Alfa Accountancy & Business Services | Website
Alfa Accountancy & Business Services
Phone: 0422 892 538 or 0405 678 321
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22.01.2022 Personal tax return due for lodgement on 31st Oct 2011.Nominate your tax practitioner to get an extension. www.alfaaccountancy.com.au or alternatively e-mail [email protected] or [email protected].
18.01.2022 Being debt-free at some point in your life, can be done and it's definitely something worth aiming for. Strive for good debt which is tax deductible. Loans for income producing investments, such as real estate or shares are all consider good debt. "This type of good debt can also be more tax efficient as interest repayments on loans to buy an investment property or shares is generally tax deductible." The general rule of thumb is to pay off bad debt like credit cards first as they usually have the highest interest rates," "If left to spiral out of control, they can cost a person thousands of dollars in interest over many years." One way to start the whole process,is to set a goal in your bad debt reduction. www.alfaaccountany.com.au
07.01.2022 Reform to small businesses accelerated initial deduction for motor vehicles. Taxpayers might be able to claim up to $5,000 as an immediate deduction for motor vehicles, with effect for vehicles acquired from the 2012-13 income year. The remainder of the motor vehicle value will be pooled in the general small business pool (depreciated at 15% in the first year and then 30%). In doubt? Contact us on [email protected] or [email protected] www.alfaaccountancy.com.au
05.01.2022 Default assessments for non-lodgers Any taxpayers who hasn’t lodge their tax return, might receive a 'Default assessment warning'’ from ATO anytime after 3 November 2011. Taxpayers might incur both of the following:... ... (1)Failure to lodge on time penalties (2) Administrative penalties of at least 75% of the tax related liability from the default assessment, after taking into account any pay as you go (PAYG) and any other tax credits available Reference to item7 in the table in subsection 284-90(1) of Schedule 1 to the Taxation Administration Act 1953. Any taxpayers who fall into this category?.Contact [email protected] or [email protected] www.alfaaccountancy.com.au
04.01.2022 How much can we put towards our retirement benefit? How well do we understand Superannuation? Concessional contribution. Concessional contribution includes the 9% compulsory super Guarantee made by employers Salary sacrificed amounts... Personal contributions allowed as a personal super deduction in their income tax return. For Year 2011-2012 the concessional contribution cap is either:- $25,000 for those 25 years of age or under. $50,000 for people 50 years of age or over. Non concessional contribution Non concessional contribution includes:- Personal contributors made after tax income that cannot be claimed as a personal deduction Contribution made by their partners Any contribution in excess of concessional contribution cap. The 2011-non concessional cape is $150,000 for everyone. Consult www.alfaaccountancy.com.au
