Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
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Update of Australia's vital statistics
ATO speaks on risk factors, surveillance triggers for FY19
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ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
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Salary sacrifice integrity
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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%
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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
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Articles
FBT Reminder - Odometer Reading
Australian Taxation office (ATO) provides SMSF Disaster Relief
Youth Allowance - Australian Taxation Office (ATO) Initiative
February 2011 Newsletter
Commonwealth Education Payments
Flood Victims - Recovery Resources
Tax Lodgements for Flood Affected Taxpayers
Bucket Donations to Flood Relief

January 2011 Newsletter

Personal Property Securities (PPS)
Current Depreciating Asset Issues
Budget Promises Fade Away
Flood Victims - Recovery Resources
.

Whilst Queensland and Victorian flood victims were impacted dramatically and the public response has been outstanding, it will be a long, long time to recover.

There will be a number of government resources and co-ordinated efforts to provide benefits in kind, possibly some red tape reduction (although it is unlikely that many of last years fire victims would agree) and it will be an expensive time for most.

Unfortunately, there will always be red tape and victims are encouraged to be persistent and patient and not resort to the easy way out.

Government support, government benefits, council help etc., will typically come without strings, but it will be frustrating to satisfy the bureaucratic mumbo jumbo that goes with our modern society.

It would be unwise to put expenses or capital items on credit cards or borrow from a bank, although naturally there will be a temptation to do so.  Worse still would be applying for early benefits from personal retirement funds.  Hardship provisions for withdrawal from super funds remain the same and generally do not allow withdrawal to meet a short term financial difficulty.

Charitable organisations will be examining every possible way to assist victims and will probably have learnt from the fires last year.  A year after those devastating fires, a significant proportion of the public funds raised still has not been allocated or spent.

Our suggestion – persevere, persevere, persevere, with the bureaucracy and the charities and eventually the money will come.

 



20th-February-2011