Vanessa Gray Accounting and Tax in North Ryde | Financial service

Vanessa Gray Accounting and Tax

Locality: North Ryde

Phone: +61 407 673 182

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• Tax preparation service
• Accountant
• Financial service

25.01.2022 Do you have financial goals for 2018? Whether it be buying a property or investing in shares, it may be worthwhile to get tax advice before signing on the dotted line. When buying assets there are ways to minimise tax, but is often only beneficial if planned prior to the asset purchase.

24.01.2022 Well, the budget has been handed down, and its certainly been crafted for an election. The Coalitions catch cry was without increasing taxes. It seems everyone was a winner, with lower tax rates, an increase in the instant write off for business and money put towards infrastructure and mental health, all while spruiking a budget surplus. Well give a more detailed summary tomorrow. Stay tuned.

24.01.2022 May you and your family have a very merry Christmas and a joyful and prosperous new year!

24.01.2022 Weve just updated our website to include some FAQs about starting a business. Have a simple question? Let us know, and we may include it on our page! http://www.vgrayaccounting.com.au/business.html

23.01.2022 As the financial year comes to an end I often get asked what you can do to reduce your tax. Well, the simplest answer is to keep good records. The ATO have a great app which can keep track of your deductions and when it comes time to provide them to your tax agent you can easily download and email it. See the link below to find out more. #tax #taxtime #tax2019 #Accountant #Deductions https://www.ato.gov.au//Online-servi/ATO-app/myDeductions/

22.01.2022 Are you a bit unsure about your tax deductions you claim? Here are some of the more obscure claims made by taxpayers. If youre ever in doubt contact your tax agent. https://mobile.abc.net.au//ato-lists-weirdest-tax/11362492? #tax #accountant #tax2019

21.01.2022 Happy International Accountants day!Happy International Accountants day!

20.01.2022 Additional tax benefits if youre now working from home. #tax #accounting #workingfromhome https://mobile.abc.net.au//claiming-tax-deductio/12128622

20.01.2022 Think that your donations to a Go fund me page are tax deductible? Think again. Unless the cause is run by a registered charity it is unlikely that your donation will be claimable on your tax return.

19.01.2022 The government intend to pass legislation to limit deductions for rental properties, specifically travel expenses for individual investors. Effective from 1st July 2017. See the link below for further information: https://www.ato.gov.au//disallow-the-deduction-of-travel-/

17.01.2022 Please read if you have a rental property. Rental property owners will be subject to further scrutiny by the ATO. #business #tax #negativegearing https://www.smh.com.au//a-lot-of-people-are-getting-things

16.01.2022 The government has delivered an election budget, giving a tax offset to low to middle income earners up to $530. With a seven year plan to reduce taxes and eliminate a tax bracket. More details tomorrow.

16.01.2022 #iwd2020 #women #businesswomen

16.01.2022 Are you planning on making a personal contribution to super this year? Time is running out, super contributions need to be received by your super funds before the 30th of June to be tax deductible. Some funds have earlier submission dates. The concessional super cap is $25,000, but keep in mind this includes any SGC and employer contributions to your fund. Contact us if you need further information.

15.01.2022 A quick update on Stimulus 3 https://www.facebook.com/118174458604653/posts/879478909140867/

15.01.2022 Additional tax benefits if you're now working from home. #tax #accounting #workingfromhome https://mobile.abc.net.au//claiming-tax-deductio/12128622

14.01.2022 Thinking about making additional contributions to your super? Now is the time to contribute before too late. Youre entitled to make concessional contributions to your super up to $25k per year (this cap includes employer contributions). Personal contributions up to the cap are tax deductible. For more information see the following link or contact us. ... #tax #super #EOFY https://www.ato.gov.au//Super-contributions---too-much-c/

13.01.2022 The end of the financial year is almost here and were excited! Are you ready?

12.01.2022 Its budget night tonight and were excited! Well be watching from 7.30pm tonight and give some updates tomorrow to help explain it!

12.01.2022 Happy Easter! Enjoy the long weekend!

12.01.2022 18 years after the GST was introduced, feminine hygiene products will now be GST free. In 2000 when GST legislation was introduced, GST was to be charged on all goods and services except those items thought to be a necessity. The original legislation included items such as fruit and vegetables and medical supplies as GST free, but not feminine hygiene products. Today treasurers from all states and territories agreed to scrap the 10% GST on these items, with the full list of items to be scrutinised by the public.

