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Trying to get your tax paperwork ready? Don’t waste time on these deductions!
September 30th, 2016Many tax payers are rushing to gather together receipts for some deductions they hope they can claim. Naturally, most taxpayers are keen to maximise their deductions. Many waste time looking to claim for expenses that are often knocked back by the Australian Taxation Office (ATO). To help you save time, listed below are items and costs thatread more
Are you able to claim tax deductions for insurance premiums?
September 28th, 2016Generally speaking, the Australian Taxation Office (ATO) allows deductions for insurance premiums when there is evidence that the insurance cover relates to earning assessable income. One example of the kind of cover that may be tax deductible is income protection insurance. The ATO has allowed such claims in certain circumstances, even though the insurance policyread more
Super Changes: Proposed $500,000 Lifetime Cap Axed
September 26th, 2016The 2016-17 Federal Budget included various proposed amendments to superannuation. One of the most contentious reforms was a proposed lifetime cap of $500,000 on non-concessional contributions. Following extensive consultation, the government recently announced new developments to the proposed reforms, including the $500,000 lifetime cap which is to be scrapped. The non-concessional contributions cap will nowread more
Centrelink to Match Income Data with ATO Records
September 21st, 2016The Department of Human Services (DHS), which oversees Centrelink, has advised of a data matching project that will allow them to compare the existing income data they have with the tax return data that has already been reported to the Australian Taxation Office (ATO). Tagged by the DHS as the “Non-employment income data matching project”,read more
Building Wealth Forum
September 7th, 2016McKinley Plowman invites you to register for our “Building Wealth” information forum. Designed to equip you with the critical habits and behaviors to make you a successful investor and achieve your financial goals, please join us to find out more about the following; (more…)read more
Welcome to the 2016 Spring Edition of The Count Report
September 6th, 2016This latest edition of The Count Report, we feature ‘Don’t wait for life to happen’ that looks at how having a good financial plan in place means you’ll be better prepared for major life events when they arise in addition to being well positioned for a rewarding financial future. ‘You’ve lost that loving feeling’ looksread more
The Financial Tools Businesses Need to Survive in Today’s Enviroment
August 28th, 2016In today’s environment, it is more important than ever to know where your business is going. Western Australia, in particular, has been experiencing historical economic growth from our mining boom. But lower commodity prices have started to bite and cause a slowdown in demand. This has been having a flow on effect to those businessesread more
Visa Holders, Know Your Work Rights in Australia
August 23rd, 2016There are currently 10.5 million people of working age in Australia and out of these 2 million are temporary visa holders. It can be tricky to understand which visas offer working rights. Don’t forget pay rates and conditions are governed by Australian law and the Fair Work Ombudsman exists to help those who feel aggrievedread more
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