Newsletter July 2018

July 2018 Newsletter

Contents:

Council urged to share rates burden

FARMERS across the region spoke out about rate disparity in their councils last month.

Wimmera and Southern Mallee councils Horsham, Yarriambiack, Northern Grampians, Buloke, Hindmarsh, West Wimmera and Ararat all held meetings during the last fortnight to adopt their 2018-19 Budgets.

 

New SMSF scam warns ATO

Dodgy operators are rolling out sophisticated early access to super schemes for taxpayers this tax time, and SMSF set-up could form part of a trap clients can fall victim to.

The perpetrators are surfacing in suburban areas of major Australian cities, including a concentration in Western Sydney on the east coast.

ATO to contact 1 million taxpayers over common mistakes

The ATO will be contacting over 1 million taxpayers either directly or through their tax agent in the coming months as part of its compliance activity, and has revealed the most common trouble spots for taxpayers at tax time.

With tax time 2018 beginning this weekend, the ATO has continued its ongoing education campaign by publishing the five most common mistakes seen from its audits and reviews from previous years.

2018 Annual Wage increase

The Fair Work Commission (FWC) has today handed down its annual wage review decision. The decision will increase the national minimum adult wage by 3.5%. This increase will be applicable from the first full pay period commencing on or after 1 July 2018.

The new national minimum adult wage will be …


Recent Facebook posts you may have missed:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Announcements:

This month we wish happy birthday to Joanne & Paula!

​Also Brian celebrates another years service this month (the 28th would you believe). Congratulations Brian!

 

 

 

 

 

 


Commonly Asked Question

Have the tax tables changed? 

Yes – anyone that is using older payroll software or calculating wages manually should check the ATO website for the new Tax Tables.

https://www.ato.gov.au/Rates/Tax-tables/

If you have any queries please contact our office!


Have you moved your accounting software to the cloud yet?

We have had more than 20 businesses in the last few weeks move from desktop accounting software to new cloud accounting software. It’s the ideal time to consider a move, so if you are interested in:

  • spending less time inputting data
  • greater accuracy
  • greater mobility
  • ability to share your file with multiple users simultaneously
  • ability to integrate with other great apps

then give us a call to discuss whether or not moving to the cloud is the right option for you.

All the best from the Watts Price Team!