Corporate & Country Accounting in Canungra, Queensland | Accountant

Corporate & Country Accounting

Locality: Canungra, Queensland

Phone: +61 7 5515 7945

Address: Suite 3B, 40 Christie Street 4275 Canungra, QLD, Australia

Website: http://www.corporateandcountry.com.au

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25.01.2022 Would you like more flexibility with your superannuation but dont have the option to salary sacrifice? You can now claim a tax deduction on your personal contributions. SMSF expert Bob Locke explains. How much can you contribute? Under the current rules, the maximum amount of concessional superannuation contributions that can be claimed as a tax deduction is $25,000.00 per person per annum. This is referred to as the Concessional Contributions Cap. This amount includes a...ny super contributions paid by your employer; salary sacrifice contributions plus any other tax-deductible personal contributions you make to your super account. On the other hand a non-concessional contribution is a payment made to superannuation after tax. It can be from a range of sources such as an inheritance, additional payment from your after-tax salary, property sale etc. The usual cap on non-concessional contributions is $100,000 per financial year. Salary sacrifice vs PersonalContributions Until 30 June 2017, only the self-employed, retirees or those who earned less than 10% of their income as an employee, could claim a tax deduction on a personal contribution. This restriction meant that many employed individuals could not make deductible personal contributions to reduce their taxable incomes. The only way to maximize their total concessional contributions cap was to make arrangements with their employer for a salary sacrifice arrangement where they would reduce their gross salary in favour of the employer making a larger contribution (above the normal 9.5% of salary) to the employees super fund. Now theres an opportunity to give your super investment a boost and reduce your tax bill at the same time. With the changes effective from 1 July 2017, employees can make additional personal contributions and claim a tax deduction for the additional contributions, thus putting them on the same footing as self-employed people.

25.01.2022 Take advantage of small business concessions 9 June 2020 Check if your business can take advantage of these small business tax concessions before 30 June, including:... Immediate deductions for prepaid expenses if your turnover is less than $10 million and youve paid for expenses (such as rent, registration fees, insurance or advertising) before June 30 and these end in next financial year, you can claim them as deductions in this years tax return. Instant asset write-off you can claim an immediate deduction for the business portion of the cost of an asset in the year its first used or installed ready for use. Accelerated depreciation for primary producers if youre a primary producer, you can claim deductions for fodder storage assets, and fencing and water facilities. Simplified rules for trading stock if the estimated difference between your 201920 opening and closing trading stock is $5,000 or less, you dont need to do a stocktake. Just report the same amount for your opening and closing stock in your tax return. Deductions for professional expenses for start-ups if your turnover is less than $10 million, you may be able to claim certain start-up expenses (such as professional, legal and accounting advice, and government fees and charges) as deductions in this years tax return.

24.01.2022 Guests enjoy a stroll around the vineyard post ceremony at OReillys Canungra Valley Vineyards

23.01.2022 Soaking up that winter sunshine #winter #sun #topless #carriage #weddingcarriage #weddingtransport #horseandcarriage #horse #caballo #paard #pferd #equinephot...ography #workinghorse #carriagehorse #standardbred #canungra #scenicrim #queensland #australia #country #countrywedding #sonyalpha @katherineo_brien See more

23.01.2022 Finance Update and COVID-19 Hello everyone. I hope you are coping with all this information that we are being bombarded with lately. I thought it best to send out a couple of quick updates for you....Continue reading

22.01.2022 Ready for another winter wedding #weddingtransport #weddingcarriage #weddingphotography #wedding #event #carriage #horseandcarriage #horse #horsedrawncarriage... #standardbred #ottb #canungra #scenicrim #queensland #australia #goldcoast #scenicrimbride #country #countrywedding # #queensland #australia #pferd #paard #cheval #caballo @katherineo_brien See more

