Premier Tax in Ormeau, Queensland | Business service

Premier Tax

Locality: Ormeau, Queensland

Phone: +61 7 5547 5111

Address: 24 Summerlea Crescent 4208 Ormeau, QLD, Australia

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

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21.01.2022 Support for Individuals - The Government will also provide two separate $750 tax-free payments to certain social security, veteran and other income support recipients, and to eligible concession card holders. The first $750 payment will be available to individuals who are residing in Australia and are receiving an eligible Government payment, or are the holders of an eligible concession card, at any time from 12 March 2020 to 13 April 2020 (inclusive). Also, where an individu...al has lodged a claim for one of the eligible payments or concession cards at any time from 12 March to 13 April 2020 (inclusive), they will also receive the payment if the claim is granted. This payment will be made automatically to eligible individuals from 31 March 2020. The second payment will be available to individuals who are residing in Australia and are receiving one of the above eligible Government payments or are the holders of one of the above eligible concession cards, on 10 July 2020 (except for those receiving an income support payment that qualifies them to receive the $550 fortnightly Coronavirus supplement). This payment will be made automatically to eligible individuals from 13 July 2020.

18.01.2022 There are some changes for this tax year which make many people eligible to claim after tax super contributions as a tax deduction. You can claim a deduction for personal super contributions made on or after 1 July 2017 if: You made the contribution to a complying super fund or a retirement savings account that is not a... Commonwealth public sector superannuation scheme in which you have a defined benefit interest CPF or other untaxed fund that would not include your contribution in its assessable income Super fund that notified the ATO before the start of the income year that they elected to treat all member contributions to the super fund as non-deductible, or the defined benefit interest within the fund as non-deductible you meet the age restrictions you notify your fund in writing of the amount you intend to claim as a deduction your fund acknowledges your notice of intent to claim a deduction in writing. These contributions will count toward your contributions cap.

14.01.2022 As the chance of a change of government draws closer please be aware how this may impact you. Investors and small business are about to suffer under the current proposed changes by the Labor government. I don't care who you vote for as long as you understand what you are getting - tax, tax and more tax. Low or no tax paying investors will no longer get a refund of tax paid by companies on their franked dividends. The intention of the imputation system (franking credits) was t...o prevent income being taxed twice. This was a Labor government reform introduced in 1987. While it will be said that these low income earners are somehow reaping benefits from the system, the truth is they are continuing to take extra tax off high income earners with investments (those on $37,000 or more per year) and totally keeping the tax already paid by those on less than $37,000 per year. Doesn't sound fair to me. How about company dividends don't get taxed twice by making franked dividends not taxable income to anyone (high or low income). That sound's fairer to me.

12.01.2022 You'll be pleased to know that Premier Tax are keeping the prices the same as last year - book in now to get your returns done... I'm waiting to answer your call or email :)

11.01.2022 I'm sure we all feel like this at the moment... Give us a call and we can help you get some of it back :)

08.01.2022 Hi All, it's not too late to get your tax done. Day time and evening appointments available until the end of November, then evening appointments will reduce to 1 night a week... Just give us a call :)

05.01.2022 A total of 48,084 scams were reported to the ATO between July and October last year. This year so far there has been a 5-fold increase in scams and the number usually escalates during the tax time period. One victim lost $900,000 to scammers over the course of several months, even borrowing money from family and friends. It is important to keep an eye out for anything that looks suspicious and protect your private information. For example, scammers locate genuine ATO numbers... from its website and project these numbers in their caller ID in an attempt to legitimise their call (a form of impersonation known as "spoofing"). Outbound calls from the ATO do not project numbers on caller ID. If one appears, it's most likely a scam. If people are unsure about whether a call, text message or email is genuine, they should call the ATO on 1800 008 540. See more

05.01.2022 With the challenging times ahead many people are asking what the government support measures mean for them. Support for individuals - From 27 April 2020 A new Coronavirus supplement at the rate of $550 per fortnight will be paid to individuals who are currently eligible for ... Jobseeker Payment; Youth Allowance; and Parenting Payment (Partnered and Single). Anyone who is eligible for the Coronavirus supplement will receive the full rate of the supplement of $550 per fortnight. This supplement will be paid to eligible individuals as part of their existing income support payments. A new category of Jobseeker Payment and Youth Allowance Jobseeker will become available for eligible individuals who are financially impacted by the Coronavirus and satisfy certain requirements. This could include permanent employees who are stood down or lose their employment; sole traders; the self employed; casual workers; and contract workers who meet the income tests, as a result of the economic downturn due to the Coronavirus. Asset testing for the JobSeeker Payment, the Youth Allowance Jobseeker and the Parenting Payment, will be waived for the period of the Coronavirus supplement. Income testing will still apply to the person’s other payments, consistent with current arrangements. Reduced waiting times will result from the waiver of a number of traditional waiting periods.

04.01.2022 From 1 July 2017, a new transfer balance cap ('TBC') applies to limit the amount of benefits a superannuation member can transfer from accumulation phase to support retirement phase income streams. For existing pensions, the TBC rules limit the amount of benefits that can be maintained in a tax-free environment post 30 June 2017. For members whose existing pension balances are likely to exceed $1.6m at 30 June 2017, urgent action is required prior to 30 June 2017. These memb...ers have the option of commuting the excess to accumulation phase or withdrawing the excess from the superannuation system. Note that the $1.6m cap for pension balances is measured on a per member basis and includes total benefits held by each member in retirement phase across all super funds. For example, one member with a pension balance of $1m in their SMSF and a separate $1m pension in an industry fund will exceed the cap and should take immediate action. Although the precise value of pension balances may not be known until after 1 July 2017, the pension commutation paperwork must be completed prior to 30 June 2017 to avoid contravention of the TBC rules.

02.01.2022 So the budget is out for 2018... Highlights to come over the next few weeks... The biggest bonus for Small businesses is that the $20,000 immediate write off is still here... well at least for another year. So if you're in business and need to reduce your taxable income and purchase assets to use in your business... You still have time :)