Build your financial security with OBT Financial Group – Lockyer Valley’s Business of the Year 2015 and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 30 years.
Small Business Superannuation Clearing House users – want to claim a deduction for super contributions? Your super payments must be accepted by 23 June 2020.
FREE Working from Home ATO factsheet
If you work from home right now, remember to keep records and receipts for your home office expenses, along with a record of the hours you work from home. Keeping good records now will help to get your deductions right at tax time. The ATO has a PDF poster you can download to help understand what you can claim.
Fringe benefits tax and Christmas parties
Reminder about potential FBT implications for celebrating with employees this festive season. FBT obligations depend on the amount spent, when and where a party takes place, who attends and the value and type of gifts given.
Meet your PAYG Withholding Obligations or lose your tax deduction
Are you meeting your Pay As You Go (PAYG) Withholding obligations? If you are running a business, you can no longer claim deductions for payments to employees or workers if you have not met your PAYG obligations. This applies to tax returns lodged for the 2020 year onwards
No tax deductions for unmet tax obligations
Don’t lose your tax deduction for your employee or contractor payments. Do lodge your BAS on time and lodge your STP events every time you pay wages and withhold the correct amounts from your payments to employees and subcontractors. Read why.
Superannuation tax hints
Superannuation is a very tax-effective vehicle to save for retirement. We outline some tips to help you maximise your super.
Tax tips and tax return hints
Find out if you’re entitled to the following tax offsets (rebates) and deductions for the year ended 30 June 2019.
2019 Tax Planning
In the wake of this month’s Federal Election, our combined focus needs to be on how you can save tax before 30 June 2019! Here are 2 key areas that will affect you in the short term.
On-time BAS lodgement important more than ever
Read why, from 1 July 2019, if you don’t meet your PAYG withholding obligations for your workers, by not deducting tax from their payments and not reporting it to the ATO, you could lose your deduction.
What the 2019 Federal Election means for you!
We’re not trying to recommend who you should vote for, but instead we believe that it is vital that our clients understand how they will be affected by the result of the Election.
