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New FBT rate and gross-up rates will apply from 1 April 2014.


New FBT rates are as follow


• 2015 FBT rate is 47% which is an increase of 0.5% from the 2014 FBT year


2015 Gross-up rates:
• Type 1 benefits grossed-up by 2.0802 (increased from 2.0647)
• Type 2 benefits grossed-up by 1.8868 (increased from 1.8692)


In the 2014 Federal Budget, the FBT rate will be further increased from 47% to 49% from 1 April 2015 until 31 March 2017 to align with the FBT year

Contact us today on 1300 300 106 for further information about our Cranbourne Tax Accountant and Cranbourne Tax Agent Services.

As an Accountant in Cranbourne, we help small business by improve their earnings and cash flow minimizing their income taxes.

We know it is crucial for small business owners to assess the overall performance of business activities and discover both negative and positive tendencies in the company which could help in early recognition of possible concerns for cash flow and profits. This assists the business owners/managers to make critical choices in the preparation of your business expansion strategy.

Each and every sector is unique and every business within that sector is distinct, rendering it distinct in the procedures and therefore the key drivers vary for each business. It is important to know the business and its procedures to be able to take on the business analysis.

We assess business efficiency by being focused on areas which include profitability, cashflow and liquidity, efficiency, financial planning by using some procedures and key performance indicators.

At Booksmart Accountants Cranbourne, we can assist small business owners in their business review to enable you to recognize how your small business is doing when it comes to profitability, cash flow, budgets and prepare for expansion. 

Call Tax Accountants Cranbourne at 1300 300 106 for further information.

As a tax agent Lyndhurst every so often we encounter clientele with cashflow difficulties and they are experiencing difficulty paying their tax obligations by the due date. We are able to assist businesses, sole traders etc with paying their outstanding tax owed for GST, PAYG, Income Tax etc by organizing the repayment plan of outstanding tax debts or remission of general interest charge (GIC), with the ATO.


If your ATO debt is under $25,000 you can easily call the ATO and proceed through an automatic phone process to organize a payment plan. Usually your request is going to be approved given the entire debt is paid off within 12 months.


Don’t disregard the mail from the ATO; it may be debt statements, winding up notices, Director’s penalty notices etc. If that happens you need to communicate with the tax office, sometimes communication and negotiation may help the situation.


Whatever is necessary, we will assist you to sort out a plan, therefore we give you support throughout the entire process.


Make a repayment. It does not need to be the entire sum – simply make a contribution to demonstrate that you s are conscious of the debt and dedicated to paying back the funds. Frequent repayments (regular weekly or monthly) usually prevent the debt collection notice for quite a while.

Even if you have an outstanding debt with the ATO, make sure you do all your lodgements on time as it affects your compliance with the ATO and if you are compliant, it makes the negotiation process lot easier.


Contact us today on 1300 300 106 if you are facing issues paying the tax debt and we will help you sort it out.

Importation of goods is the transport of goods from a place outside Australia to their place of consignment in Australia.


The place of consignment states
• The transport or other services that brought goods to Australia will be GST Free
• The extent of the transport and other service cost will include in the value of taxable importation will determine the value of GST payable on import.

The goods brought to Australia by international transport are GST FREE. Also, any other charges such as supplies of loading, handling and other services will also be GST FREE.


The subcontractors who provides transportation services within Australia will be a taxable supply and subject to GST, if the subcontractor is registered for GST.


However, if the subcontractor provides international transport to non resident, who is not in Australia is GST free. Also, any supplies of loading, handling and other services will be GST FREE as well.


The GST payable on importation will depend on
• Transport cost and insurance charges under the agreement.
• Cost of loading, handing and other services provided to facilitate the transport of goods.

At Booksmart Accountants Cranbourne, we can assist small business owners in their business review to enable you to recognize how your small business is doing when it comes to profitability, cash flow, budgets and prepare for expansion. 

Call Tax Accountants Cranbourne at 1300 300 106 for further information.

Few things you might want to tidy up as a business owner now:


Reconcile your bank account.


Make sure you have the stock take values at the end of financial year.


Reconcile the payroll accounts and issue payment summaries.


Reconcile any outstanding GST liability with the ATO statement.


Reconcile the vehicle lease accountant to ensure interest is accounted for in the books.

If you are getting overwhelmed with all of this, contact us on 1300 300 106 and we can help you sort out the end of financial year processes.

 

Call Tax Accountants Lynbrook at 1300 300 106 for further information.

fast turnaround

mobile service

Individual tax returns from $99 - $120