Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

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Hot Issues
Strategies to handle scam phone calls and problem e-mails.
Instant asset write-off threshold upped to $25k
Jail time for GST fraud
Correcting GST Errors
Fuel tax credit rates raised
ATO set to contact clients for overdue TPAR
Reminder on Victoria Property Duties
How Australia is performing.
Global outlook summary: Down but not out
Bookkeepers remind on incoming TPRS obligations
Golden Rules for Deductions
How's Australia going - vital statistics?
Tax, SMEs set to be ‘political football’ in 2019 as election nears
Cap lifted on popular financing option for clients
Expiry of 900,000 interest-only loans set for January
Australian Taxation Office (ATO) Scam Alert: Fake Demands for Tax Payments
Tax Office sounds alarm on popular property strategy
Our Advent calendar for 2018
‘Please do not panic’: ATO boss addresses STP concerns
Stop!! Don't do a paper Budget, use our online budgeting tools instead.
Employee Christmas Parties and Gifts – Any FBT?
Behavioural Coaching and your financial plans
FBT – Christmas Parties and Taxi Fares
Information needed to be the BBQ expert.
Tax consequences of trust vesting
Fringe Benefits Tax (FBT): employees’ private use of vehicles
ATO to contact clients over bank details
ATO claws back $850m in unpaid SG in FY 17-18
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Articles
1 July 2012 Superannuation Reminder
Education Tax Refund Replaced by ‘School Kids Bonus’
Living Away from Home Allowances Proposals
Trustee Resolutions – Family Trusts
Investment loan interest payment arrangements
Family Trusts – Children 18 this year?
Australian Taxation Office (ATO) targets disclosure of foreign sources of income
1 July 2012 Superannuation Reminder
There are several key numbers that potentially change on 1st July 2012 impacting superannuation.

Well reported is the cap of $25,000 for concessional contributions, regardless of age.

 

Contributions in excess of $25,000 for the 2012/13 year will result in excess contributions tax.

 

Some readers may recall that there was to be a higher cap for persons aged 50 and over, with less than $500,000 in superannuation, but that proposal did not become legislation.  It might in the future.

 

The other key number is that the minimum annual pension payments are 75% of the old minimums.  There is some comfort that this reduction is the same as the 2011/12 financial year, so minimum pension payments should not change.

 

Failing to pay out the minimum, results in the earnings of the fund becoming taxable (rather than tax free).



2nd-August-2012