Phone: (03) 9563 4688


Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
300,000 SMEs utilising $20K write-off, says ATO
‘A bad thing times 10’: ATO set for new SMSF blitz
Capital Gains and Renounceable Rights
Paperwork bungles lead to $38k in payments
Australian Dietary Guidelines and healthy eating chart (PDF)
Former director liable for company’s unpaid tax liabilities
Resources on our site to help you, your family and your friends.
Super for housing measures enter Senate
No Special Circumstances to allow Excess Super Contributions
Housing tax measures progress to Parliament
AirBnb – wrong tax outcome?
Are young investors wasting their youth?
ATO sending 'more letters than ever' on income tax errors
Powerful Budgeting, cash flow and Super Tools available on our site.
Property, unit trusts in ATO's sights
Australian Dietary Guidelines and healthy eating chart (PDF)
Major Bank Levy Passed
NSW tops list as ATO reveals billions in lost super
How is your super going, ready for retirement?
Australia's leading causes of death - ABS
ATO increasing data exchange with international regulators
Illegal SMSF early access scheme leads to $6,000 fine
Our 'hardest' SMSF tasks
Uber drivers hit for 10% tax
Lack of literacy promotes unrealistic goals
Taxpayer failed to prove that payments were “loans”
New STP dates confirmed as ATO goes on compliance blitz
ATO flags compliance project for FY17/18
Items that heat up your depreciation deductions
Doing a budget is a good idea but ....
Articles archive
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 4 October - December 2007
Quarter 2 April - June 2007
Quarter 1 January - March 2007
Quarter 2 April - June 2006
Quarter 1 January - March 2006
Quarter 4 October - December 2005
Quarter 3 July - September 2005
Quarter 2 of 2011
When to put tax schemes to the test
Scrutiny on Takings
Benchmarking and Australian Taxation Office (ATO) Aggressive Approach
SMSF Member Verification System Made Easier
May 2011 Newsletter
April 2011 Newsletter
Federal Budget 2011-12.    At a Glance
Federal Budget 2011-12.   Overview
Outstanding Tax returns - Some Years?
Tax advice privilege for Accountants a possibility
Egg on Face? - Benchmark by Australian Taxation Office (ATO) Withdrawn
March 2011 Newsletter
May 2011 Newsletter
From John and George

MAY 2011


Hi and welcome to our May contact.


Its not far to the end of another tax year, and all of you in business should now be preparing for its completion.


Some reminders –

Ensure all of your PAYG Withholding and PAYG Instalments are up to date.

Check your wage records to confirm that you have Tax File Numbers for all employees.

If manually preparing PAYG Payment Summaries, make sure you have enough to cover all employees.

Reconcile Superannuation paid against the payroll; remember if an employee earns more than $450 in any month, Superannuation at 9% must be paid.


Remember that a deduction for Superannuation paid for the Month and/or Quarter ending June, will only be deductible if paid prior to 30 June; remember the cheque must be “presented” at your bank prior to 30 June.


Maintain and complete your Log Book, showing opening and closing odometer readings.


For our non-business clients – ensure you have all your PAYG Payment Summaries where you had more than one employer for the year; if any have been misplaced, contact the relevant employer and request a copy – they cannot refuse.

Check that all relevant diary notes, receipts and other source documents are on hand and complete.


Some further tips are below.


Enjoy the read



Included in this May communiqué –


            Tax time prompts planning warning, SmartStartUp - Link Here

            End of Financial Year for Small Businesses: Planing to Avoid a Cash Crisis, SmartStartUp - Link Here

            Getting into good year-round tax habits, SmartStartUp - Link Here

            Tax groups say crackdown on tax breaks for cars likely in Budget, SmartCompany - Link Here

            ATO cracks down on dodgy deductions for bogus business study tours, SmartCompany - Link Here

            Government set to crackdown on fringe benefits tax in next week's budget, SmartStartUp - Link Here





George Psiakis and John Clarke