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Changes in the Home Office Running Costs Deduction Rate
September 14th, 2015For employees who are conducting a portion of their work from a home office, the ATO has increased the rate of home office expenses related deductions. From the previous rate of 34 cents an hour, the fixed rate has been increased by more than 32 percent to 45 cents an hour. The employee can onlyread more
Helping You Understand Business Structures
September 10th, 2015The ATO are committed to keeping things simple and organised for business owners by making a checklist that points out the key differences between business structures. Business owners who are choosing what business structure to use or are thinking of changing from one structure to another will find this checklist very handy and informative inread more
Australian Taxation Office (ATO) and your myGov Inbox
September 8th, 2015The ATO are changing the way they communicate and are now committed to using electronic channels as their preferred means for delivery of ATO correspondence. They have implemented more modern forms of communication methods, such as SMS, email and secure messages sent to clients via their myGov Inbox. The myGov portal is a simple way toread more
The New City of Joondalup Reid Promenade Multi-Storey Car Park
September 7th, 2015Opening soon, just a few minutes away from the McKinley Plowman office is the new City of Joondalup Reid Promenade Multi-Storey Car Park. The car park is strategically located between Boas Avenue and Reid Promenade to cover a broad range of customers. Boasting its "ticketless" parking technology using license plate recognition to track vehicle entry, feeread more
ATO Launches myDeductions Tool to Application
September 4th, 2015The ATO has recently launched a new feature to its application: the myDeductions tool. The tool aims to provide a more convenient, organised and easier way of recording and storing receipts for employees who are claiming work-related expenses. Work-related car, travel, uniform, self-education and home office expenses are some of the fees that can beread more
MSI Update from McKinley Plowman – September 2015
September 1st, 2015The members of MSI Global Alliance from New Zealand and Australia bring you the latest news and updates for the month of September. This edition of the MSI Newsletter discusses the features and some of the important consequences of the new Powers of Attorney Act 2014 which has taken effect on 1 September 2015. Also featuredread more
Understand the Ups and Downs of The Australian Stock Market
August 26th, 2015Overview The last few weeks - and especially the last few days - have seen an extraordinary level of instability and volatility in global financial markets – especially in equities and some emerging market (EM) currencies. Key factors behind the market volatility Much of what has taken place in global financial markets in recent days/weeksread more
The Rise in the Preservation Age for SMSF Members
August 17th, 2015The rise in the preservation age for SMSF members has taken effect last 1 July 2015. The preservation age is the minimum age that a member can access their preserved super benefits without satisfying another condition of release. A member must reach their preservation age in order to start receiving a transition to retirement incomeread more
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