GK Plus Co Accountants in Revesby, New South Wales, Australia | Business consultant

GK Plus Co Accountants

Locality: Revesby, New South Wales, Australia

Phone: +61 2 9772 1112

Address: Suite 10 4-10 Selems Parade 2212 Revesby, NSW, Australia

Website: http://gkplusco.com.au

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• Tax preparation service
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23.01.2022 Strange Tax Facts - Playing cards were taxed as early as the 16th century, but in 1710, the English government dramatically raised taxes on playing cards and dice. This led to widespread forgeries of playing cards to avoid paying taxes. The tax was not removed until 1960.

23.01.2022 Some important DOs when winding up your SMSF - notify the tax office within 28 days, deal with member benefits, arrange a final audit of your fund, and complete reporting responsibilities. For more info on SMSFs, contact our office today on 9772 1112.

22.01.2022 We would like to remind all of our clients that phone-scams are very common around tax time, with people impersonating ATO employees in an attempt to steal personal information. Please be aware that the ATO will never call, email, or SMS asking for credit card or bank account details to issue a refund - https://www.ato.gov.au//Your-pract/Beware-of-phone-scams/

21.01.2022 What an awesome team we have.....best effort today Julie Gollan and team

19.01.2022 A reminder that today is the due date for lodging and paying August 2015 monthly activity statements. For assistance, please contact our office on 9772 1112.

18.01.2022 Some important DON’T's when winding up your SMSF - don't cancel the fund's ABN, don’t walk away completely, don’t dispose of any paperwork, and don’t close the bank account until all obligations are met, including reporting and lodging. For more info on SMSF's, contact our office today on 9772 1112.

18.01.2022 If instead of giving gifts or covering the bar tab at the office Christmas party this year, you'd rather hand out cash bonuses to thank your employees for their hard work during the year, it is important to remember that this payment is treated in the same way as salary and wages. PAYG withholding, super guarentee and payroll tax obligations will be triggered. The ATO will treat this bonus as ordinary time earnings.

17.01.2022 Dont forget, tomorrow is the final day to lodge your individual tax return for 2014-15 Financial Year. If you are having any issues in lodging, give our office a call today on 9772 1112.

17.01.2022 A reminder that today is the due date for lodging and paying your October 2015 monthly activity statements.

17.01.2022 Strange Tax Facts - In Ancient Egypt, cooking oil was taxed, and on top of that, people had to buy their taxed cooking oil from the Pharaohs monopoly, and were prohibited from reusing previously purchased oil.

16.01.2022 Some important DONTs when winding up your SMSF - dont cancel the funds ABN, dont walk away completely, dont dispose of any paperwork, and dont close the bank account until all obligations are met, including reporting and lodging. For more info on SMSFs, contact our office today on 9772 1112.

16.01.2022 Under Single Touch Payroll, employers accounting software will automatically report payroll information to the ATO when employees are paid. This will eliminate the need for employers to report employee-related Pay As You Go Withholding (PAYGW) in their activity statements throughout the year, and employee payment summaries at the end of the year.

15.01.2022 Strange Tax Facts - In 1712, England imposed a tax on printed wallpaper. Builders avoided the tax by hanging plain wallpaper and then painting patterns on the walls.

15.01.2022 If instead of giving gifts or covering the bar tab at the office Christmas party this year, youd rather hand out cash bonuses to thank your employees for their hard work during the year, it is important to remember that this payment is treated in the same way as salary and wages. PAYG withholding, super guarentee and payroll tax obligations will be triggered. The ATO will treat this bonus as ordinary time earnings.

15.01.2022 Did you know, providing morning and afternoon teas and light refreshments to employees (or their associates) at the employers business premises or worksite is tax-deductible to the employer. The same applies if the business provides such refreshments to visitors. The ATO has ruled that this is not entertainment. If the business has no employees, (e.g. a partnership), claims for light refreshments are not allowed unless they are also provided to visitors.

15.01.2022 Tomorrow is your last chance to register for our Self Managed Super For A Secure Future Workshop! Come along and network with other local business owners and learn from the experts in devising effective strategies for your SMSF. Register today! https://www.eventbrite.com.au/e/the-success-workshop-series

15.01.2022 The ATO has advised that it will have an increased focus on rental property deductions this Tax Time. It says that it will be paying closer attention to excessive deductions claimed for holiday homes in 2015, and will also be actively educating rental property owners about what they can and cannot claim. For further assistance, please call our office on 9772 1112.

14.01.2022 In relation to 2014/15 individual income tax returns to be lodged this year, the ATO says it will be focusing on unusually high work-related expense claims across all industries and occupations, expenses claimed that have already been reimbursed by employers, and claims for private expenses such as travel from home to work. For further assistance, please call our office on 9772 1112.

12.01.2022 The concept of the going concern exemption for GST purposes can still cause confusion when businesses are sold, despite the fact that this exemption has been in place for many years. A going concern refers to an enterprises ability to continue trading, with the sale of that business generally eligible to be GST-free if the enterprise is deemed as such. For further information and assistance, contact our office on 9772 1112.

11.01.2022 Need help with your tax return? GK Plus Co Accountants have you covered. For all things tax related, give our office a call today on 9772 1112.

11.01.2022 The ATO has revealed it has undertaken the task of matching income declared on business tax returns against debit and credit card records that have been generated by certain banks and financial institutions during the 2014-15 financial year. Contact our office if you wish to understand more about the ATOs recent data matching activities.

10.01.2022 Today is the due date for lodging and paying your Quarterly Activity Statements for Q1 2015 - 16. For any assistance, please call our office in 9772 1112.

09.01.2022 On Wednesday we will be holding our final FREE workshop in our Success Series. Come along and learn all about Self-Managed Super for a Secure Future, whilst networking with other local business owners, and enjoying a free lunch. Register today! https://www.eventbrite.com.au/e/the-success-workshop-series

08.01.2022 Under the superannuation rules, there is scope to access some of your retirement savings in your super fund under an arrangement called transition to retirement (TTR). Under this arrangement, a super fund member can ease into retirement by reducing their working hours without reducing their income. For assistance in managing your Super, contact our office on 9772 1112.

07.01.2022 Tomorrow is the last day to RSVP to our free workshop on Wednesday, ensure you dont miss out on learning how to effectively use sales and marketing in your small business! https://www.eventbrite.com.au/e/the-success-workshop-series

06.01.2022 Some great savings tips for all ages! http://www.news.com.au//n/7a09206475e546a23983c39fd2cf5515

06.01.2022 A common question about the Capital Gains Tax: Question - I jointly own an investment rental property with my elderly mother. Neither of us has ever lived in the property. Weve recently updated our wills. The lawyer says that if Mums will gifts her half of the property to me then this gift will not attract capital gains tax. Is this correct? Answer - "If you inherit your mothers share of the property, there would generally be no tax liability until you sell the p...roperty. What is important here is how the CGT is calculated when you ultimately sell. When the rental property transfers to you from your mothers estate, the tax rules determine how CGT is calculated when you eventually sell. Basically, if the property was bought on or after 20 September 1985 then when you sell the property your taxable profit will be based on the original purchase price. That is, you will end up being taxed on the increase in value of the property since it was acquired; including the portion that accrued while your mother was still alive." See more

05.01.2022 Some important DO's when winding up your SMSF - notify the tax office within 28 days, deal with member benefits, arrange a final audit of your fund, and complete reporting responsibilities. For more info on SMSF's, contact our office today on 9772 1112.

04.01.2022 There is just over a month left to lodge your 2014-15 Tax Return If you still havent lodged, or need any assistance, please contact our office on 9772 1112.

04.01.2022 The ATO has found some landlords may not be entirely sure about whether they are correctly claiming their rental property deductions. Some common errors include - claiming rental deductions for properties not genuinely available for rent; incorrectly claiming deductions for properties only available for rent part of the year; incorrectly claiming structural improvement costs when they are actually capital works deductions (e.g. remodelling a bathroom); and overstating deduction claims for the interest on loans taken out to purchase, renovate or maintain a rental property. If you require any help with claiming the correct deductions for your rental properties, contact our office today!

04.01.2022 Today is the due date for lodgement and payment of September 2015 monthly activity statements. For assistance, please call our office on 9772 1112.

04.01.2022 With tax time 2015 now in full swing, the ATO has flagged that it will pay particular attention to work-related expenses, an area it says adds up to $19.5 billion in tax deductions each year. For assistance in legally minimising your tax, contact our office today on 9772 1112.

03.01.2022 Strange Tax Facts - In 1696, England implemented a window tax, taxing houses based on the number of windows they had. That led to many houses having very few windows in order to avoid paying the tax. Eventually this became a health problem and ultimately led to the taxs repeal in 1851.

02.01.2022 Your SMSFs trust deed is its rulebook. If the deed does not allow or recognise something, then the trustees cant do it. Despite this, a lot of trustees are unaware of what their trust deed says it was just something that was required when the fund was established. The problem with any document is that unless you amend it, it is only current for the circumstances that existed at that time. However, the law changes regularly and so do individual circumstances. Be sure that you fully understand exactly what your trust deed details what you can and cannot do. For any assistance with your SMSF, contact our office on 9772 1112.

02.01.2022 The ATO has advised that it will be using SMS and emails for promotional and informational purposes. If individuals taxpayers receive an SMS or email claiming to be from the AT), they can check the website to verify that it is genuine. However, ATO messages will never ask for reply by SMS/email to provide personal info.

02.01.2022 Less than 2 weeks to go until our final free workshop in our Success Series! Come along on Wed October 14th to learn how to set up a Self Managed Super Fund for a successful retirement. Well even buy you lunch! Register today as places are strictly limited - https://www.eventbrite.com.au/e/the-success-workshop-series

01.01.2022 Our next free workshop is going to be focusing on Self Managed Super For A Secure Future - the perfect opportunity for you to learn the ins and outs of growing and managing your own SMSF. Spots are limited so register today! https://www.eventbrite.com.au/e/the-success-workshop-series

01.01.2022 A reminder about R&D government grant for SMEs - If youre operating your business as a company and the company spent more than $20,000 on R&D in the year ended 30th June 2015 and you wish to claim the Research and Development Tax Incentive, the company has to register with AusIndustry by 30th April 2016 or the date of the lodgement of the companys income tax return whichever is earlier. For any assistance, call our office on 9772 1112.

01.01.2022 SMSFs are the fastest growing fund type in Australia. This is because Self Managed Super gives you greater flexibility and control over your savings. Our final complimentary Success Workshop will provide you with all the info you need to know on SMSFs. Register today! https://www.eventbrite.com.au/e/the-success-workshop-series

01.01.2022 Did you know According to the ATO, pre-judgement interest received as part of a lump-sum payment for personal injury is generally not assessable because it is a capital receipt. Post-judgement interest however, can be assessable. For further assistance, please contact our office, 9772 1112.