10.01.2022 Happy International Womens day! "There is no limit to what we, as women, can accomplish." -Michelle ObamaHappy International Womens day! "There is no limit to what we, as women, can accomplish." -Michelle Obama

09.01.2022 Budget 2019 Last night the budget was released by the Coalition, a few days before its expected that they will call an election. Here is a relevant summary for what they announced: - Increase in the LMTO The Low and Medium Tax Offset has more than doubled since being announced last year to $1,080 for taxpayers earning between $41k and $90k... - From 1 July 2024 the 32.5% tax rate will decrease to 30% and as per last year the 37% tax rate will be abolished - The instant asset write-off for businesses, as expected will continue, from last night will increase to $30k per asset. They also are increasing the access to it - to businesses with a turnover up to $50 Mil - The government is giving the ATO $1Bil to target tax avoidance of Multinationals, Large Private companies and High Wealth Individuals over a 4 year period. Its important to note that these measures will only come into effect if the Coalition are elected. As the ALP have their own tax policy. #Budget2019 #Auspol #Tax

09.01.2022 If youre lodging your tax return yourself, keep in mind that the deadline for the 2019 FY is this Thursday 31st October. However breathe easy if you have a tax agent as you have much longer, in many cases, until May next year.

09.01.2022 Do you have private health insurance (PHI)? While PHI is a contentious topic, if you earn over $90,000 for singles or $180,000 for families and dont have it, you can be liable for the Medicare Levy Surcharge (MLS). While the Medicare levy is factored into your PAYG taken out by your employer, the MLS is not. Which means if you dont have the cover, you could end up with a tax bill at the end of the financial year.

08.01.2022 https://www.facebook.com/72924719987/posts/10159905307644988/

06.01.2022 Well, its easy to see that the budget announced last night was targeted at individual tax payers. This is much different to the Coalitions previous budgets where they were targeted at businesses. Its important to note that the budget is a plan only, and still need to have a majority approval to be legislated. Weve hand picked a few things from the budget that you may be interested in: - LMTO - Low to medium tax offset. This is in addition to the current Low Income Tax O...ffset. Taxpayers who earn up to $37k will receive up to an additional $200, Taxpayers $37k - $48k up to an additional $530 where $48k - $90k will receive the full $530. The $530 is then reduced on a sliding scale to an income of $125,333. (Yes it is a bit confusing) - There will be an adjustment to the tax brackets (assuming they can get the others on-board) and will eliminate a tax bracket. Currently, the $87k - $180k bracket will disappear. But they also intend on changing the brackets first, so eventually there will be a $41k - $200k bracket. All of this will happen over a period of 7 years. (And yes this is confusing as well). - The government is keeping the $20k instant write off for small businesses for the 2019 FY year! (Yes! But why dont they just keep it?) - Super changes for High Income earners - Those who earn over $263,157 will be given the opportunity to opt-out of SGC. This will give them control over their Concessional Contribution Cap. - Small super balances ($6k and under) will be imposed with a maximum of 3% in fees. -Super again - there will be an opt-in basis for life insurance for under 25s, small balances or those accounts which havent received contributions for over 13 months. There were many many other announcements, If you have a question/comment. Let us know!

06.01.2022 We have relocated to North Ryde, however we still are happily servicing all areas.

06.01.2022 Were already rocking out to our favourite Christmas carols. Merry Christmas everyone!Were already rocking out to our favourite Christmas carols. Merry Christmas everyone!

03.01.2022 The ATO has extended the deadline for Jobkeeper Applications until 31 May. https://www.ato.gov.au/general/jobkeeper-payment/ #jobkeeper #ATO #tax

02.01.2022 Happy Australia day everyone!

02.01.2022 Single Touch Payroll (STP) STP Legislation passed today which means that by July 2019 all employers will be required to submit pay data electronically to the ATO, each pay cycle for each employee. The information submitted includes gross wages, withholding amounts and superannuation. This brings the ATO and all employers into the digital age meaning they have up to date knowledge of what the employers obligations are as well as individual taxpayers.... If you are an employer and you already use Xero, Intuit, Reckon or any other online platforms, this transition should be relatively easy. However, if you are an employer who keeps manual records you will need to look into a new way to process payroll. The ATO are currently working with payroll software providers to provide a low cost solution. Let us know if you need further information.