Prime Numbers Accountants in Sydney, Australia | Consultation agency

Prime Numbers Accountants

Locality: Sydney, Australia

Phone: +61 1800 788 186

Address: 44 Market St Level 26 2000 Sydney, NSW, Australia

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

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18.01.2022 GST on overseas purchases GST on overseas purchases under $1000 could be occurring according to the PM. The Prime Minister has released a communiqué following the Australian Leaders Retreat in Sydney on 22 July 2015.... He said that all Leaders agreed to keep Commonwealth and State tax changes on the table including the GST and the Medicare levy. As a first step, there was agreement in principle by Leaders to broaden the GST to cover overseas online transactions under $1,000. This matter will be referred to the upcoming meeting of Treasurers to progress in detail. Source CCH

18.01.2022 Saved a client $3,620 in GST today!! It happened when I was reviewing their Business Acitivity Statements. Their Bookkeeper was not claiming GST on Google bills.

13.01.2022 Tax cuts for small companies in the next budget? Here is an article from Thomson Reuters Weekly Tax Reporter. Its based on the PMs address to the National Press Club. In his address at the National Press Club on 2 February 2015, the Prime Minister announced that the Government's planned Paid Parental Leave scheme would not go ahead. He said a "bigger parental leave scheme is off the table". He also announced that the Government is working on a small-business and jobs package.... He said at the heart of that package will be a small business company tax cut on 1 July 2015 "at least as big as the 1.5% already flagged". The PM said the Government would also produce a new families policy.Mr Abbott said: "Our problem is not that taxes are too low; our problem is that government spending is too high". He said the Government will shortly put in place better scrutiny and reporting of foreign purchases of agricultural land and better enforcement of the rules against foreign purchases of existing homes so that young people are not priced out of the market. Mr Abbott said that, on childcare policy, the Government will consult widely on a way to improve the system of multiple payments, and keep costs down. He said the Government will also be inviting "constructive debate across the political spectrum on all options for a better tax system to deliver taxes that are lower, simpler and fairer". The PM said the Government won't pre-empt the outcome by ruling things in or out before the process has properly begun. The PM said the GST can not and will not change unless all the States and Territories agree. "It cant and won't change unless there is political consensus. That means leaving aside any minor administrative changes that the base and the rate of the GST won't change this term or next unless it's supported" by Labor. In my view changes to the tax rate of small companies are welcome but changes to the tax system that more directly effect productivity such as depreciation incentives or incentives to employ would be really good.

12.01.2022 Immediate deduction for new business small business start-up costs With effect from 2015/16, the government proposes to allow small business entities and taxpayers not yet carrying on a business to deduct certain start-up expenses incurred in relation to a proposed business immediately. For the expenditure to be deductible immediately, it must:... relate to a business that is proposed to be carried on be incurred in obtaining advice or services relating to the proposed structure or the proposed operation of the business, or is a payment to an Australian government agency of a fee, tax or charge incurred in relation to setting up the business or establishing its operating structure, and be incurred by a small business entity, or an entity that does not carry on a business and does not control and is not controlled by an entity carrying on a business that is not a small business entity in that income year.

11.01.2022 Pictures of office locations

10.01.2022 Chartered Accountants located in the City, Bondi Junction and Parramatta. See www.pnaccountants.com.au. Read the testimonials..our clients are very satisfied.

04.01.2022 The Tax Commissioner has given a speech at the Council of Small Business of Australias (COSBOAs) National Small Business Summit. Some of the more interesting points made by the Commissioner were as follows: better experience for small businesses dealing with ATO the Commissioner said that he was committed to delivering on the promise of a better experience for small businesses dealing with the ATO and the ATO was making good progress, based on feedback to date... website the ATO has been clearing out and cleaning up the content on its website and improving the search functionality. Its becoming more user friendly on your computer or mobile device. In the next month or so, therell be a new look and feel for the whole site including a new homepage for business with a simplified layout to make it easier for taxpayers to find what theyre looking for small business newsroom the ATOs small business newsroom was launched in August 2014 and there are now in excess of 700,000 small business subscribers to the newsroom ATO app more than 500,000 people have downloaded the ATO app and the most useful features for small business are: (1) ABN Lookup, which verifies business details; (2) the tax withheld calculator, which shows taxpayers how much tax to withhold; (3) key dates, which can set important tax and super reminders and alerts; (4) payment plan estimator, which shows taxpayers how quickly they can pay off a tax debt; (5) report a concern, which enables taxpayers to report suspected tax evasion business performance check tool the ATO expects to release a new function for the app which includes a business performance check tool. This check tool will provide a snapshot of profitability, cash flow, working capital and debt serviceability so that taxpayers can understand the financial health of their business. It also compares a taxpayers performance against similar businesses in their industry using our extensive benchmark database material. Taxpayers will need a minimum of one month of their own business data usual income and expenses, assets and liabilities to use the tool. Source: Commissioners speech to the National Small Business Summit, Thursday, 16 July 2015, Doltone House, Jones Bay Wharf, Sydney. See more