Carley Advisory in Frankston, Victoria | Local service

Carley Advisory

Locality: Frankston, Victoria

Phone: 9783 5899

Address: Suite 6A, ground floor, 395 Nepean Highway 3199 Frankston, VIC, Australia

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25.01.2022 The small business immediate deductibility threshold increase from $1,000 to $20,000, which was originally due to end at June 30, 2017, will now run until June end 2018.

25.01.2022 The Tax Office will listen and assist.

25.01.2022 For those small business owners who were going in to work tomorrow to count stock!!

24.01.2022 Given the ATO are looking at claims made by individuals these scenarios will be handy to understand prior to 30 June

19.01.2022 this would be practical

19.01.2022 Whilst not "exceptions" to the rule our tax act still needs more work

18.01.2022 Employers: Mark your calendar! Super guarantee payments are due to your employees by 28 October. As the date falls on a weekend this year, you have until the next business day to get it done. Find out more at www.ato.gov.au//Paying-super-contributio/When-to-pay-super

17.01.2022 Payroll Tax changes for 2017-2018 are worth a mention. $625,000 is the threshold for payments covered under the Act and the applicable rate is 4.85%. For regional Victorian employers the rate is 3.65%. The threshold will rise to $650,000 from I July 2018.

17.01.2022 Whilst this is an overriding commentary on an article it highlights an issue which has always been a concern....why do taxpayers not bother voicing their complaints with their local members of Parliament

15.01.2022 The importance of Trustees understanding their role in the current superannuation environment is reinforces by these tweaks to the rules

15.01.2022 Valuations , where not supported with appropriate paperwork will create additional costs for superannuation funds, and potentially jeopardize longer term viability of funds.

13.01.2022 A précis of the Victorian State Budget thanks to Grant Thornton

12.01.2022 Always a vexed topic for clients ... dealing with debit loan balances which cannot be resolved with dividends or additional wages.

12.01.2022 More tinkering....

11.01.2022 More overflow from the banking royal commission??

11.01.2022 A small attempt at balancing the shift of tax funds offshore ( once legislated)

09.01.2022 Worth a read as you work through the pre Christmas expenses.

09.01.2022 Contribution from Ed Chan to the current discussions on Super pre and post 30 June 2017

08.01.2022 Worth a read to determine whether your activity (letting of Property) is considered to be a form of investment rather than a business. Read in conjunction with Law Companion Ruling 2018/7 https://www.ato.gov.au/law/view/document

08.01.2022 We have noticed some clients continue to overlook this aspect of their annual obligations. Important to keep the appropriate records on the way through.

08.01.2022 Worth a look...

07.01.2022 Cryptocurrencies...where to start?

06.01.2022 Graduated in the fields of education, nursing or midwifery, maths or science? You may be able to claim the HECS-HELP benefit! Find out if youre eligible and submit your application before you lodge your tax return. Read more at https://ato.gov.au/BonusesBenefitsDiscounts

06.01.2022 Time to ensure the numbers for 2018/2019 are corrrect

05.01.2022 Following on from an article last year relating to truck driver daily rates this article covers some basic concepts for all taxpayers.

05.01.2022 Seems this will be relevant for some employees but check with workplace procedures first.

04.01.2022 Pre-fill for 2017...Portal information for Tax Agents...August will be the optimum period for the majority of pre-fill data.

04.01.2022 Worth a read if you are thinking of a dual occupancy scenario.

04.01.2022 DO you need any capital items?

04.01.2022 Worthy of a read.

03.01.2022 Unfortunately we are experiencing phone troubles and Telstra say they cannot get here until Friday so email is our main path of contact until then.

02.01.2022 Further tax considerations for incorporated entities.....

02.01.2022 The loss rules are relatively straight forward but the "integrity" issue should be discussed if you are planning out EOY matters and there is a potential claim.

01.01.2022 New approach for truck drivers to claim their meal expenses New approach for truck drivers to claim their meal expenses The ATO has today announced it has reinstated the meal-by-meal approach for truck drivers who claim travel expenses for meals, after consulting closely with industry. The meal amounts have been published in a revised Taxation Determination and provide separate amounts for each meal. The reasonable amounts are $24.25 for breakfast, $27.65 for lunch and $47.70... for dinner. The amount for each meal is separate and cant be combined into a single daily amount or moved from one meal to another. The ATO has been working with trucking industry representatives for several months, and have provided guidance materials on record-keeping for drivers. The ATO will continue consultation on an agreed approach for 2018/19 and future years with a view to establishing a daily rate to further simplify record-keeping requirements for drivers. The ATO reconfirmed they want all taxpayers to claim everything theyre entitled to; no more and no less. Its important to note the ATO does not limit the amount a taxpayer can claim when travelling away from home overnight for work. Drivers do not have to keep receipts for every meal if their claim is no more than the reasonable amounts that the Commissioner publishes each year. Drivers can only claim for amounts actually spent and not just the Commissioners reasonable amount. Should drivers be asked to explain their claims, records such as bank statements for purchases can be relied on to show how much was spent. The ATO will also ensure that any truck driver who has been using, or wishes to continue using the published previous daily amount of $55.30, could continue to do so and would not be disadvantaged. The ATO would like to thank the following industry groups for their feedback throughout the consultation process: Australian Road Transport Industrial Organisation directly and on behalf of its Branches National Road Transport Association Australian Trucking Association, representing and in consultation with all its member associations Victorian Transport Association Australian Livestock and Rural Transporters Association (ALRTA) Road Freight NSW Transport Workers Union For more information about deductions, visit ato.gov.au/truckdrivers. Join the discussion on claiming travel expenses at our ATO Community Ext See more

01.01.2022 Prosperum Wealth being proactive .....Mark Chapman has a wealth of experience when it comes to ATO related issues.