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Tax Checklists & Worksheets

Tax Checklists & Worksheets

Happy New Financial Year! Welcome to Tax Time 2015
Happy 1st July and Welcome to Tax Time 2015. Start the new financial year off on the right foot and get ready to lodge your tax return NOW.

To take away the pain of preparing your documents and make things a little easier we have provided you with our Tax Checklist and any Worksheets.

The Tax Office are now accepting lodgement of 2015 Income Tax Returns , and our team are ready to assist you, so there’s no need to wait until later in the year to get your return lodged.

The Tax Office are processing refunds as quickly as they ever have so once your return is lodged you could have your refund in your account within a couple of weeks. And if you think you may have tax to pay, why not prepare your return early this year so can be cash flow ready when the time comes for payments.

When you have all of your information together you can send it to your accounting manager or katie@primeadvisory.com.au. Of course, we are always happy to see you so you can also drop your documents in any time or mail them if you prefer.

If you have any questions relating to your tax return for 2015 financial year and tax return preparation, please don’t hesitate to call us 02 9415 1511 or send us an email.

We are all looking forward to working with you again this year.

Kind Regards,

Christian Borkowski and the PrimeAccounting team.

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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.

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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.

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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

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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.

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