WHAT’S NEW

SuperStream

SuperStream

Are you Compliant? 30 June Deadlines-Act NOW!
MySuper reforms have been introduced and we are now moving to the next phase of the Australian Government’s Stronger Super reforms, designed to strengthen our Superannuation industry, known as “SuperStream”. SuperStream represents the streamlining and standardisation of superannuation contributions made by employers. Employers and super funds will transition to sending and receiving super contributions electronically (eCommerce) in accordance with a consistent regulated Superannuation Data and Payment Standard (the Standard). The goal is to improve the efficiency of the superannuation system and improve the timeliness of processing contributions.
NOW is the time to take stock and plan

Your Obligations

For employers of 20 or more employees, transitions to SuperStream have occurred over the 2015 financial year. If you are an employers with 19 or fewer employees you will need to transition to an electronic means of making super contributions and member updates, which comply with the Standard, between 1 July 2015 and 30 June 2016.
If you are a business client using Xero or have an SMSF on Class, you may already find you are compliant.
For all employers, complying with the Superannuation Data and Payment Standard may mean providing your default and/or choice superannuation fund/s with additional information about your employees.
Need assistance? PrimeAccounting are here to discuss options.for your transistion to SuperStream. Call us now or email michelle@tpag.com.au for more details.
Click on the links below for more information regards SuperStream and registering with the ATO via their Small Business Superannuation Clearing House.

Read More
XERO Payroll

XERO Payroll

Are you prepared for the end of financial year?

The end of financial year is a busy time for payroll so it’s time to get on top of your Payroll NOW. If you are using Xero payroll take a look at the Xero tips below to keep your sanity this end of financial year.

Read More

Read More
Trust Distributions

Trust Distributions

You need to take action before June 30

As the controller of a Discretionary Trust we need to bring some specific issues to your attention as a result of a change in approach by the Australian Tax Office (ATO) to Trust Distributions. Read More

Read More
Tax Planning 2015

Tax Planning 2015

It’s Tax Planning Time. Take control of your 2015 tax year,  avoid unpleasant tax surprises, and make a move toward better tax & business decisions. Plan NOW before the end of the financial year.
Click here to view the first of a series of tax planning alerts to help you think about what you can do to make your 2015 tax year different. With some small measures and a little planning you could:
  • Defer tax
  • Minimise tax
  • Manage your tax cash flows & change your whole approach to the “T” word

Don’t let tax get the better of you in 2015!

Need Help? Our team are ready with a tax planning process, whether you’re in business or an individual, we can provide:
  1. Projections of your taxable to income to 30 June
  2. Estimates of tax payable pre-planning
  3. Tax deferral & minimisation strategies
  4. Estimates of tax payable post-planning
  5. A 2015 tax report & action plan
  6. Peace of mind
Contact us with any questions you may have or to book your Tax Planning session now.

Read More
2015 Federal Budget Review & Tax Planning

2015 Federal Budget Review & Tax Planning

The Federal Treasurer Joe Hockey has handed down the Budget for the 2015/16 year.

This year’s approach to the Budget is vastly different from the 2014 version in that it focuses on stimulating the economy through a range of small business initiatives whilst turning an eye to creating cost savings & raising revenue with a range of initiatives that in the main should be well supported by the electorate.

Read More

Read More