June 2018 Newsletter

Contents:

Last chance for employers to do the right thing with super

The government has extended an amnesty offer to employers that have failed to pay their employees’ super, warning that strong penalties await those that reject the olive branch.

The amnesty offer applies for the 12 months from today (24 May) and according to Minister for Revenue and Financial Services Kelly O’Dwyer, incentivises employers to “do the right thing”.

The top 7 EOFY Superannuation tips

It has never been more important for your superannuation for you to get ahead of the game and understand the rules before the end of financial year rush.

A raft of new thresholds for superannuation kicked in on 1 July 2017, and not updating your super settings could be … catastrophic might be a little dramatic, but it wouldn’t be far off.

Buying a home? You may need to withhold and remit GST

With the end of the financial year in sight, there is one more thing your clients will need to be aware of regarding changes to the tax landscape — especially those thinking of purchasing a residential property.

From 1 July this year, buyers of new residential premises (or “potential residential land”) will be required to withhold an amount from the contract price for GST and remit this directly …

Easy ways to use less mobile data

Save money on excess data charges and keep running on your plan’s data all month long with our simple mobile data-saving tips. Don’t worry, you don’t have to skimp on entertainment or lose touch with your mates!

Turn off Autoplay on Social Media …

 


Recent Facebook posts you may have missed:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Announcements:

This month we wish happy birthday to Brian!

​Also Dee, Andrew & Gabi rack up some serious numbers as they celebrate another years service this month. Congratulations guys!

 

 

 

 


Commonly Asked Question

What’s changing with trading names?

From November 2018, the ATO is phasing out “Trading Names” appearing on the ABN Lookup.  If ABN holders wish to have a name appearing under their ABN other than their legal name, they will need to apply for a business name registration through ASIC, a three-year registration at the moment is $82.

Example:

DJ & JM Smith (legal name), are known as “trading name” Smith Goat Farms.  If they wish to trade under a specific name, other than their legal (in this case partnership) name they will need to register it as a registered business name with ASIC.

If they trade under their own legal name, they will not need to register.

If you have any queries please contact our office!


Cloud Accounting Software Presentation

Monday 18th June at 5.45pm

Watts Price Accountants will be providing a free information session on Monday 18 June from 5.45pm to 6.45pm. The purpose will be to outline the benefits of cloud accounting software and look at the differences between the leading providers.

Seating will be limited so secure your seat today by contacting our office on 5382 3001 or email us at mail@wattsprice.com.au.

The details: Topic: Cloud Accounting Software Presentation
Date: Monday 18th June 2018 at 5.45pm
Location: Horsham RSL (Members Lounge)
Cost: FREE 
RSVP: By Friday 15th June 2018

 

 


Have you made your tax planning appointment yet?

You only have until 30 June to legitimately minimise or defer your taxation exposure for the current financial year. If you haven’t booked your tax planning appointment yet we recommend you do so now!

All the best from the Watts Price Team!