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July Newsletter

Another new financial year is upon us!  Please see our short newsletter below for some information that might be of interest to all.

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Team Changes

We have recently had a number of changes to our team over the past few weeks.  To accompany our fresh new office, we now have fresh additions to our team. 

We are pleased to announce the following new staff members:

Kate Bayley - Junior Administration Assistant

Rachael Davidson - Client Services Administrator

Morgan Bacskai - Graduate Accountant

To view our full team click here...

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New Small Business Concessions

Cash basis of GST reporting now available for Businesses with turnover over $2m but less than $10m

For more information, please click here..

Other Concessions for SBE's

For a list of other new concessions available to Small Business Entities, please click here.


Single Touch Payroll

What is it?  Does it affect me?

You may have heard the this term in the media lately. Click here for more information and to see if it relates to your business.

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ASIC Scam Emails

We have recently been made aware of another new scam email going around.  ASIC will often email business name renewal advices directly to customers.  Unfortunately, the scammers have devised an email that appears very similar to the real renewal advice and is likely to confuse the business owner if they are unaware of the difference.

Please note the difference between the Real ASIC email and the Scam ASIC email below:

REAL ASIC Renewal Advice: 

Email Sender: ASIC Messaging Service ASIC.Transaction.No-reply@asic.gov.au

Subject Line: Renewal: Your Business Name

Signatory at bottom of Email:  Rosanne Bell

SCAM ASIC Renewal Advice:

Email Sender: ASIC Messaging Service ASIC.Transaction.No-reply@australiangovernment.net

Subject Line: Renewal

Signatory at bottom of Email:  Emelina Nasalroad *

* Or any other name differing from Rosanne Bell

Should you be in any doubt of any contact you receive from ASIC or the ATO, please contact our office to confirm the nature of the call or correspondence.  

 


Log Books

A common question we receive from clients is, Do we need to keep a Log Book? and How long do we need to keep it for?  The short answer is, Yes - if you do not wish to claim your car under the set rate per kilometre method capped at 5,000kms.  

You will need to keep a log book for your motor vehicle every 5 years for a period of 12 weeks.  If however, your motor vehicle use changes within these 5 years, then you will need to keep a Log Book for another 12 weeks to reflect the change in work related travel.

We have recently discovered a product that may be of interest to those who do not enjoy the task of log book completion!  These gps products attach to your vehicle through a usb or cigarette lighter and can track your kilometres through Google Maps and related product software.  Both these products are ATO Approved and can be claimed as a deduction in your motor vehicle expenses.

For more information, please take a look at:

GPS Log Book

Little Log Book

If you would like to discuss this option further with our office, please don't hesitate to contact us.

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For any other enquiries, please find our contact details below.

Contact Us.... 

Kind Regards

The Team
Mark Trovato Chartered Accountants 

www.marktrovato.com.au