21.01.2022 SG Amnesty still pending The proposed superannuation guarantee (SG) amnesty is a one-off, 12-month opportunity to self-correct past non-compliance (i.e., from 24 May 2018 to 23 May 2019). It will apply to previously undeclared SG shortfalls for any period from 1 July 1992 up to 31 March 2018.... The carrot currently on the table is that employers who voluntarily disclose previously undeclared SG shortfalls during the amnesty (i.e., importantly, before the commencement of an ATO audit) will: not be liable for the administration component and penalties that may otherwise apply to late SG payments, and be able to claim a deduction for catch-up payments made during the relevant 12-month period. This means that employers will still be required to pay all employee entitlements, including any unpaid SG amounts owed to employees and the nominal interest, as well as any associated general interest charge. Employers who are not up-to-date with their SG payment obligations and who do not come forward during the proposed SG amnesty have been put on notice by the ATO that they may face higher penalties in the future. Editor: While the SG amnesty is being actively promoted by the ATO, it is important to be aware that the proposed concessions currently on the table are not guaranteed until the relevant legislation becomes law. Note that the Treasury Laws Amendment (2018 Superannuation Measures No.1) Bill 2018 will not be considered again at least until Parliament resumes on 10 September 2018.

20.01.2022 Its nearly that time of year again! To celebrate the New Financial Year we are offering a 10% discount to our clients who book in their Individual Tax Returns between the 1st & 14th July 2019! Dont pay $165.00 ... Get in early and pay only $148.50! Call our office today on 5543 5563 to book your appointment and take advantage of our early bird discount! **This offer is valid only on standard Income Tax Returns and does not include Rental Properties, Business Worksheets or Share Trading**

20.01.2022 The process of harnessing and hitching carriage horses is intricate and intrinsic to their performance #carriagehorse #carriage #harness #workinghorse #standar...dbred #ottb #extrotter #rescuehorse #bay #gelding #horse #horsephotography #horsesofinstagram #equine #equinephotography #equestrian #paard #pferd #cavallo #cheval #weddinghorse #weddingcarriage See more

20.01.2022 ATO announces short cut method for claiming home office running costs. The Australian Taxation Office (ATO) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for additional running expenses incurred (e.g.,additional heating, cooling and lighting costs), as a result of working from home due to the Coronavirus pandemic. Refer to the ATOs Media Release of 7 April 2020. Based on the announcement, the ATO will a...Continue reading

19.01.2022 Good news if you are wanting to build a new home or renovate an existing one! The Australian government has just announced a HomeBuilder scheme that will provide eligible owner-occupiers (including first home buyers) with a tax-free grant of $25,000 . To access this grant, owner-occupiers need to meet the following criteria: You are a natural person (not a company or trust); You are aged 18 years or older;... You are an Australian citizen; Your building contract is entered into between 4 June, 2020 and 31 December, 2020 You build a home as a principle place of residence where the house and land value does not exceed $750,000 OR you substantially renovate your existing principle place of residence and the renovation contract is between $150,000 and $750,000 and the value of your existing property does not exceed $1.5million Construction commences within three months of the contract date You meet one of the following two income caps: - $125,000 p.a. for an individual based on your 2018-19 tax return or later - $200,000 p.a. for a couple based on both 2018-19 tax returns or later To find out more, visit the Australian Government website: With interest rates at an all-time low, now is the perfect time to take advantage of this opportunity. Get in touch with me today to discuss your eligibility and I can help you with a competitive home loan. Information on when and how you will be able to access HomeBuilder will become available through the relevant State or Territory revenue office and once known will pass on. If you click on the link above you can register for information on the HomeBuilder grant. Kind regards, Ken Stephens KT Financial Services DIP FMB t. 07 5594 5545 m. 0434 263 677 f. 07 5594 5310 e. [email protected] w www.ktfs.com.au a. Suite 4, Level 3, Emerald Lakes Town Centre, 3027 The Boulevard, Carrara Qld 4211 p. PO Box 3188, Robina Town Centre Qld 4230 Credit Representative No. 371676 Interactive Mortgage & Finance Pty Ltd, ACN 130 407 073 Australian Credit Licence. 391922 NOTICE: This message and any attachments are confidential and may contain copyright material of KT Financial Services or a third party. It is intended solely for the purpose of the addressee and any other named recipient. If you are not the intended recipient, any use, distribution, disclosure or copying of this message is strictly prohibited. The confidentiality attached to this message is not waived or lost by reason of the mistaken transmission or delivery to any unintended party. If you have received this message in error, please notify the author immediately or contact KT Financial Services on +61 7 5502 2326. If you wish to unsubscribe to this email please reply Stop by return email.

