Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
Salary sacrifice integrity
Understanding the evolution of blockchain and cryptocurrencies
Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Tax Office reveals adventurous, dubious claims ahead of tax time
ATO reveals top tax time mistakes, set to contact 1 million taxpayers
Watch out for charges with incoming GST laws.
Super savings gap for women stuck at 30%
‘Wipe the slate clean’: Clients, accountants urged to use new amnesty period
Statistics for all Australians
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
Cryptocurrency audits tipped to increase this EOFY
Australia by numbers – Update
$2.4m lost to tax scams, ACCC reports
No GST on digital currency
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
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Articles
Reduction to Minimum Pension Drawdowns for 2008/09
Government Stimulus Package
Working Australian Tax Bonus ($300 - $900 per individual)
Working Bonus – More Detail
Single Income Family Bonus ($900 per family)
Training and Learning Bonus ($950 per individual)
Farmer’s Hardship Bonus ($950 per household)
George & John News
2008 Tax Return Checklists
Send us your File via our website.

Specific Roles of an Executor

What does an Executor do?
Specific Roles of an Executor
Appointor – what does this mean?

Role of Trustees of Family Trusts

PAYG Instalments 20% Reduction
Granny Flats - are you entitled to Rent Assistance?
Interest Rates & Strategies
Change in Fuel Tax Credits
Granny Flats - are you entitled to Rent Assistance?
As we age, we might have to choose between several different types of accommodation. One option that is viewed favourable by Centrelink is a granny flat.

A granny flat can be a separate, self-contained dwelling built on someone else's property, a right to accommodation for life, or a life interest in a home that is to be your principal home. You have a granny flat interest if you contributed money or other valuable assets - for example, your previous family home - in exchange for your granny flat, even if it legally belongs to someone else.

If you own or part-own your home you do not have a granny flat interest. The value of a granny flat interest is generally the same as the amount paid for the interest. However, a ‘reasonableness test' may be applied and amounts in excess of what is considered reasonable may be assessed under the gifting rules.

The value of your granny flat interest (Entry Contribution) is used by Centrelink to determine your homeowner status and eligibility to Rent Assistance.

Granny flat interests are often family arrangements and are seldom covered by any contract or agreement. However, this does not decrease their status for the purpose of these rules.

 

 

 

 

 



4th-February-2009