December 2013 Newsletter

With the end of the year nearly upon us, please be advised that GJB will close for our Christmas / New Year break from Friday 20 Dec 2013 and reopen on Monday 13 Jan 2014. If you have anything that needs our attention or input, please let us know in the next few weeks. Meantime, if you need to make the most of your Christmas cash flow budgeting or need to clarify FBT at this time of year, click here to avail yourself of our useful tools.

Your SELF
With the bushfire season already making an earlier start than hoped, we run over the tax implications of natural disasters, and what you can do to be better prepared should essential documents and records be destroyed.

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Your BUSINESS 
The Coalition has stood by its promise to repeal the mining tax, but an unexpected part of this process is a much-earlier repeal of the business deductions that are tied in with it. Capital allowance concessions, specifically the $6,500 instant asset write-off and $5,000 immediate vehicle deduction, are to be wound back to previous levels from next January, not next July (which is the date of effect for the mining tax repeal).

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Your SUPER 
We also take a look at estimates for how much a person should have put aside before considering establishing an SMSF, the circumstances where borrowing costs and loan interest can be claimed as tax deductions, and sketch out the new rules for dealing with excess superannuation contributions.

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Contact Us
Should you require more information regarding any topic touched upon in this newsletter, please feel free to contact GJB on 02 9686 3130 for personal or business advice.

Drop in for a coffee and a chat?

Kind regards,             


www.gjbarnett.com.au

Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. 

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In this Issue:

Your SELF
Your BUSINESS 
Your SUPER
Contact Us
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