19.01.2022 We cater for all sorts at corporate and country

18.01.2022 A huge thank you to Katherine Obrien Equine Photography and our lovely model Taylor Blay

18.01.2022 Good Mornin Yall.

17.01.2022 Would you like more flexibility with your superannuation but don’t have the option to salary sacrifice? You can now claim a tax deduction on your personal contributions. SMSF expert Bob Locke explains. How much can you contribute? Under the current rules, the maximum amount of concessional superannuation contributions that can be claimed as a tax deduction is $25,000.00 per person per annum. This is referred to as the Concessional Contributions Cap. This amount includes a...ny super contributions paid by your employer; salary sacrifice contributions plus any other tax-deductible personal contributions you make to your super account. On the other hand a non-concessional contribution is a payment made to superannuation after tax. It can be from a range of sources such as an inheritance, additional payment from your after-tax salary, property sale etc. The usual cap on non-concessional contributions is $100,000 per financial year. Salary sacrifice vs PersonalContributions Until 30 June 2017, only the self-employed, retirees or those who earned less than 10% of their income as an employee, could claim a tax deduction on a personal contribution. This restriction meant that many employed individuals could not make deductible personal contributions to reduce their taxable incomes. The only way to maximize their total concessional contributions cap was to make arrangements with their employer for a salary sacrifice arrangement where they would reduce their gross salary in favour of the employer making a larger contribution (above the normal 9.5% of salary) to the employee’s super fund. Now there’s an opportunity to give your super investment a boost and reduce your tax bill at the same time. With the changes effective from 1 July 2017, employees can make additional personal contributions and claim a tax deduction for the additional contributions, thus putting them on the same footing as self-employed people.

17.01.2022 f youve purchased or are planning to purchase assets for your business, you may be eligible to claim an immediate deduction under the instant asset write-off expansion. From 12 March to 30 June 2020 (inclusive), the instant asset write-off threshold for each asset increased to $150,000 (from $30,000). To get it right, remember:... check if youre an eligible business both new and second-hand assets can be claimed, provided each asset costs less than $150,000 assets must be first used or installed ready for use between 12 March and 30 June 2020 a car limit applies to passenger vehicles. The limit is $57,581 for the 201920 income tax year if your asset is for business and private use, you can only claim the business portion you can claim a deduction for the balance of your small business pool if its less than $150,000 at 30 June 2020 (before applying depreciation deductions) different eligibility criteria and thresholds apply to assets first used, or installed ready for use, prior to 12 March 2020. Remember, registered tax agents can help you with your tax.

16.01.2022 WE ARE MOVING We are relocating to 868 LAMINGTON NATIONAL PARK ROAD CANUNGRA Qld 4275. Which is approx 7 min away from our current office. We are currently undertaking renovations of our new office but it will still be business as usual in the mean time... . Our contact numbers and postal address remains the same. We understand this may inconvenience some clients due to the extra travel to our new locations, however we have put the following in place to accommodate to all. - Our new portal system allows easy documentation uploads and download and allows for documents to be signed electronically. - We will be extending our hours to 7.30am to 7.30Pm - We will meet clients in town for appointment if necessary. However we are able to consult with clients at the new premises while renovations are taking place. - We will be organising a lock box in town to enable clients to drop off any hard copies of documents etc. Once renovations are complete, we will have a grand opening and afterward have a wine at OReillys Winery next door. If you have any issues or concerns, please do not hesitate to contact us.

15.01.2022 Rain on your wedding day is supposedly good luck. Luckily weve got you covered with our Polish carriage canopy #winterwedding #weddingcarriage #weddingtranspor...t #weddingdress #weddingphotography #wedding #carriage #horseandcarriage #weddinghorse #horse #standardbred #scenicrim #scenicrimbride #canungra #goldcoast #goldcoastwedding #brisbanewedding #queensland #australia #vineyard #winery #photography #sonyalpha @katherineo_brien See more

15.01.2022 f you've purchased or are planning to purchase assets for your business, you may be eligible to claim an immediate deduction under the instant asset write-off expansion. From 12 March to 30 June 2020 (inclusive), the instant asset write-off threshold for each asset increased to $150,000 (from $30,000). To get it right, remember:... check if you're an eligible business both new and second-hand assets can be claimed, provided each asset costs less than $150,000 assets must be first used or installed ready for use between 12 March and 30 June 2020 a car limit applies to passenger vehicles. The limit is $57,581 for the 201920 income tax year if your asset is for business and private use, you can only claim the business portion you can claim a deduction for the balance of your small business pool if it's less than $150,000 at 30 June 2020 (before applying depreciation deductions) different eligibility criteria and thresholds apply to assets first used, or installed ready for use, prior to 12 March 2020. Remember, registered tax agents can help you with your tax.

