Integral Accounting Services in Adelaide, South Australia | Accountant

Integral Accounting Services

Locality: Adelaide, South Australia

Phone: +61 8 7009 4567

Address: level 1 266-268 Payneham Road, Payneham 5070 Adelaide, SA, Australia

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

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• Tax preparation service
• Accountant
• Financial service
• Financial planner

24.01.2022 You may be eligible for the government superannuation co-contribution if: you make an eligible personal superannuation contribution to a qualifying superannuation fund during the financial year, an eligible personal superannuation contribution is a non-concessional (after tax) contribution made to a superannuation fund. It does not include contributions that attract an income tax deduction. Other exclusions apply such as transfers from foreign superannuation funds and roll-overs. #seebeyondthenumbers

24.01.2022 A company is a separate legal entity to the people who run it. The company lodges its own tax return as well as paying tax on profits at the rate of 27.5% where the turnover is less than $10m. Profit is given as franked dividends to shareholders. #seebeyondthenumbers

24.01.2022 You’re required to submit a tax return if you fit the following: Most resident individuals whose total assessable income exceeds the $18,200 tax-free threshold for the income year A taxpayer who last year paid Pay As You Go Instalment Tax irrespective of income (if you wish to recover the tax) Every individual carrying on a business regardless of income or loss... A resident taxpayer earning less than $18,200 who’s had tax withheld from that income A taxpayer who’s been asked to submit a return by the Commissioner. A full tax return is required even if there’s no assessable income to report A resident minor (under 18 on 30 June) who received income from dividends or distributions greater than $416 and franking credits were attached or tax was withheld. #seebeyondthenumbers See more

23.01.2022 If you earn an income and its above the relevant income threshold and you dont have private health insurance for the entire year then the surcharge needs to be paid. The surcharge depends on whether you are single or have dependents. Singles: $90,000 or less (0%) $90,001-$105,000 (1%) $105,001-$140,000 (1.25%) $140,001 or more (1.50%) Families: $180,000 or less (0%) $180,001-$210,000 (1%) $210,001-$280,000 (1.25%) $280,001 or more (1.50%)... #seebeyondthenumbers See more

23.01.2022 Check what you are and what youre not covered for in your health insurance. Look into what level of cover you need. If you plan to claim private health insurance premium as a tax offset make sure the health insurer you are with covers you for the level you require. #seebeyondthenumbers

23.01.2022 Youre required to submit a tax return if you fit the following: Most resident individuals whose total assessable income exceeds the $18,200 tax-free threshold for the income year A taxpayer who last year paid Pay As You Go Instalment Tax irrespective of income (if you wish to recover the tax) Every individual carrying on a business regardless of income or loss... A resident taxpayer earning less than $18,200 whos had tax withheld from that income A taxpayer whos been asked to submit a return by the Commissioner. A full tax return is required even if theres no assessable income to report A resident minor (under 18 on 30 June) who received income from dividends or distributions greater than $416 and franking credits were attached or tax was withheld. #seebeyondthenumbers See more

23.01.2022 Have you been getting calls from people claiming to be from the ATO asking you to pay a debt you didnt even know existed and then continue to ask for your personal information? How do you know if it's a scam or not? 1. Ask for the persons full name and the extension number they are calling from 2. The team leaders full name and extension number... 3. Verify the caller by calling the ATO on 1800 008 540 #seebeyondthenumbers See more

21.01.2022 If you have forgotten to include something or your tax return amount doesnt add up, the ATO gives you two years from the date of your assessment to lodge any amendments. We can help you with this! #seebeyondthenumbers

21.01.2022 To avoid incurring a lifetime health cover loading (LHC), you need to hold an appropriate level of private patient hospital cover before you reach your LHC base day. Typically, thats the 1 July following your 31st birthday. So, if you turn 31 on 28 February, your LHC base day will be 1 July of that year. Make sure you have private health cover by that date to avoid the LHC loading. Each year, an extra 2% is added to your hospital cover premium. #seebeyondthenumbers

21.01.2022 You may be entitled to a tax offset if you maintained an invalid who was your: spouse child aged 16 years or older sibling aged 16 years or older spouse's child aged 16 years or older... and they must have received one of the following: a disability support pension under the Social Security Act 1991 a special needs disability support pension under the Social Security Act 1991. #seebeyondthenumbers

