August 2014 Newsletter

AUDIT INSURANCE REMINDER to either accept or decline your policy renewal so we can make sure you're fully covered in FY2015. Contact GJB for more details and be sure to ask about our industry Benchmark MINDER service as an extra precaution.

#SoWhatsInThisEdition

A vindication for your making the sensible decision to seek out professional advice can be to find that the costs of doing so are deemed tax deductible. While the deduction rules for professional consultation on tax affairs are typically straightforward, when it comes to investment advice there are certain differences in regulations you should be aware of. We have also uncovered a possible tax deduction where tax advice is provided by a financial planner. This is due to a recent law change to the Tax Agents Services Regime.

We look at what the Tax Office says are common tax deduction errors made by rookie property investors, spell out the Tax Office's powers under the law when it comes to accessing to your information, and run through the areas coming under its scrutiny for SMSF compliance issues in the year ahead.

On a positive note, the Tax Office is also seeking input from savvy small business owners to help it build its small business expertise. You can apply to join its consultation panel and even be paid for your efforts if successful.

 

Learn more about this...


 

#yourWAY
Embracing cloud accounting your way is part of GJB's vision to help our clients streamline their data processing and save time on generating paperwork to collaborate and explore the other possibilities of their businesses, and address the issues that matter in a more timely, meaningful manner. With the release of MYOB Essentials, making the transition is even easier.

                                                   Learn more about this...

Contact Us
Should you require more information regarding any topic covered in our newsletter, please contact GJB on 02 9686 3130 for advice on #yourself, #yourbusiness or #yoursuper.

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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