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
ATO speaks on risk factors, surveillance triggers for FY19
ATO’s corporate residency guidance cops backlash
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
Articles archive
Quarter 2 April - June 2018
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 4 of 2012
Articles
Merry Christmas to all our clients, your staff, family and friends
FBT - Christmas Parties and Taxi Fares
Employee Christmas Parties and Gifts - Any FBT?
Victorian Stamp Duty Reduction - First Home Buyers
School Bonus - Action Required
Cloud computing central to SME accounting
Traps to avoid with In-specie Transfers to Self-managed Funds
Companies are now able to carry back losses
Want to do some of your own research – no problems?
Living Away from Home Arrangements - Legislation Announcements
Living Away from Home Allowances Proposals
Education Tax Refund Replaced by 'School Kids Bonus'
Education Tax Refund Replaced by 'School Kids Bonus'

The recent Federal Budget removed from the income tax return, the Education Tax Refund and substituted a direct payment.

 Eligible families will receive two equal instalments in January and July each year, beginning January 2013.

Each child in primary school will be eligible for $410 and each child in high school will be eligible for $820.

 



There is no requirement to complete any tax schedules nor retain any evidence of expenditure.

Eligibility for the payment will occur where children are enrolled and attending school and are receiving Family Tax Benefit Part A or would be eligible for Part A, if it were not for some other qualifying income support payments or allowances under a prescribed education scheme.

As part of the transition the (old) Education Tax Refund for 2011-12 was paid in full as a lump sum payment between 20 and 29 June 2012 to eligible families.

If eligibility is uncertain, and you did not receive any payment, registration for the Family Tax Benefit Part A is worth investigating.  The transitional rules are complex, with eligibility determined by the family circumstances on the 8th May 2012.  

Eligibility for the Schoolkids Bonus will be based on entitlement to one of the following payments:-

 

  • Family Tax Benefit Part A
  • Youth Allowance
  • ABSTUDY
  • Disability Support Pension

Some families will need to advise that their child has started primary or secondary school to receive payment.

The Department of Human Services is the new agency (was Centrelink) to contact.

 

 

 

 

 

 

 

 



4th-October-2012