Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
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
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading
Our website is really our digital office.
Articles archive
Quarter 1 January - March 2018
Quarter 4 October - December 2017
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 2012
Articles
Last-minute super contributions
ATO reporting requirements for builders and contractors
Pitfalls of 'late' super payment
Important - Private Health Insurance Rebate - 2012-13
Tax Time checklist - Company, Trust or Partnership - 2012
Tax time checklist - Superannuation Fund - 2012
Tax time checklist - Individuals - 2012
GST Change of Use Continuing Obligations
What is 'lost' Super?
Small Business CGT Concessions
GST Private Use Continuing Obligations

April\May 2011 Newsletter

Federal Budget 2012 - 2013  -  At a Glance
Federal Budget 2012-13  -  Overview
Federal Budget 2012 - 2013
More Pressure on SME's
Who will pay the unexpected FBT?
Carbon tax to commence on 1 July 2012
Government Set on Countering Phoenix Activities
MARCH 2012 NEWSLETTER
MARCH 2012 NEWSLETTER
Newsletter

MARCH 2012

  

Hello to all

 

This month we have some interesting articles for your information –

  

The “Power” principle appears to have been suggested to the ATO; it seems a bit like the norm of “innocent until proven otherwise” has been put aside. Now the ATO is attempting to hold refunds on the basis that “the return does not look quite right”.

I would have thought that maybe attached to the refund a notice listing queries or questions in regard to a particular return, with a 10 – 14 day reply deadline, would be more prudent..

 

All employers need to understand and accept that Employee Superannuation is a “must pay” employment expense. By the time penalties and interest are paid following audit, is it really worth it?

 

Be aware of any contracts you sign – that is the message – as you may put yourself in harms way where possibly tax avoidance is suggested. The legislation is yet to pass, but is applicable now.

What the exact legislation is and how it applies nobody knows – but it is effective now. I think something is not quite right – Yes…….No…….

 

Rental Property Deductions – be careful and keep good records. Consult professionals when thinking of investment renovation, or build. Keep GST in mind as it may be applicable.

Ed Chan (Chan & Naylor) has some advice.

We follow this with some tips regarding subdivision.

 

Is your employee an “employee” or a “contractor”?  As an employer or an employee, you must clarify which you are, to ensure that income and taxation calculations are correct.

 

“Data Matching” is becoming a very useful tool for the ATO. Now covering many SME’s and spreading further, and coupled with the “Industry Benchmarks” released earlier, the ATO is able to discover anomalies far more easily than before.

 

Just a note to all who have yet to see us for the 2011 tax year – 15 May 2012 – that’s the deadline; please ensure that you make an appointment, giving us time to complete and lodge your return(s).

 

Enjoy the coming break.

 

George Psiakis, George Carydias, and John Clarke.

 

Included in this March communiqué – 

Tax experts say new draft legislation allows ATO to withhold refunds unfairly, Patrick Stafford – Smartcompany - Link Here 

ATO plans crackdown on super-dodging micro employers, Michelle Hammond - Link Here 

Be careful what you sign, sign”: Businesses warned to seek advice on new contracts after Arbib sneaks through vague new tax avoidance provisions, Patrick Stafford - Smartcompany - Link Here 

The Tax Office has property investors in its sights, Ed Chan - Chan and Naylor - Link Here 

Subdivision can make you money, but there is a lot of potential for costly mistakes, Jo Chivers - Property Bloom - Link Here 

Employee v contractor a crucial distinction for workers, Taxpayers Australia Inc, Tax E-news - Link Here 

Tax and super cheats targeted by ATO’s improved Technology, Taxpayers Australia Inc, Tax E-news - Link Here 



2nd-April-2012