Invoice your customers regularly and follow them up if they are ...]]></description><pubDate>Sun, 23 Jun 2013 05:30:00 +0000</pubDate></item><item><title><![CDATA[Superannuation Binding Death Benefit Nominations]]></title><link>https://www.aldermanassoc.com.au/blog/superannuation-binding-death-benefit-nominations</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20590</guid><description><![CDATA[
 

 Following the death of a member of a super fund the trustee is responsible for administering the members balance by way of payout to beneficiaries or by allocating to a reversionary pension.

 To remove this uncertainty we recommend that members consider a Binding Death Benefit Nomination.

 Many of our funds have non-binding nominations in place that can be used by the trustee as a guide when distributing death benefits. The problem is that ultimately with a non-binding nominatio...]]></description><pubDate>Sat, 22 Jun 2013 03:30:00 +0000</pubDate></item><item><title><![CDATA[Taxable Payments Annual Report - Building & Construction Industry]]></title><link>https://www.aldermanassoc.com.au/blog/taxable-payments-annual-report---building---construction-industry</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20594</guid><description><![CDATA[
 

 &nbsp;

 The first annual Taxable Payments Report is due 28 July 2013 (or 21 July for those businesses who lodge monthly Business Activity Statements) for businesses primarily in the building and construction industry who have made payments to subcontractors during the year ending 30 June 2013.

 The Government has designed this report to improve compliance with tax obligations by&nbsp;those contractors who are currently not doing the right thing. However, the reporting obligation...]]></description><pubDate>Fri, 21 Jun 2013 03:30:00 +0000</pubDate></item><item><title><![CDATA[End of Financial Year Reminder]]></title><link>https://www.aldermanassoc.com.au/blog/end-of-financial-year-reminder</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20682</guid><description><![CDATA[
 

 &nbsp;

 Do you need to make a super contribution, withdraw a pension or pay a business expense prior to 30 June 2013?

 Don&rsquo;t leave it too late &ndash; as 30 June falls on a Sunday this year the banks have recommended that payments are made no later than Tuesday 25 June to ensure that it is cleared and recorded on your bank statement prior to the last business day of the financial year &ndash; Friday 28 June.
...]]></description><pubDate>Thu, 20 Jun 2013 03:30:00 +0000</pubDate></item><item><title><![CDATA[Now is the time to... Prepare]]></title><link>https://www.aldermanassoc.com.au/blog/now-is-the-time-to----prepare</link><guid>https://www.aldermanassoc.com.au/blog/post/view/post/20690</guid><description><![CDATA[
 

 &nbsp;

 How often do you start something without any homework?

 Yet preparation is usually all that&#39;s within our control. We waste countless hours by ignoring it. Whatever the project, think ahead: consider its needs, its problems, its shortcuts. Give yourself every advantage. Build your confidence, create options. Time spent doing this will be handsomely rewarded.

 If I had six hours to chop down a tree, I&#39;d spend the first four hours sharpening the axe &nbsp;-&nbsp;...]]></description><pubDate>Tue, 18 Jun 2013 03:30:00 +0000</pubDate></item></channel></rss>
