Rede Accountants May 2023 – ‘Ace in the Hole’ Budget 2023-24 This Newsletter covers : ‘Ace in the Hole’ Budget 2023-24 What wasn’t in the Budget? The team Individuals & families Superannuation & investors Business & employers Government & regulators Other The economy Timeline of initiatives View our newsletter Newsletter PDF. Take Care Col, Ken […]
Latest News – Budget 2022 There is nothing in this Budget that would create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives. And, the commodity driven $54.4 billion improvement in tax […]
Most business proprietors have business goals and aims in their mind. However few prepare formal written and documented budgets of these goals and aims that can be used effectively in driving their business forward. There is an old saying that cash is king in business. Without cash flow there will soon be no business. The […]
BUYING A BUSINESS You have made the big decision. I am going to buy my own business in a certain industry that I am confident I have the skill set to be successful. What should you consider? Financial trading and cash flow trends and history. You should obtain at least 3 years of trading figures. […]
CAPITAL GAINS TAX AND SELLING A BUSINESS John (a hypothetical sole trader) has just sold his business for a large profit. The tax man is waiting for his share. Yes, gains resulting from the sale of businesses are subject to capital gains tax (subject to owning the business before 19 September 1985). HOW ARE CAPITAL […]
With the growing popularity of cryptocurrency over the past year, it seems like everybody has had it brought up to them in one way or another. The exponential increase of prices throughout a large majority of tokens has gained the attention of many, with most quite eager to get involved. Due to the increasing digitalization […]
The Tax Office will move to engage around 100,000 taxpayers ahead of tax time to alert them to their tax obligations as it moves to firm its stance on accounting for cryptocurrency. The ATO on Friday warned that it would write to about 100,000 taxpayers to alert them to their tax obligations amid growing […]
The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. It is also a human budget (cynics would say voter focussed), with $17.7 billion dedicated to aged care, more money in the pockets of low-income earners, the […]
INDIVIDUAL TAX ASSESSMENTS AND QUARTERLY TAXES If you have a MYGOV account, the ATO are now bypassing the tax agent and uploading your annual tax assessment into your MYGOV account. They then either send you a text or email (depending on your nominated preference). You should not ignore this as there is no paper assessment […]
‘Catch up’ contributions were introduced on 1 July 2018, whereby any ‘unused’ contributions in the member’s concessional contributions cap could be caught up and made into their superannuation fund during the following financial years. 2019-2020 was the first time these types of contributions could be made. It is important to note this is not a […]
COL WILSON B.COM, FCPA, REG'D TAX AGENT
KEN LUDEKE FCPA, FCA, REG'D TAX AGENT
Annette Pleavin B.BUS, CPACertified Practising Accountants
Suite 1004, Level 10 "The Rocket" 203 Robina Town Centre Drive Robina QLD 4226
Tel: 1300 399 599
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