AgeWise Accounting Services in Mont Albert North, Victoria, Australia | Consultation agency

AgeWise Accounting Services

Locality: Mont Albert North, Victoria, Australia

Phone: +61 3 9850 3000

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• Tax preparation service
• Consultation agency
• Accountant
• Financial service

19.01.2022 cleThe Federal Budget 2014-2015, released 14 May 2014, will cease the Payroll Tax Supplement in an effort to achieve savings of $652.4 million over four years. Current eligible residential aged care providers will be impacted from 1 January 2015 onwards, when the Government ceases the supplement. Craig Holland, Principal of Agewise Accounting Services, said: ... "The elimination of the payroll tax supplement will have a significant impact on aged care operators as the supplement is used to offset the impact of payroll tax on employment. This impact will be even greater if the State Governments increase their state based taxes to compensate them for the reduction in their Federal Funding." Leading Age Services Australia (LASA), the peak body for aged service providers, has stated: These cuts directly erode the capacity for private providers to deliver front-line care services to older Australians. To read the full press release visit http://www.agewiseaccounting.com.au/news and click on the May 2014 Press Release

17.01.2022 While their is alot of heat in the Federal Budget announcement, until such time as we have fundamental tax reform, the issue of how are we going to raise money for Federal Government expenditure will continue. So what is the problem and what is the solution? The problem is that we have an ever ageing population and with this, a decrease in those earning income and paying taxes. This will put further constraints on revenue. Furthermore our ageing population will require g...reater levels of care and therefore our health costs will continue to increase. The only real solution to this is to shift our tax revenue base from an income based approach to a consumption based approach. This will require an increase in the GST rate and/or broadening the base (ie less exemptions). At the same time we provide a safety net to those more vulnerable in the community. If you use the services or you buy goods, you pay the tax. Why should we discourage people from working more or taking a second job to be taxed at a higher rate? Why should we be penalised for employing people by paying payroll tax to the State Governments? By broadening the GST base and / or increasing the rate we can take away our over reliance on income taxes (and even reduce them as they have done in NZ) thus encouraging productivity and restore the budget.

16.01.2022 .AgeWise Accounting Services is now on Facebook. Share us with your friends who may need corporate secretarial, accounting services, taxation and compliance services, business advisory and quality care services in the aged and health care sectors. Visit www.agewiseaccounting.com.au for more information.