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News and information

Tax Man comes knocking

Tax Man comes knocking

Added on 05 February 2018

  The ATO has revealed it will continue a crackdown on businesses that rely on cash payments, noting that $143 million in tax and penalties were collected last year from firms mishandling cash accounts. In a note to tax professionals, the ATO revealed that it "will begin more … visits around the country soon” as part of its Protecting Honest Business campaign. "While we know not every business is doing the w... READ MORE


ATO looks to advise credit agencies

ATO looks to advise credit agencies

Added on 25 January 2018

  The federal government has released draft legislation to allow the Australian Taxation Office to tell credit reporting bureaus that a business is not actively trying to repay an outstanding tax debt. Originally outlined in the 2016-17 Mid Year Economic and Fiscal Outlook, the government estimated in December 2016 that the policy would cost $27 million over four years to implement, but would produce a reve... READ MORE


Streamlined Superannuation reporting with Single touch Payroll

Streamlined Superannuation reporting with Single touch Payroll

Added on 25 January 2018

  Businesses failing to pay superannuation could be hit with court-ordered penalties and even 12-month prison stints under draft legislation released this week. On Wednesday, Minister for Revenue and Financial Services Kelly O’Dwyer said the draft legislation aims to protect workers’ super entitlements, while modernising the way the super guarantee is enforced. Marking the release of the draft laws, she said, "It is n... READ MORE


Don't pay the Lazy tax

Don't pay the Lazy tax

Added on 22 November 2017

With the number of products available, comparing home loans can be a daunting experience. For this reason most of us don't consider reviewing our current home loan and making  a move from our current lender. This can be costly and have disastrous effects for your finances in the long run. Banks rely on personal inertia to extract a Lazy Tax - the extra premium they make on the difference between the rate they charge... READ MORE


4 tips to better manage your cash flow

4 tips to better manage your cash flow

Added on 15 November 2017

Everyone would love to have not only the cash flow to pay all our bills on time, but also to be organised enough to do so. Ultimately we prioritise payments based on the importance of the supplier, credit terms, discounts offered for early/on-time payments, but most importantly on the financial penalties imposed on late payments. Sometimes penalties/interest exceed the original fee or interest on credit cards in particular can... READ MORE


Tax Deadlines

Tax Deadlines

Added on 14 November 2017

If you are worried that you may have missed the much publicised lodgement deadline for individual Income Tax Returns, worry no more…. That deadline of 31 October 2017 only applies if you lodge your own income tax return. Etairos receives the tax agent lodgement extension for the majority of our clients, meaning that lodgement is required by 15 May 2018 for 2017 Income Tax returns, not 31 October (earlier dates may apply for ... READ MORE


SBE Capital Expenditure Concessions

SBE Capital Expenditure Concessions

Added on 13 November 2017

In the May 2017 Federal Budget, the $20,000 immediate write-off tax concession was extended by another year, so whilst being available for 2017 as legislated the previous year, it is also available in 2018. This means that if you need capital items and they have a cost of less than $20,000 (net of GST), then they can be deducted against your income 100% in 2018, not depreciated and that expense claim spread over the following ... READ MORE


7 years since the last rate increase

7 years since the last rate increase

Added on 03 November 2017

It's been seven years since the last time the Reserve Bank of Australia raised interest rates. The last time they did the AFL grand final between Collingwood and St Kilda resulted in a draw, the Commonwealth games were in Dehli and Steve Jobs and Osama bin Laden were still alive. It was seven years ago today, and the RBA board has met 76 times since, cutting rates 12 times with not one increase. The result of this month’s m... READ MORE


6 things you need to know before you set up an SMSF

6 things you need to know before you set up an SMSF

Added on 15 September 2017

The decision to take control of your superannuation and establish a Self Managed Super Fund (SMSF) will be one of the most important financial decisions that you will make.  Establishing a Fund can be a great way to take control of the dollars you're saving for retirement by putting you in the driver's seat when it comes to all decisions - investments, insurances, management - in relation to your fund. For people whose ci... READ MORE


Interest rates to rise but not for a while: RBA

Interest rates to rise but not for a while: RBA

Added on 14 August 2017

Despite optimistic comments that suggest the high Australian dollar is ­increasingly the main impediment to mortgage rates, the Reserve Bank of Australia believes they are more like to rise than fall.  Speaking in Melbourne at his six-monthly testimony before a key parlia­mentary committee, RBA Governor Philip Lowe said he "didn’t want to dissuade” anybody from the idea that, gradually, "the average level of rates w... READ MORE


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Latest from the blog

Federal Budget 2021 06 October 2020

Federal Budget Summary The Federal Treasurer, Mr Josh Frydenberg, handed down the Government’s delayed 2021 Budget last night – 6 October... READ MORE

JobKeeper Update and Critical Retest 23 August 2020

  Doing nothing is not an optionUnder the JobKeeper 2.0 changes announced in July by the Federal Government, JobKeeper 1.0... READ MORE

We're Hiring 07 August 2020

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“These guys have saved my bacon during covid19. Took a lot of the stress out of being self employed and parked up due to lockdown. Not only reduced my annual accounting fees over my previous accountant but also did all the Jobkeeper (and lifesaver) applications and gave advice on my behalf because they know better than me what to do. Previous accountancy was charging hourly rate for the same service but these guys said it is all part of supporting our customers. A+++++++” more testimonials

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