Wednesday 21 March 2018

ARE YOU SINGLE TOUCH PAYROLL READY?



Single Touch Payroll is a reporting change commencing on 1 July 2018 for employers with 20 or more employees.


You will report payments such as salaries and wages, pay as you go (PAYG) withholding and superannuation contributions from your payroll software each time you pay your employees.


Single Touch Payroll will be expanded to include employers with 19 or less employees from 1 July 2019. This is subject to legislation being passed in parliament.


For more details please follow the link below:



Please contact Chris Mercieca, Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.

We provide
accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.
   
   


Wednesday 14 March 2018

PROVIDING BENEFITS TO YOUR EMPLOYEES?



If you are providing non cash benefits to your employees you may have to pay Fringe Benefits Tax!


Benefits can include: use of a car, provision of loans, non-work related travel and many others.

https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/

Please contact Fiona Cook, Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.

We provide
accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.
   
   

Wednesday 7 March 2018

CHANGES TO CGT MAIN RESIDENCE EXEMPTION RULES




If you are a foreign or temporary tax resident of Australia, you could be affected by the change to Capital Gains Tax (CGT) legislation.

Properties acquired by foreign and temporary taxpayers after Budget Night (9 May 2017) will not be eligible for the main residence exemption.

Properties held prior to Budget Night will be grandfathered until 30 June 2019, meaning they may be eligible for the main residence exemption if sold before 30 June 2019.

For more information, see the ATO link below: