September 2018 Newsletter

Please click on the following link to view our monthly accounting/tax newsletter for September 2018:

September-2018

We would like to highlight the following articles in this month’s newsletter:-

Excess super after tax contributions – The ATO is reminding taxpayers that they may have to pay extra tax if they exceed their non-concessional / after tax contributions cap. As a reminder, the non-concessional cap for individuals is $100,000 (or $300,000 over three years for people aged under 65). If you are thinking about making additional super contributions, please contact us to discuss.

Calls to increase asset write-off – The Australian Small Business and Family Enterprise Ombudsman has called for the $20,000 instant asset write off for small businesses to be embedded in legislation and extended up to $100,000 every three years. Just a reminder that during the current 2019 financial year, eligible small businesses can write off the cost of eligible assets costing less than $20,000. Again, just contact us to discuss.

If you have any queries in regards to your tax and accounting matters, please do not hesitate to contact us to discuss further.