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Changes as From 6 April 2012 to UK Pension Transfers
June 25th, 2012Legislation has now been passed by HM Revenue & Customs which change the QROPS rules for transferring UK pensions to Australia as from 6 April 2012. The changes are to try to stop UK residents from transferring their UK pension money to a QROPS pension scheme based in a foreign country with a liberal pensionread more
Warning – Review Your Super Contribution to Avoid Excess Tax Penalties
June 25th, 2012Concessional superannuation contributions are employer contributions as part of the super guarantee or a salary sacrifice arrangement, or personal contributions for which you claim a tax deduction. There are limits on how much you are able to contribute as a concessional contribution. For this financial year the limits are $25,000 if under age 50 andread more
Thinking Ahead – What Successful Businesses are Doing
June 25th, 2012MP+ Strategic Management Reporting You need to know how your business is performing but don’t have the time to spend on generating those numbers into a format that makes sense and can enable you to put plans into action ? We have developed our management reporting pack to link in with your accounting system toread more
Tax Planning Pointers for Individual Tax Payers
June 25th, 2012Zone Offset - record the number of days that you spend in Zone A or B, especially if you live in Zone B but spend some time in Zone A during the year. Private Health Insurance - from 1/7/12 the 30% private health insurance rebate will be income tested. High income earners should consider prepaying their privateread more
Sales and Marketing Tips
June 25th, 2012Point of Sale Promotions About one third of customers will take up a special offer linked to their current purchase. How can you package products to include companion sales items to increase the total sales value from the sale transaction? Testimonials You can assist your customers or potential customers to make a decision if theyread more
Tax Planning Pointers for Business 2012
June 25th, 2012Small Business Entity Rules Small Business Entities - the small business entity rules apply to a sole trader, partnership, company or trust which has a group turnover of less than $2M in the previous year, or likely to be less than $2M in the current year. Depreciation Rules - if the asset costs less than $1,000 itread more
Boardroom Briefings
June 25th, 2012Stay Tuned Free seminars are planned to begin shortly at McKinley Plowman. Topics such as profit improvement strategies, tax updates, investment strategies. Featuring Industry specialist speakers. Sessions are fully interactive. Limited to a small group setting. Great opportunity to catch up with like-minded people and get to know other business owners. If you have any questions,read more
Private Health Insurance Rebate Changes
June 25th, 2012From 1 July 2012, the Government will introduce three new “Private Health Insurance Incentives Tiers”. These changes include the means testing of the 30% Private Health Insurance Rebate. As a result, your private health insurance premiums may increase dramatically in the 2012/13 financial year. A strategy that you may consider if the above reductions areread more
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