14.01.2022 The Stimulus Package: What You Need To Know The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy....Continue reading

13.01.2022 First wedding was a great success, our formal carriage outfits hadnt arrived in time, but we still managed to look great. The Horses and Carriage looked so im...pressive!. The guests loved being taken for a ride and the kids really enjoyed the horses. It was smiles all round. The horses Tony and Leo were fantastic and stood patiently, soaking in the attention. A big thank you everyone who helped out on the day including Debbie Foster who was a fantastic Stewart and of course Katherine OBrien Equine Photography. Keep us in mind for other celebrations or corporate events as the guests really loved the experience! See more

13.01.2022 JOB KEEPER PAYMENTS The legislation has now been approved, but yet to be released. If you require some guidance regarding the Job Keeper payments, please contact our office to discuss on 55 157 945 or email [email protected].

12.01.2022 Terrific Photo !

11.01.2022 From 1 July 2020 the following car threshold amounts apply. Income tax Theres an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel drives). You use the car limit that applies to the year you first use or lease the car. The car limit for 202021 is $59,136.... Goods and services tax (GST) Generally, if you purchase a car and the price is more than the car limit, the maximum amount of GST credit you can claim is one-eleventh of the car limit amount. You cant claim a GST credit for any luxury car tax you pay when you purchase a luxury car, regardless of how much you use the car in carrying on your business. Luxury car tax (LCT) From 1 July 2020 the LCT threshold will increase to $ $68,740. The LCT threshold for fuel efficient cars will increase to $77,565 for the 202021 financial year. Remember, the LCT value of a car generally includes, the value of any parts, accessories or attachments supplied or imported at the same time as the car.

10.01.2022 From 1 July 2020 the following car threshold amounts apply. Income tax There's an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel drives). You use the car limit that applies to the year you first use or lease the car. The car limit for 202021 is $59,136.... Goods and services tax (GST) Generally, if you purchase a car and the price is more than the car limit, the maximum amount of GST credit you can claim is one-eleventh of the car limit amount. You can't claim a GST credit for any luxury car tax you pay when you purchase a luxury car, regardless of how much you use the car in carrying on your business. Luxury car tax (LCT) From 1 July 2020 the LCT threshold will increase to $ $68,740. The LCT threshold for fuel efficient cars will increase to $77,565 for the 202021 financial year. Remember, the LCT value of a car generally includes, the value of any parts, accessories or attachments supplied or imported at the same time as the car.

09.01.2022 Our Cottage is now available for holiday rental. Private and Fully self contained with great entertainment area, including BBQ, Pizza Oven and Fire Pit Stay a... Night or stay a couple of weeks. Only 200 meters from OReillys Winery and Mount view Alpaca Farm. Not far from Lamington National Park. $250.00 for one night or $380.00 for two nights. Weekly rates are discounted at 15% - 20%. Coffee Tea etc included. Packages also available including Alpaca feeding and walks, Breakfast or lunch at OReillys, Horse and Carriage Rides, Wine or other tours in a 1950 Jaguar. Lead line Pony Rides and more. Photos of the kitchen and outdoor area to come.

09.01.2022 Crowdfunding donations to help drought-affected farmers Editor: The ATO is currently offering various support measures to individuals and businesses from drought-affected communities to help with managing their tax and super obligations or who are struggling with their mental health. It has also recently provided a summary of the potential tax impact of making donations to, or raising funds via a crowdfunding platform for drought relief (as outlined below). For taxpayers wi...shing to make a contribution to a drought relief fund, it is important to be aware of the tax implications associated with making such donations. For example, donations of $2 or more to an organisation that is a deductible gift recipient will be tax deductible. To check to see if a particular appeal is a registered charity, the ATO has advised that taxpayers should use the ABN lookup function on the Australian Business Register website before donating. For those looking to raise funds through crowdfunding platforms to assist their farming business, payments received from the crowdfunding platforms may be assessable income, depending upon how the funds are used. For example: Where the funds are used for emergency relief (i.e., such as food and clothing), then the amounts are not assessable. Where the funds are spent on deductible expenses (i.e., such as purchasing feed for livestock), the amount is assessable income, but will be offset by the relevant deductions obtained, ensuing there is no net taxable outcome. See more

