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
What is Bankruptcy?
Update of Australia's vital statistics
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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
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
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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
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Articles
DECEMBER 2011 NEWSLETER
Merry Christmas 2011
Few know exactly what their true financial position is, do you?
Employee Christmas Parties and Gifts  -  Any FBT?
FBT - Christmas Parties and Taxi Fares
Charitable donations
SMSFs rise to meet new challenges
The Budgeting Tool / Calculators on our website have been upgraded.
Australian Taxation Office (ATO) Compliance - Fringe Benefit Tax
Personal Income Tax Rates - One Year Flood Levy
Self-education Expenses Win Short Lived
Minimum Pensions Increase
Minimum Pensions Increase
.

The minimum pension drawdown relief for superannuation pensions for the 2011 -2012 year will be reduced by 25%.  This was a 50% reduction in the previous year. It is expected that this drawdown relief be completely phased out by the 2012 -2013 year.

Several years ago the minimum pension was reduced to avoid super funds having to realise investments at a loss after the global financial crisis.

The government has decided we must be better off now.  Hence the minimum pension from 1st July 2011 is higher, and from 1st July 2012 will be back at 2009 levels.

Of greater importance – ensure in any SMSF to draw the minimum pension every year.  The penalty for non-compliance can be massive!

 

 

 

 

 

 



3rd-October-2011