Stapleton Moore in Marulan, New South Wales | Accountant

Stapleton Moore

Locality: Marulan, New South Wales

Phone: +61 417 698 375

Address: 71 George Street 2579 Marulan, NSW, Australia

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

Likes: 108

Add/Update information

Reviews

Tags

• Accountant
• Financial service

25.01.2022 From all of us at Stapleton Moore, wishing our clients, friends and family a wonderful Christmas and a safe and prosperous new year! Our office will be closed until 10 January 2019.

12.01.2022 This week’s tax tips is on claiming a tax deduction for your mobile phone. If you use your mobile phone for work or business purposes, you may be entitled to claim a tax deduction. However, only to the extent of the work or business usage. So if you determine your use of your phone for work or business to be 40%, then you can claim 40% of your monthly plan costs. You will have to prove how you calculated the percentage in the event of a tax audit, so make sure you are able t...o provide this information (the easiest way is to take a few months’ invoices and highlight the work related call/texts/emails v the personal ones). If you buy your phone outright, then you will be able to claim a depreciation deduction on the cost, but again, only to the extent of the business or work %. Tax tip- unless you are a drug dealer, pimp or gun importer and have a dedicated phone for business or work related purposes and a separate personal phone, then I would not recommend claiming your phone 100%. Please note, the above rule also applies to laptops, personal computers, iPads, and other electronic devices. See you next week!

11.01.2022 Good evening, taxpayers. Tonight’s topic is very apt in our current economic and environmental climate. Tax Deductible Donations. Did you know that you can claim a tax deduction for donations you make? However only those donations that are paid to entities that have been approved as Deductible Gift Recipients (DGRs) are eligible for a deduction. You can check a charity’s DGR status by going to https://abr.business.gov.au/Tools/DgrListing. ... Please note, organisations, such as Go Fund Me, Kickstarter and Crowdfunder, are NOT DGRS, so you will be unable to claim a tax deduction for any payments made to them. I am sure all of you kind souls are not donating solely to claim a tax deduction, but you still should get bang for your buck. And what better bang is there than a tax benefit... right?? Just make sure that you store your receipt in your shoe box to give to your tax agent come tax time.

09.01.2022 This week’s tip relates to superannuation and is by no means financial advice. Did you know that upon your death, your superannuation balance can only be dealt with under your will in very limited circumstances? In the event of your passing, your superannuation member balance is paid to whomever you have nominated as your beneficiaries with your superannuation fund.... The only way your super balance can be dealt with under your will is if you nominate your estate to be the beneficiary. The superannuation balance will then become an estate asset and can be distributed in accordance with your will. So it may be worth checking with your superannuation fund to find out who your superannuation beneficiaries are and if necessary, updating them. (Hint, feel free to tag all of the mummy’s boys and women who have married mummy’s boys, who probably still have their beneficiary as their mum).

08.01.2022 Good evening all you tax payers! Tonight’s topic is on private health insurance and how having it may reduce the amount of tax you have to pay. In Australia, tax payers with an income exceeding $27,475 will pay 2% of their taxable income for Medicare levy. So for the Australian earning the average salary of $82,000, you will pay $1,640 towards our Medicare service. However, if you are not covered by private health insurance and your adjusted taxable income (which adds back ...rental losses, fringe benefits tax and reportable superannuation amounts) exceeds $90,000 for singles and $180,000 for families, then you will be slugged an additional Medicare levy surcharge. The rates range from 1% to 1.5% depending on your income level. This could add up to thousands of dollars for nothing! If your income levels exceed the above thresholds, or you are approaching these levels, then it may be a good idea to check out the cost of a basic private health insurance policy. Just as an aside, I highly recommend iSelect for quotes for your insurance policies. Even if you are currently covered by a policy, it doesn’t hurt to have a free review to make sure you are covered for what you need to be and not covered for what you don’t!

07.01.2022 This week’s tax tips is brought to you from my couch following our Christmas party last night. This week’s tax tip is don’t drink and then you won’t pay alcohol excise tax.

02.01.2022 This week’s topic is claiming motor vehicle expenses. Again, apologies for the lateness, we have had some lovely weekend visitors (Tony Moore, Sandra Moore and Nick Muller). There are two methods of claiming your car expenses. The first method and easiest one is the cents per kilometre method. This allows you to claim $0.66 for every work related km you travel, up to a maximum of 5,000 kms. Work related travel includes to and from your place of employment to see clients, to... see suppliers, to site offices and you can even claim for popping in to see your lovely accountant. Travel to and from home is normally personal, but there are some limited times when you can claim travel to and from home, for example if you are required to transport bulky tools or equipment, but these rules are very specific and quite hard to meet. In the event of a tax audit, you will be required to prove how you calculated the number of kms. This could include time sheets, logbooks, or diary records. The second method is the logbook method. This method can only be used where you travel more than 5,000 work related kms. It requires you to keep a logbook for 12 weeks. This period must be representative of the whole year’s travel. The logbook can last for up to 5 years provided your travel circumstances don’t change. This logbook allows us to calculate the work usage percentage. You can purchase a logbook or you can use the myDeductions tool in the ATO app. You must then keep records and receipts of the whole year’s car expenses including petrol, registration, insurance, repairs and maintenance, service costs etc. The sum of these expenses are multiplied by the work percentage per the logbook to give us our tax deduction. Every though the logbook lasts five years, expense records must be kept each year. ATO audit activity is very prevalent on these expenses this year. You must ensure that you have all of the necessary records whichever method you choose. Safe travels!!