09.01.2022 Want something totally lavish for your wedding photography scene setting? #weddingcarriage #weddingtransport #weddingdress #weddingphotography #wedding #carriag...e #horseandcarriage #weddinghorse #horse #standardbred #scenicrim #scenicrimbride #canungra #goldcoast #paard #pferd #caballo #bride #goldcoastwedding #brisbanewedding #queensland #australia #vineyard #winery #photography #sonyalpha @katherineo_brien See more

08.01.2022 The new office member isnt very productive

07.01.2022 Minimus practicing. How gorgeous the flowers girls can arrive in their own mini Sulky. Driver provided or course. with the Bride arriving in one of our gorgeous carriages.

06.01.2022 The most handsome chauffeurs on your big day, Leo and Tony, our gorgeous matched pair #weddingcarriage #weddingtransport #weddingdress #weddingphotography #wedd...ing #carriage #horseandcarriage #weddinghorse #horse #standardbred #scenicrim #scenicrimbride #canungra #goldcoast #goldcoastwedding #brisbanewedding #queensland #australia #vineyard #winery #photography #sonyalpha Katherine OBrian Equine Photography See more

06.01.2022 Suns out, tops off! Soaking up the autumn rays with our canopy off #topless #carriage #weddingcarriage #weddingtransport #horseandcarriage #horse #caballo #p...aard #pferd #equinephotography #workinghorse #carriagehorse #standardbred #canungra #scenicrim #queensland #australia #country #countrywedding @katherineo_brien See more

05.01.2022 POWER, PHONE AND INTERNET OUTAGE! Dear Clients, Our power is out at the office and with this means we have no internet or office phones! Energex has informed us that the power will be back on by 3pm today.... If there is anything urgent please contact Chris on her mobile 0413 724 638. We apologise for any inconvenience caused.

04.01.2022 Kids just love spending time exploring the vineyard grounds with the cuddly Alpacas from Mountview Alpaca Farm - it makes the perfect day out! Open everyday du...ring the school holidays. : Scenic Horse & Carriage Co #canungravalleyvineyards #seeaustralia #thisisqueensland #wearegoldcoast #scenicrim #visitbrisbane #queensland #discoveripswich #canungracreek #discovernorthernnsw #thetweed #canungralife #wine #wines #picnics #canungravalley #discoverbrisbane #goldcoast #brisbane #alpaca #alpacaselfie #alpacas

02.01.2022 SMEs to receive rent waivers, deferrals Small and medium businesses will now be granted rental waivers and deferrals under a mandatory Code of Conduct unveiled by Prime Minister Scott Morrison Under the Code of Conduct, landlords will be required to reduce rent proportionate to the trading reduction in the tenants business caused by the coronavirus pandemic through a combination of waivers of rent and deferrals of rents.... Landlords must offer waivers of rent no less than 50 per cent, while the balance must be in the form of a rental deferral. The payment of the rental deferrals must be amortised over the balance of the lease term and for a period of no less than 24 months. The code will cover commercial tenancies, including retail, office and industrial, and will be eligible for SME tenants with an annual turnover of up to $50 million. These SME tenants must also qualify for the governments JobKeeper program.The code will come into effect in all states and territories from 3 April and will run for the period the JobKeeper program remains operational. Mr Morrison said the arrangements would be overseen through a binding mediation process run by the states and territories. The point here is simple: its the same request we made of landlords and tenants about 10 days or so ago when I stood up on this issue, and that is that they sit down and they work it out, Mr Morrison said. Landlords must not terminate the lease or draw on a tenants security. Likewise, tenants must honour the lease. What this does is it preserves the lease, it preserves the relationship, it keeps the tenant in their property and it keeps a tenant on the lease, which is also good for the landlord, and it preserves the lease that is in place that underpins the value of those assets. This is seen as a proactive, a constructive and co-operative mechanism for landlords and tenants to see this through together. Extract Accountants Daily Email our office if you would like a full copy of the Code of Conduct. [email protected]

01.01.2022 Great Article in the news today The $1 or 50 cent rule you need to know to avoid being taken to the cleaners this tax time MANY of us are taking advantage of this cheeky tax trick, but if you want to avoid a whopping fine, you need to read ...Continue reading