Wednesday 25 September 2019

IMMEDIATE DEDUCTION FOR FENCING OR FODDER STORAGE ASSETS


If you are a primary producer, you may be entitled to claim a deduction for capital expenditure incurred on fencing and fodder storage assets.

The deduction will be limited to capital expenditure you incur for the construction, manufacture, installation or acquisition of a fencing or fodder storage asset.


The expenditure must have been incurred primarily and principally for use in a primary production business conducted on land in Australia.


If you are not a primary producer, a deduction can’t be claimed for fencing and fodder storage assets under these provisions. However, you may be entitled to a deduction under other provisions if these assets are used to produce income.


For more information visit:



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 18 September 2019

TRACK YOUR EXPENSES USING THE ATO MYDEDUCTIONS APP


The ATO app myDeductions tool can help you keep your tax deduction and income records all in one place.

Simply download the ATO app to your smart device and choose whether you'd like to use myDeductions as an individual, sole trader, or both.


You can then pass this information along to your accountant come tax time.


Click on the link below for more information:
 https://www.ato.gov.au/general/online-services/in-detail/mydeductions/mydeductions/

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 11 September 2019

REMINDER - AUGUST ACTIVITY STATEMENTS




Don't forget to lodge your August Activity Statement (IAS) by 21 September 2019.

Please feel free to contact MY Books & Payroll on 5427 8118 or Langley McKimmie on 
5427 8100 if you would like our assistance.

“My Books & Payroll” experienced bookkeepers, Cate, Emma and Ebony offer a comprehensive bookkeeping service or tailored account services.

Wednesday 4 September 2019

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.