SLS Accounting in Perth, Western Australia | Accountant

SLS Accounting

Locality: Perth, Western Australia

Phone: +61 8 9322 1689

Address: Ground Floor, 35 Ventnor Ave 6005 Perth, WA, Australia

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

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25.01.2022 SCAM ALERT Look out for this dodgy ‘Tax Form’ email, which asks you to complete a form via a malicious link. Don’t click the link! Forward the email to ...us at [email protected] Delete it and don’t respond to the sender The email may claim to be from the ‘Revenue Collection Agency’ or ‘ATO Australia’. Always be wary of emails claiming to be from us. Spread the word and check out our scam alerts page for more info: ato.gov.au/ScamAlerts

25.01.2022 - Incorrect PAYG instalment Variations and GIC - Some taxpayers are incorrectly varying their pay as you go (PAYG) instalment rate or amount. This may result in a debt or credit at the end of the financial year and may attract a general interest charge (GIC) . If you feel the PAYG amount is too high, please contact our office, and we will liaise with you and prepare the calculation to ensure your varied amount is accurate.

25.01.2022 One of our directors, Duncan had the enviable pleasure last night of attending a seminar presented by Justin Langer. The presentation was fantastic, but even better was the chance to meet Dr Langer after the event

25.01.2022 From the 1st of July 2018, people over the age of 65 may be able to boost their retirement savings upon the sale of their main residence. If you are considering downsizing, please contact the office for more information.

23.01.2022 #FederalBudget2017 good for small businesses, not so good for big banks. Contact the office and speak to one of our advisors for more information

23.01.2022 Happy Easter from the team at SLS Accounting

22.01.2022 Some very important information for all our small business owners. Please contact the office if you would like to discuss this further.

22.01.2022 Starting a business from home or running one already? Make sure youre covered with the right insurance. Contact the office to speak to one of our experts to discuss your options.

21.01.2022 Sole Traders - do you have a shoe box full of receipts ? The ATO has a new feature in its app to help! myDeductions is a quick and easy tool to use that allows you to track and back up your records making tax time less stressful.... Find out more http://www.ato.gove.au/mydeductions

20.01.2022 Lots of income sources to include on your tax return? Let us help you get it right! Most of your information should already be pre-filled in your myTax return, ...but its important to double-check its all there (and accurate!) just in case. Find out about the types of income you need to include at https://ato.gov.au/incomeyoumustdeclare

20.01.2022 Low Income Tax Offset If you make contributions to a superannuation fund on behalf of your spouse who is earning a low income or not working you will be eligible for a tax offset. From 1 July 2017, your spouse is now able to earn up to $40,000 for you to claim the tax offset. Please contact the office for more information

19.01.2022 From 1 July 2017, the annual non-concessional contributions cap will be reduced from $180,000 to $100,000 for people with a total superannuation balance of less than $1.6 million. Where your total superannuation balance is over $1.6 million, you will be unable to make any more non-concessional contributions. This is the cap on super contributions you make from your income after tax has been deducted. If you are under 65, there are currently rules in place that allow you to co...ntribute 3 years worth of non-concessional contributions, meaning you could potential increase your superannuation balance by $540,000 before the changes apply (this will be reduced if you have made any non-concessional contributions in the last three years) If you would like us to confirm your non-concessional superannuation contributions over the past 3 years to see if you are able to make any contributions, please contact our office. For more advice on making contributions, our financial planning team would be happy to assist you further.

18.01.2022 Whether youre a first home buyer, a downsizer or a property investor, the 2017 Federal Budget could affect you. Contact the office to speak to one of our advisors today and find out more.

18.01.2022 Small business tip: Make sure you have proper tax invoices before making claims for GST on purchases. For an invoice to be considered a tax invoice, it must include: suppliers name and ABN GST amount payable date the invoice was issued ... description of items sold. Check what else must be included on a tax invoice at https://www.ato.gov.au/Business/GST/Issuing-tax-invoices/

18.01.2022 As part of the 2016 Federal Budget, the Government is making significant changes to super contribution rules. If youre currently making contributions to super, its important to know if these changes could affect your financial strategy. Please contact our offices to discuss your superannuation accounts and how they will be affected by the new contribution rules with one of our financial planners.

17.01.2022 Beware of fake myGov emails and SMS messages! Please be aware that fake emails and SMS messages claiming to be from the Australian Government Department of Human Services myGov website are targeting the community. The fake messages seek to gather sensitive personal details and use them for malicious purposes.... Anyone who has received an SMS or email claiming to be from the Department of Human Services myGov and logged into their myGov account by accessing the link provided within those messages, should contact the myGov helpdesk immediately on 13 23 07. The Department of Human Services does not include links in the SMS and email messages it sends to recipients. We suggest you should always log in by entering my.gov.au into your browser and check that https:// appears at the beginning of the address bar when you land on the site. If you are ever unsure about whether an email or SMS is legitimate, contact the organisation, department or individual that it purports to come from, using a number you have independently located on a website, phonebook or bill, before opening the message.

17.01.2022 We don't mean to boast, but not many firms meet their lodgement targets. Check out our certificate from the ATO

15.01.2022 Managing cash flow is often one of the biggest challenges faced by small businesses in Western Australia today. The WA economy is doing it tough at the moment so customers are often slow to pay. This is a big problem for most businesses, which is why it is important to have an effective debt collection process in place. If you dont have a process and dont know where to start with establishing one, we can help you. There are many other strategies you can adopt which will help you to manage your debtors. You should also consider creditors management, stock/WIP management and budgeting/management reporting all things we can help you with. Call our office to set up an appointment to discuss how you might improve cash flow in your business today.

14.01.2022 Low Income Spouse Tax Offset If you make contributions to a complying superannuation fund or a retirement savings account (RSA) on behalf of your spouse (married or de facto) who is earning a low income or not working you may be eligible for a tax offset. Please contact the office for more information.

13.01.2022 From 1 July 2017, the eligibility rules for claiming a deduction for personal super contributions have changed. If you are between 18 and 75 years old and have made contributions to an eligible super fund you could be eligible to claim a deduction for those contributions. Please note that anyone over the age of 65 will be required to meet a work test BEWARE: The maximum concessional contributions for those under 75 years have been reduced to $25,000. This includes your employer contributions, salary sacrifice arrangements and other contribution types Please contact the office if you need assistance in ensuring that you do not exceed your concessional contributions cap.

13.01.2022 SCAM ALERT Look out for this dodgy Tax Form email, which asks you to complete a form via a malicious link. Dont click the link! Forward the email to ...us at [email protected] Delete it and dont respond to the sender The email may claim to be from the Revenue Collection Agency or ATO Australia. Always be wary of emails claiming to be from us. Spread the word and check out our scam alerts page for more info: ato.gov.au/ScamAlerts

13.01.2022 We dont mean to boast, but not many firms meet their lodgement targets. Check out our certificate from the ATO

12.01.2022 Today we said farewell to Steph. She has been part of the SLS administration team for the past 2 years. Thanks for all your hard work Steph and best of luck with your future endeavours.

11.01.2022 Work Related Expenses - Don’t forget to keep any receipts for work-related expenses such as uniforms, training courses and learning materials, as these may be deductible for tax purposes.

11.01.2022 Small businesses: Weve answered some popular questions youve been asking about deductions in our latest Small business newsroom article. See if your question has been answered at https://www.ato.gov.au///General/Deductions-this-tax-time/

09.01.2022 Accelerated Depreciation for Small Business Extended Small businesses with a turnover of less than $10 million can now claim an immediate deduction of eligible assets costing less than $20,000. Assets costing more than $20,000 will need to be placed in an assets pool depreciated at 15% in the first year and 30% in subsequent years. Please note that this immediate depreciation concession is only valid until 30 June 2018 Please contact the office for more information.

08.01.2022 Are you ready for Fringe Benefits Tax year end? Have you got your house in order for FBT season? If you need help with odometer readings or employee declarations, give us a call.

07.01.2022 Superannuation Contributions From the 1st of July 2017, employees earning a salary/wage are able to claim a tax deduction in their personal tax return on contributions towards their superannuation fund. This counts towards the $25,000 contribution cap which includes your employer Super Guarantee Contributions. Please contact the office for more information

05.01.2022 Did you know that from 1 July, Division 293 penalty tax starts from $250k, rather than $300k as it does now? Will this affect you? Not sure? Call us to discuss how this may impact you and what opportunities exist to minimise your tax.

05.01.2022 The Directors and Staff of SLS Accounting wish you a Merry Christmas and a Happy and Prosperous New Year. Please note our office will be closed from noon Friday 22 December 2017 and re-opening Monday, 8th January, 2018 at 8.30 a.m

04.01.2022 Do you have a payment plan in place for your overdue tax debt? From July the ATO plans to disclose to credit reporting bureaus some debt information of business taxpayers that are not effectively engaged with them to manage their debts. The measure is designed to encourage taxpayers to pay taxation debts in a timely manner to avoid it affecting their credit rating.... This plan is not yet law so the details have not yet been finalised. If you have a tax debt and dont have a payment plan in place, we can assist you with the process of determining what you can afford and negotiating an appropriate plan to ensure that your debt is not disclosed. Call us today.

04.01.2022 Your pension balance may be subject to tax from 1st July 2017. As a result of the 2016 Budget announcements, Superfund balances of over $1.6 million in pension phase will be subject to tax in a few months time. Superfund balance includes GESB, Constitutionally protected funds and WestState Super. So if your combined SMSF and GESB Superfund balance exceeds $1.6 million, then you could be subject to 15% tax on your fund. Your accountant is now not permitted to advise on the options available, you will need to speak to one of our in-house financial advisors - Duncan or Georgina to discuss your options.

04.01.2022 From 1 July 2017, the deduction rules for travelling to inspect a rental property have changed. You will no longer be able to claim a deduction on travel to inspect, maintain or collect rent on a property. Please contact the office for more information.

03.01.2022 Work Related Expenses - Dont forget to keep any receipts for work-related expenses such as uniforms, training courses and learning materials, as these may be deductible for tax purposes.

03.01.2022 Single Touch Payroll is a reporting change for employers. It means employers will report payments such as salaries and wages, pay as you go (PAYG) withholding and super information to the ATO directly from their payroll solution at the same time they pay their employees. Employers may need to update their payroll solution to report through Single Touch Payroll. If you require assistance with the new obligations please contact the office.

01.01.2022 From 1 July 2017, all Australian and foreign residents selling real estate for more than $750,000 will need to apply for a Clearance Certificate from the ATO. Previously these were only required for properties sold with a value of more than $2,000,000. If the vendor does not obtain a Clearance Certificate, the purchaser must withhold 12.5% (from 1 July 2017 - the current rate of withholding is 10%) of the purchase price and pay this to the ATO upon settlement.... If you think you may be affected by this, please call our office to discuss.

01.01.2022 Another 2016 Budget announcement is limiting the amount you can contribute to super. If your total super balance exceeds $1.6 million as at 30th June 2017, you will not be able to make further non-concessional contributions towards your Superfund. Please contact one of our in-house financial advisors before you make any additional contribution towards your super.