Cairns Accounting Services Pty Ltd in Westcourt, Queensland, Australia | Business consultant

Cairns Accounting Services Pty Ltd

Locality: Westcourt, Queensland, Australia

Phone: +61 7 4031 7166

Address: 221 Lyons St 4870 Westcourt, QLD, Australia

Website: www.cairnsaccounting.com.au/index.htm

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• Accountant
• Financial service
• Business consultant
• Financial planner

25.01.2022 End of Year Tax strategies. Time to think on your tax liability and possible strategies that could reduce or delay tax for the financial year. First- how are you travelling this year?? If next year is looking like the optimistic outlook for Cairns then it may be better to bring forward the income -increase your current years profit and tax liability and not forward to next year....Continue reading

25.01.2022 As of the 1st July the Penalties will be imposed for business who are not super stream compliant. The ATO states that it will be lenient and flexible with employers who have mad a "genuine" effort to comply. However where it is deemed that no or little effort has been made to comply a 'strict liability' penalty can be imposed by the ATO of $3400, up to a maximum of $17000. Administrative penalties can also be imposed. Got your attention? so what is Super Stream? Its the ...Goverments way of improving the efficiency of the Australian Superannuation system. Put in non political terms. Its designed to ensure employers are paying there superannuation to there employees. In the most basic explanation of the system. Business's will have to report on their superannuation requirements and all super payments now have to go through a clearing house, where they are recorded as paid to the ATO. (The clearing house receives the payments marks it as paid and send it to the super fund) The ATO has setup its own free clearing house and some Super Funds have setup there own, although they may charge a fee for using it. You will need to investigate. If you have any queries please contact our office. Thanks Wayne

20.01.2022 Tax Time_Remember substantiation of work related expenses is the key to minimizing any audit inquiry made by the ATO on your claims. The ATO were advised in a recent inquiry that it needs to expand its work related expenses statistics for more work / job descriptions /occupations. If you fall outside the mean variation for you occupation then you will be a target by the ATO. Just because your workmate falsely claims work related expenses, doesn't mean he won't be called upon to substantiate his claims. Penalties from 25% to 75 % of the error can be added as well as interest on shortfall.

19.01.2022 Christmas Parties (IN JULY) & Gifts 2017 December 2015 For those with staff gifts/ parties on their mind (apply for Christmas as well)...Continue reading

17.01.2022 What an excellent time of year to live in the tropics. The sun is shinning bright most of the time and the temperature is still mild and enjoyable. The lions share of the individual tax returns are now done and we can start to really concentrate more on the business returns. Thanks to all our great clients for being so patient with us during the silly season of accounting. Kind regards Cairns Accounting Services

15.01.2022 Urber drivers.. One finer point of being an uber driver is Uber is not a business registered in Australia, and therefore does not lodge or pay taxes in Australia, AND therefore is not registered for GST. So you cannot claim any gst as part of the amount they retain from your fares. This has to be the cheapest way of exporting money from Australia. It surprises me the ATO / Treasury/ have allowed this to happen. You the driver must charge gst on the full fare- ATO happy,- and... you the driver cannot claim any gst back because Uber doesn't remit any to the ATO for its earnings- ATO Happy. Question is is Uber a person transport company or an exporter of currency? Enjoy the ride. See more

14.01.2022 It happens to us all. New Client called in and wanted his tax return done. Setup in two programs, download the ATO portal , prefill client's tax return. Go thru the return and get all claimable expenses, rebates, etc. He gets a refund of $480 odd. "How can i maximise my refund next year?" he asks. We go thru what works, etc. Then I print off the return, and he says" Don''t go any further, I'll lodge on MyGov." I did have the presence not to give him a copy of the return, but words failed to pass my lips. He is now objecting via email that I send him span in the form of an invoice raised, and outstanding amount. Gotta take whatever enjoyment you can when you can.

11.01.2022 Uber to be legalised in Queensland. Whats this mean from a tax point of view. Is it a great way to earn some extra "Cash" or is it a business and do you need to report the income? Well to answer this I should first mention that the ATO is requesting Ubers files for who has earnt income through the Uber system. So yes, Income from being an Uber driver will need to be declared. Can you claim expenses against that income? eg, Motor vehicle running costs? Yes of course, however ...we would highly recommend having an extensive log book, or a GPS tracking app. All motor vehicle expenses should be tallied and a percentage of the total determined from your log book claimed as business expenses. Similarly a log book of the use of mobile phones should also be created if you wish to claim phone use. We wish anyone wanting to take up this endeavor the best. See more

11.01.2022 Special thanks this month to Jessicka Wicks from Angelo's Hair Designers Mt Sheridan for not only being a great hairdresser and the wife of my son. But for designing our new logo. Thanks Jessicka.

06.01.2022 Employers - do you know that the penalty rates and new rates for awards in .Hospitality Industry . Restaurant Industry Award .General Retail Award Fast Food Industry... Pharmacy Industry Award Come into play as from 1/July 2017. Are you up to date and ready?? Fair Work Commission review of National Minimum Wage and base rates of pay will be mandatory in first full pay period after 1/7/17. Call if require assistance

02.01.2022 The ATO has informed us that they are upgrading from the ELS system they have been using to receive tax returns, to a system called SQL. This should occur approx 30/06/16. It will not affect most people, however there will be a shift by accountants onto new versions or different software for lodgement. When this occurs it will make lodging older tax returns harder to do. It may even become a specialty of some firms. In our circumstance we should be able to continue to lodge tax years 2014 onwards. We will most likely loose the ability to lodge anything earlier.

02.01.2022 Beware. Yesterday I receives three inquiries from people I know ( clients) and all had received telephone calls from the ATO (Tax Office). The common thread was the aggressive tone, and threats, a telephone number to return the call (02) 83107290 , one even gave an employee number and their name. The ATO will never contact you in this manner. There would be a ream of paperwork and personal contact before this happened. THIS IS A SCAM and designed for you to tell them all you...r personal information. The ATO would ask you for your Tax File Number, Full name and possibly a date of birth, BUT more importantly they would ask you to quote a reference number on previous correspondence. (Like on your Notice of Assessment there is a ref>) You have every right to demand the same from the person ringing you. Identity theift is the aim of the strategy. Do not devulge your Tax File number, or other personal information, and especially your bank account details, even if promised a massive refund. This is a case of the goose stealing your golden egg. If you have any doubts, tell them your tax agent will be in touch with the ATO and deal with this matter on your behalf. AND please tell me all possible information so we can pass this on to the appropriate authorities and ATO.