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AWARD yourself!
Every business owner deserves to be empowered with knowledge to make confident, successful business decisions.
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AWARD yourself
Receive personalised, easy-to-understand financial advice from our team of knowledgeable professionals.
2013 – 14 Budget
Key Initiatives of the 2013-14 BUDGET A strong economy and a path to surplus Australia’s economy continues to outperform most of the developed world. In response to difficult global conditions
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Individuals
ATO HELP & Financial Supplement
HELP & Financial Supplement annual statement will no longer be issued You will no longer automatically receive an annual statement of account from th ATO. You do not need your HELP (Higher Education Loan Program) or Financial Supplement account details to prepare your tax return. You will only need this information if you want to [...]
Tax Tips For Tough Times For Individuals & The Self-Employed in Australia
Here are our tips: 1. Claim all work-related deductions At first blush, the task of compiling all your work-related deductions may appear daunting especially given the need to collate all the required receipts for any significant claims. However, taking the time to understand what ‘work-related expenses’ are potentially deductible can save you considerable cost. Moreover, [...]
Q: What happens if I have a large payable and can’t pay this in one payment? A: You need to contact the ATO to make a payment arrangement making sure to ask if you are eligible for General Interest Charge free. To contact the ATO, Personal 13 28 61 Business 13 28 66 or we could [...]
AWARD APP LAUNCH
New GST app makes on-the-job quoting quicker and ATO compliance easier AWARD gives tradies and small biz owners help in their hand Award Accounting have combat a trend of GST
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Taxable payments annual report due by 21 July 2013
Lodging your Taxable payments annual report If you are in the building and construction industry and you made payments to contractors for building and construction services during the year ending
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Wealth Creation
Tips On How To Start Property Investing
Make no mistake, for the younger generations retirement is going to have to be funded by themselves and the sooner one starts to set up their retirement the better and easier it will be. Property investment is still one of the best ways to build your wealth. For Baby Boomers it was “buy your own [...]
Like all investments it pays to do your homework before you take the plunge into property. But even with rising interest rates, a sound strategy can pay off. The shortage of rental properties, combined with rising prices in most markets, means that if you choose the right property and make sure you keep a close [...]
Guide to Investing What’s the secret of investment success? According to the Australian Securities and Investment Commissions consumer website, MoneySmart, it’s not the kind of mantra you’d find at the roulette wheel of a casino. ‘Instead of relying on good luck, the wise investor takes time to understand the basic principles of investing-then develops and [...]
Superannuation
Superannuation in Australia is growing in significance with the aging population and government policy encouraging personal reliance on superannuation. Currently there are currently over 500,000 self-managed super funds in Australia with this number growing. The average member balance in SMSFs is $467,000. The tax advantages of a SMSF are clear – income from investments held [...]
Beware Compliance when Self-Managing Super
While any such transfer will be subject to a 15 per cent tax, any income derived as a consequence of the transfer will also only be subject at the most to a 15 per cent tax. More important is that once the taxpayer turns 60, pensions paid by the fund to the taxpayer will be [...]
Generally, you have to pay super for your employees if they: are aged between 18 and 70 are paid $450 (before tax) or more in a calendar month, and work full-time, part-time or on a casual basis. The minimum super amount you have to pay is 9% of each eligible employee’s earnings base. It’s important [...]
Referal Rewards