20.01.2022 Did you know that the ATO collects data from a range of industries and it's not just for the online tax pre-fill option. The information gathered is put together and it is used for the publication of taxation statistics. #seebeyondthenumbers

20.01.2022 Check what you are and what you’re not covered for in your health insurance. Look into what level of cover you need. If you plan to claim private health insurance premium as a tax offset make sure the health insurer you are with covers you for the level you require. #seebeyondthenumbers

19.01.2022 Pay off the credit card or loan Rainy day emergency funds Put it into your superannuation fund Buy shares Donate to a charity... Invest in your own personal growth #seebeyondthenumbers See more

19.01.2022 A genuine redundancy payment is a payment made as a result of your dismissal from your job because the job you were doing has been abolished. Such payments are tax-free up to certain limits and might include: payment in lieu of notice... severance payment of a number of weeks pay for each year of service a gratuity or golden handshake #seebeyondthenumbers See more

19.01.2022 When you visit and work in Australia, your employer may be required to make super contributions to a super fund on your behalf. When you leave Australia, you may be eligible to claim that super back as a departing Australia superannuation payment (DASP). There are requirements you will need to meet to claim your DASP. Your DASP is taxed before you receive it. The DASP tax rate is different for working holiday makers (WHM). If you hold (or held) a 417 (Working Holiday) or 462 (Work and Holiday) visa you are classified as a WHM. #seebeyondthenumbers

18.01.2022 Having trouble accessing Government funding and been directly affected by COVID-19? The team at Integral Accounting Services and Loans Combined can help! Please see below ways in which we can assist both individuals and businesses Australia wide to access the entitlements they deserve. As part of our assistance we will directly handle and coordinate all work involved within each unique process. Individuals: ... - access your superfund early - apply for Centrelink and receive the COVID-19 supplement of $550 per fortnight - apply for Centrelink and receive 2x $750 tax free payments - pause your mortgage and/or apply for hardship with your bank Businesses: - help secure repayment free loans up to $250,000 - help secure up to $50,000 payment from Government Stimulus (from April onwards) - claim up to $21,000 if you employee an apprentice or trainee - access your super early - pause business loan repayments Contact Details: Adrian Signore 0401 530 415 Email [email protected] David Signore 0435 586 196 Email [email protected] Office (08) 7009 4565

17.01.2022 Most common things people forget to claim, or incorrectly claim as a tax deduction. If youve only dropped some spare change in a bucket at a convenience store counter, youre probably not eligible to claim this as a tax deduction. However, if you are one of the many who make regular contributions to a charity every month, you may be eligible to claim something back at tax time. There are just a few things you need to check before claiming a gift or donation. If your co...ntribution meets the below conditions, you're most likely eligible to claim it as a tax deduction: Does the organisation have DGR (Deductible Gift Recipient) status? Is the gift truly a gift and not something you receive material benefit or advantage for? #seebeyondthenumbers See more

17.01.2022 The first $18 200 of income earned by an Australian resident tax payer are tax free. This means: $350 a week $700 a fortnight $1517 a month... #seebeyondthenumbers See more

16.01.2022 - All your documents should be gathered in one place - Ensure to list all expenses that are related to your work - Claim depreciation... - Maximising deductions for your motor vehicle for work related travel - Gains and losses from cryptocurrencies - Using a tax agent puts you in the hands of an expert #seebeyondthenumbers See more

16.01.2022 The annual vacancy fee applies to foreign owners of residential property where the dwelling is not residentially occupied or genuinely available on the rental market for at least six months per year under an agreement(s) with a term of at least 30 days. The ATO will assess the annual vacancy fee amount that is payable following lodgement of the annual vacancy fee return by the foreign person. #seebeyondthenumbers

15.01.2022 Changes that have been in effect from 1 July 2018 for car thresholds for business use are: Income tax The car limit for depreciation for 2018-2019 is $57 581 ... GST If the price of a car purchased is over the car limit amount then the maximum amount of GST credit that can be claimed is one eleventh of the car limit amount. This does not apply to luxury car tax as GST cannot be claimed even if the car is being used for business purposes Luxury car tax Tax threshold for luxury cars has increased to $66 331 Fuel efficient luxury cars remains at $75 526. #seebeyondthenumbers See more

