Sherif & Associates in Melbourne, Victoria, Australia | Tax preparation service

Sherif & Associates

Locality: Melbourne, Victoria, Australia

Phone: +61 473 659 245

Address: 16 Lambeth Street 3021 Melbourne, VIC, Australia

Website: https://www.smf-accountingservices.com/

Likes: 266

Add/Update information

Reviews

Tags

• Tax preparation service
• Financial service

04.05.2022 Our WhatsApp is: +61473659245

24.04.2022 This video shows how users can use the application features like scan from camera, gallery, sign, send to people, open pdf from email and sign and send it back. Below is the link to install the iPhone Application: https://apps.apple.com/in/app/sherif-scan-sign/id1544403939

15.04.2022 This video shows how users can use the application features like Scan images from Camera, Gallery and Sign on and send to people. Below is the link to install the Android Application: https://play.google.com/store/apps/details

29.03.2022 This video shows how users can use the application features. Below is the link to install the Android Application: https://play.google.com/store/apps/details

25.01.2022 https://www.facebook.com/SherifAccounting

23.01.2022 New laws have passed that allow small businesses to claim an immediate deduction for assets they start to use or have installed ready for use provided each depreciable asset costs less than $20,000. This will temporarily replace the previous instant asset write-off threshold of $1,000. This measure starts 7.30pm (AEST) 12 May 2015 and will end on 30 June 2017. The balance of the general small business pool is also immediately deducted if the balance is less than $20,000 a...t the end of an income year that ends on or after 12 May 2015 and on or before 30 June 2017 (including existing general small business pool). The current 'lock out' laws will also be suspended for the simplified depreciation rules (these prevent small businesses from re-entering the simplified depreciation regime for five years if they have opted out) until the end of 30 June 2017. Legislation and supporting material Tax Laws Amendment (Small Business Measures No.2) Act 2015 Resources: Australian Taxation office See more

20.01.2022 Now we can be sure that the Virus is afraid from protesters. Thats Belarus

19.01.2022 Announcement I advise every single tax payer to not respond to any phone call that pretend it’s the ATO Australian Taxation Office). Even, if it’s the ATO that’s calling, it’ll be a private number. Don’t provide any of your information under any circumstances. Ask them to leave their phone number and that you’ll call them back. The ATO phone number as follows: Individuals: 132 861 Business: 132 866 Tell them of what you got. Otherwise, contact your tax agent straight aw...ay. The scammers are using a Mask software that can show you any phone numbers they want. One of my clients already called her from a number 100% typical to my number. But likely she informed me and she recorded all the phone calls and we reported to the ATO. I myself received a phone call from these scammers pretended that they’re from the ATO. Please, be The only numbers of the ATO are: Individuals: 132 861 Business: 132 866

16.01.2022 Individual taxpayers with business income from an unincorporated business that has an aggregated annual turnover of less than $2 million will be eligible for a small business tax discount. The discount will be five percent of the income tax payable on the business income received from an unincorporated small business entity. The discount will be capped at $1,000 per individual for each income year, and delivered as a tax offset. The start date for this measure is the 201516 ...income year. Legislation and supporting material This measure is not yet law. Legislation for this measure was introduced to Parliament on 24 June 2015 in Tax Laws Amendment (Small Business Measures No. 3) Bill 2015. Resources: Australian Taxation Office See more

14.01.2022 New changes coming soon and will take effect after 16 weeks from now relevant to car expenses.

14.01.2022 Tax tricks that will get you in trouble All Aussies have the right to arrange their financial affairs in order to keep their tax bill to a minimum, but some taxpayers inadvertently push their tax affairs to the boundaries of the law. Involvement in a tax avoidance scheme can not only mean the individual will have to pay back missing tax with interest and penalties, but it can also put the original investment at risk.... And the ATO encourages all Aussies to report possible tax-evading schemes in order to keep the whole system fair for everyone. Five top tips to get the best tax return Things to look out for include: - Excessively large deductions or tax offsets when compared to investment income - Mixing private expenses with business expenses - Investing now, with no return until later years, if ever - Complex financing arrangements with no obvious commercial purpose - Creating a loan that may never need to be repaid - Claiming deductions that may never need to be paid for. Resources: Yahoo Finance & ATO 02 June 2016

10.01.2022 Meat processing workers The ATO now is targeting the meat processing workers as, the discovered over claims into the tax return of this industry speciafically. As tax agents and accountants we have an obligation towards our clients to make them aware of their obligations by hlping them to make the right and the proper claims of deductions. As the ATO now became aware after reviewing many of the tax returns of this industry tax returns. They discovered a lot of false claims an...Continue reading

05.01.2022 Sherif & Associates is an accounting and taxation organisation providing wide-range of services to the clients. Our services targeting individuals, partnership, trusts and companies. We are helping many industries here in Australia such as child care services, RTO businesses, law, migration, building & construction firmsand much more. We can help our clients to get their home or commercial loans and meet their needs of business and personal loans.... The business is running by professional accountants who are members in Public Accountant Institute and Chartered Accountants. Also, there are new members will be joining our team soon. Our main goal is our client satisfaction. We hope to be at your service when you need our help. Find us on Yellow Pages and Google by searching Sherif & Associates.

