Client Newsletter – December 2014

Welcome to our final newsletter for 2014, another deposit of analysis and information on a range of taxation and reporting issues relevant to businesses and individuals.

This month we look at new legislation such as:

  • 〉 On April 1, 2015, the Fringe Benefits Tax increases from 47% to 49%. This month we look at the cascading effect of this small change on employers and employees.
  • 〉 The Tax Office has recently formalised income and deduction arrangements from ‘mate’s rates’ rentals of holiday homes to friends and families. We go through the changes and what they mean.
  • 〉 And to finish the year on a lighter note, we look at some of the strangest taxes on record: English houses taxed on the number of windows, a Russian tax on wearing beards etc. We’ll certainly keep you posted if Canberra decides to implement any of these in the new year!

And us usual, please pick up the phone if you want to talk through turning anything in the newsletter to your advantage. You know we’re here to help.

 

For the full newsletter  CLICK HERE  〉

Celebrate the End of Financial Year with your team and ours

Celebrate the End of Financial Year with your team and ours

The End of Financial Year (EOFY) is upon us. For business owners, like you and I, there are many moving parts to be aware of. There are yearly financial statements to create, taxes to pay, deductions to claim, and documentation to submit to the ATO.

30 June is coming – what’s your game plan?

30 June is coming – what’s your game plan?

End of Financial Year Tax Planning. While Covid-19 and the uncertain business landscape it created made planning difficult, what we can say with certainty at MWM is that in our experience those who had a plan have navigated the past two years more successfully than those who didn’t.