13.01.2022 Illegal Phoenix companies are those that are created to continue the business of companies that have previously liquidated in order to avoid paying taxes. To protect yourself and your business ensure that: The ABN is still valid and the business is registered ASIC can provide you with a report on the company ... Research the company online to see if there have been any negative reports in the media. #seebeyondthenumbers See more

13.01.2022 When assets are sold capital gains tax (CGT) needs to be paid on the profit. So does CGT need to be paid when a house is sold? In most cases, the answer is no. There is an automatic exemption for any capital gain or loss when a taxpayer sells their main residence. #seebeyondthenumbers

12.01.2022 During the financial year you'll receive documents that are important for doing your tax, such as payment summaries, receipts, invoices and contracts. Generally, you need to keep these for five years from when you lodge your tax return in case the ATO ask you to substantiate your claims. #seebeyondthenumbers

12.01.2022 If a SMSF owns either commercial or business properties, the SMSF trustee is entitled to decide to elect to register for GST. If it does then the SMSF has to also charge GST on income that is received through rent. The GST needs to be forwarded to the ATO. The SMSF can then choose to claim GST on certain expenses, solely related to the property.#seebeyondthenumbers

12.01.2022 Gifts from clients

11.01.2022 A trust allows for tax to be distributed to beneficiaries such as your spouse or children who are in a lower tax bracket. This is a powerful tax saving strategy which can potentially save you thousands of dollars per year in tax! #seebeyondthenumbers

11.01.2022 If an individual fail to lodge their tax return on time a failure to lodge penalty applies which is currently at $210 and can go upto $1050. Your tax agent can ensure tax returns are done on time and hassle free. We have helped hundreds of clients lodge late returns and avoid paying penalties and fines. #seebeyondthenumbers

09.01.2022 Self-education expenses are deductible when the course you undertake leads to a formal qualification and meets the following conditions: The course must have a sufficient connection to your current employment and: Maintain or improve the specific skills or knowledge you require in your current employment, or... Result in, or is likely to result in, an increase in your income from your current employment. #seebeyondthenumbers See more

08.01.2022 Your entitlement to a private health insurance rebate or tax offset depends on the age of the oldest person covered by your policy and your single or family income depending on your family status. If you have private health insurance: the amount of private health insurance rebate you are entitled to receive is reduced if your income is more than a certain amount we will calculate the amount of private health insurance rebate you are entitled to receive when you lodge your tax return. #seebeyondthenumbers

08.01.2022 If you are required to travel for work to visit clients you may claim the costs of these trips Professional indemnity insurance costs are also claimable. #seebeyondthenumbers

07.01.2022 Did you know fuel tax credits have increased as of 4th February 2019 and with our expertise we can help you with all your tax needs. #seebeyondthenumbers

07.01.2022 If you are required to travel as part of your business, profession or job, any costs which you or your business incurs are potentially tax deductible. Small business owners can deduct those costs as operating expenses. Employees who are not reimbursed for these expenses can deduct them as work related travel expenses. The kinds of expenses which you might incur, and which might be deductible include: transportation costs of flight, train, bus, car, taxi, etc.... accommodation and meals room, meals, laundry, telephone and internet services. #seebeyondthenumbers See more

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06.01.2022 Do you have a rental property? If so, the following applies: The income received is taxable to the owners of the property in the same proportion as the ownership interest as shown on the title. The rent received must be at normal market rates to be able to claim all the expenses in full. If you rent at below market rent (to family or friends perhaps), you can only claim deductions up to the amount of rent charged. The rent must be declared in the year its received. #seebeyondthenumbers

04.01.2022 Bitcoin is digital currency, it is created and held electronically. Its not controlled or printed, its produced by people and many businesses use it. Where you provide goods or services and you are paid in bitcoin, the value will need to be recorded in Australian dollars as it is your ordinary income for tax purposes. The value is determined through what is considered fair market value which is through a reliable bitcoin exchange. If you make a capital gain on the disposal of a cryptocurrency, some or all of the gain may be taxed. Certain capital gains or losses from disposing of a cryptocurrency that is a personal use asset are disregarded. If the disposal is part of a business you carry on, the profits you make on disposal will be assessable as ordinary income and not as a capital gain. #seebeyondthenumbers

03.01.2022 You could be missing out on hundreds. Ensure that you check your eligibility for tax offsets which include: - the low income tax offset - senior Australians - pensioners offset... - the offset for superannuation contributions on behalf of a low income spouse #seebeyondthenumbers See more