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Posted in 2013

$500 Low Income Super Contribution

Posted on 31 October 2013

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...
Posted in: Superannuation Employees 2014 SMSF 2013 Member ATO Data Matching Strategy   1 Comments

Beware of the Latest Fake ATO E-Mail Scam

Posted on 3 September 2013
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’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: ...
Posted in: 2014 2013 Tax Obligations ATO   0 Comments

Payslips - Are They Correct?

Posted on 10 July 2013
  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… what should be included on the payslips? The name of the employer The employer’s ABN The employees’ name Date of payment The pa...
Posted in: Employees 2013 Admin Accounting Software Compliance ATO   1 Comments

Home Office Expenses

Posted on 8 July 2013
  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...
Posted in: Business Structures Planning 2013 Admin Tax Obligations ATO Cash Strategy Home Office Work From Home   0 Comments

Motor Vehicle Expenses - Employees

Posted on 8 July 2013
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’s property to another) Two separate work places (eg. when you have a second job) To and from work when you hav...
Posted in: Planning 2013 Admin Tax Obligations ATO Strategy   0 Comments
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