Deanne Thomas & Co in Frankston, Victoria | Tax preparation service

Deanne Thomas & Co

Locality: Frankston, Victoria

Phone: +61 3 9783 4542

Address: Suite 15, 395 Nepean Highway 3199 Frankston, VIC, Australia

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

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20.01.2022 Super changes are coming! The 2016 Federal Budget included a number of amendments to the exisiting superannuation system. Make sure you understand how these changes could affect you! Applicable to Everyone........ From July 1 2017 - The exisiting annual non-concessional contribution cap will be reduced from $180,000 to $100,000. - The concessional (pre-tax) contribution cap will be reduced to $25,000 a year for everyone, down from $35,000 for people aged 50 and over, and $30,000 for people under 50. If you're a low income earner..... From July 1 2017 - People earning up to $37,000 per year will receive an automatic Low Income Superannuation Tax Offset capped at $500 per year. - All people aged under 75 will be able to claim a tax deduction for non-concessional (post-tax) super contributions. - The income threshold for the spouse superannuation tax offset will be increased to $37,000 per year. If you're a high income earner..... From July 1 2017 - An increased tax rate of 30% on concessional super contributions will be paid by people earning $250,000 and over per year. If you're nearing or in retirement..... From July 1 2017 - There will be a $1.6 million cap on the total amount of superannuation that can be transferred to a tax-free superannuation pension account. - A concessional (pre-tax) rate of 15% will apply to investment earnings of transition to retirement pensions (previously tax-free). Don't forget about the Age Pension! - As of January 2017, the Federal Government introduced changes to the Aged Pension assets test. Effectively, asset thresholds have been increased for the full pension and decreased for the part pension. The means some people may receive higher Age Pension payments, some may receive lower payments and others may now be ineligible for the Age Pension. Act NOW to take advantage of today's rules..... Today's super rules apply until June 30, 2017 - so you still have time to act before the end of the financial year. Taking advantge of current rules could include making extra super contributions before June 30, 2017. We're here to help! For answers, advice or information about your super, contact us today. T: 9783 4542 E: [email protected] W: www.deannethomas.com.au

18.01.2022 Deanne Thomas & Co is pleased to announce the opening of our Melbourne branch. Located right in the heart of the city at 552 Lonsdale Street. We hope the Melbourne branch will provide a convienient alternative for our Melbourne region clients. We look forward to seeing you there in the new year.

16.01.2022 It is unusual to directly receive correspondence from either ASIC or ATO if you do, please contact our office to ensure that it is not scam and remember never to provide personal details over the phone or by email.

11.01.2022 HAPPY NEW FINANCIAL YEAR from the Team at Deanne Thomas & Co! Here are some handy EOFY Resolutions to consider..... 1. Draw up a budget for the new Financial Year. Your budget needs to align with your strategic plan so you can allocate resources to achieve your plan's objective. If the budget shows that an objective is not affordable, you may need to seek more resources (ie: borrow), or modify your plan.... 2. Prepare a cashflow forecast. One of the most significant problems a small business can face is a poor cashflow. A cashflow forecast is a fundamental part of good business practice. Ensure that your cashflow forecast aligns with your budget. 3. Review your business profitability: - compare this years results to previous years - compare to similar businesses in your industry (we can provide Industry Benchmarking) - check staff productivity and product margins - review input costs 4. Review your risk management strategies. Whether your business is facing good times or bad, it is important to always have appropriate risk management strategies in place. Important risks to be aware of and manage include: - relying too heavily on a small number of major customers - relying too heavily on one supplier: identify potential alternative suppliers - selling on credit: subject potential customers to credit checks, limiting the amount credit that a customer can have, following up on payment before the due date and not supplying the customers of they pay late - fraud: have internal controls in high-risk areas, eg: cash handling, and making sure those internal controls are enforced and breaches are acted upon promptly. Contact us to make an appointment, we look forward to meeting with you soon!

10.01.2022 Looking for a new Accountant? For a limited time, we are offering new business clients a FREE 12 month subscription to MYOB AccountRight Plus, valued at $1,100! Contact us for more information today on 9783 4542 to make an appointment. To our valued existing clients, we haven't forgotten about you! Contact our office to find out how this offer can benefit you!

09.01.2022 Tax Time Again! Deanne Thomas & Co can help you gain the best tax outcome. Call or email us today!

05.01.2022 Check out this handy article from the ABC for all your 2017 Budget winners & losers....

01.01.2022 Budget 2017-18 has been released. Access the Budget papers at http://budget.gov.au The measures announced as part of Budget 2017-18 are subject to receiving roy...al assent and are therefore not yet law. While we sometimes provide input on tax and superannuation policies, the Australian Government is responsible for the legislation which we then administer on their behalf. Learn more at https://ato.gov.au/newlegislation