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Articles by McKinley Plowman

Fringe Benifits Tax (FBT)

March 28th, 2013

Did you know that tax is payable on 'payments' to an employee that are made in a different form to salary or wages (non-cash benefits)? Common benefits include the provision of a company car, meals and entertainment, and expense payments on behalf of employees. This tax is referred to as Fringe Benefits Tax (FBT). Employersread more

Individuals – 30 June is Fast Approaching

March 28th, 2013

The end of the financial year is fast approaching and it’s time to start planning to prepare for your 2013 Income Tax Return. Now is a good time to start thinking about your tax affairs. Some things you could look at are: Make sure you gather all your receipts to claim work-related expenses that exceedread more

Businesses – 30 June is Fast Approaching

March 28th, 2013

The end of the financial year is fast approaching ad it’s time to start planning to prepare for your 2013 Income Tax Return. Now is a good time to start reviewing certain assets and liabilities owned by your business and consider what should be done prior to 30 June 2013. Some suggested areas for reviewread more

Changes To How We Look After You

March 28th, 2013

We listen very closely to all feedback provided by our valued clients. As a result, we are soon to implement some changes which will improve the way we look after you. Some of the changes include: Providing our business clients with a fixed quote before starting the year end work, offering more of our servicesread more

Trusts & Resolutions

March 28th, 2013

A reminder that trusts require trustee resolutions relating to distributions to be made by the end of the income year. Please note that this requirement has been a strong focus point by the ATO recently. This resolution will determine who is to be assessed on the trust’s taxable income. Please see the article on Taxread more

Business Conditions Still Rocky

March 28th, 2013

The Reserve Bank has announced that interest rates will remain on hold at 3%. There are some expectations by economists that the Reserve Bank could announce another cut in the next couple of months and, by later in the year, interest rates could start to rise. The federal election will cause some uncertainty for manyread more

Boardroom Briefing

March 28th, 2013

This Boardroom Briefing will focus on buying property through a Self Managed Super Fund (SMSF) When is the next Boardroom Briefing Topic Venue Date & Time Property in SMSF A focus on SMSFs andthe ability to borrow and buy property McKinley PlowmanLevel 2, 5 Davidson Tce,Joondalup WA 6027 Tuesday 7 May 2013Arrive at 10:45am for 11am StartConcludesread more

Loss Carry Back for Small Business

March 28th, 2013

As noted in our September newsletter, starting in the 2012-13 income year, companies (and entities like companies) will be able to carry back up to $1 million of tax losses incurred in the 2012-13 year to offset against tax paid in the 2011-12 income year. From the 2013-14 income year, tax losses will be ableread more

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