04.01.2022 Announcement I advise every single tax payer to not respond to any phone call that pretend its the ATO Australian Taxation Office). Even, if its the ATO thats calling, itll be a private number. Dont provide any of your information under any circumstances. Ask them to leave their phone number and that youll call them back. The ATO phone number as follows: Individuals: 132 861 Business: 132 866 Tell them of what you got. Otherwise, contact your tax agent straight aw...ay. The scammers are using a Mask software that can show you any phone numbers they want. One of my clients already called her from a number 100% typical to my number. But likely she informed me and she recorded all the phone calls and we reported to the ATO. I myself received a phone call from these scammers pretended that theyre from the ATO. Please, be The only numbers of the ATO are: Individuals: 132 861 Business: 132 866

04.01.2022 Over 100 Parents which have paid private school fees from overseas bank accounts, as part of its investigation into offshore tax evasion. ............................. The ATO has contacted more than 100 parents, which have paid private school fees from overseas bank accounts, as part of its investigation into offshore tax evasion. It follows the ATOs offshore disclosure initiative, Project DO IT: disclosure offshore income today. The net is closing for people who think... they can avoid their Australian tax obligations by holding money and assets offshore, ATO deputy commissioner Michael Cranston said in a statement. Also read: ATO cracking down on poor tax behaviour The school fees involved information obtained from about 60 private schools around Australia, showing parents who have had school fees paid from an offshore account or related offshore entity. Weve checked this information against income tax returns and will follow up discrepancies with about 100 parents who may have failed to declare their offshore interests, Cranston said. Well be asking them to provide documents and attend interviews to answer questions about their arrangements. Also read: Chevron our biggest tax dodger: Dastyari In a new shift towards greater transparency, the ATO will work collaboratively with other tax administrations to undertake joint compliance action on advisers and taxpayers. Resources: ATO & the link:https://au.finance.yahoo.com//parents-investigated-for-off See more

03.01.2022 New changes will be effective and coming to life after 16 weeks from now relevant to Car expenses claims. Logbook method Your claim is based on the business-use percentage of the expenses for the car.... Expenses include running costs and decline in value but not capital costs, such as the purchase price of your car, the principal on any money borrowed to buy it and any improvement costs. To work out your business-use percentage, you need a logbook and the odometer readings for the logbook period. The logbook period is a minimum continuous period of 12 weeks. You can claim fuel and oil costs based on either your actual receipts or you can estimate the expenses based on odometer records that show readings from the start and the end of the period you had the car during the year. You need written evidence for all other expenses for the car. Resources: Australian Taxation Office.

01.01.2022 Successful Auditing (Revision): 2013 - P. Georgio Fines and federal court case has been finalised and fines have been removed. 2014 - D. Family Day Care Penalty of $164,000 regarding Payroll & Superannuation. Case was finalised and the whole amount been removed. Gratitude letter from ATO for our effort and work. 2015 - Z. AlMosawy, $84,000 Penalty been removed and the case has been finalised. C. Family Day Care GST Cancellation $68,000 & $70,000 have been removed and the case... finalised. We love our work and we love what we do. Nothing is impossible, we who create the impossible See more

01.01.2022 ATO announcement on December 3, 2015 Growing Jobs and Small Business - tax cuts for small business The government is proposing to reduce the income tax rate to 28.5 per cent for small business companies (i.e. with an aggregated annual turnover of less than $2 million).... Companies with an aggregated annual turnover of $2 million or above will continue to be subject to the current 30 per cent tax rate on all their taxable income. The current maximum franking credit rate for a distribution will remain unchanged at 30 per cent for all companies, maintaining the existing arrangements for investors. These changes apply to assessments for income years starting on or after 1 July 2015. Legislation and supporting material Tax Laws Amendment (Small Business Measures No.1) Bill 2015External Link received Royal Assent on 22 June 2015 and can be found here: https://www.comlaw.gov.au/Details/C2015B00076 Resources: Australian Taxation Office