As we are 2 months into 2016 already, our team here at Mark Trovato Chartered Accountants are preparing for the fast approaching end of financial year. Below are some of the topical issues in the news that may be of interest:
Any taxpayer with investment properties could be worse off under the Labor Party's plans to limit negative gearing.
Does that mean property investors should be running for the hills, or that potential investors should buy before the changes?
The Australian Taxation Office have made a number of changes to work and business related expenses as well as car deductions for 2016 tax year onwards, including increasing their data matching activities.
Please click here for more information..
SuperStream is a standard that requires employers to provide payments and the associated data to super funds in a specific electronic format.
If you have 19 or fewer employees you must start using the SuperStream standard for your contributions from 1 July 2015. Larger employers should already be using SuperStream.
Potential benefits for you include:
- the opportunity to use a single channel when dealing with super funds, no matter how many funds your employees contribute to
- less time spent dealing with employee data issues and fund queries
- reduced cost of processing contributions and payments
- more timely flow of information and money in meeting your superannuation obligations
- Please contact us if you would like more information.
For any other enquiries, please find our contact details below.
Mark Trovato Chartered Accountants
Potential changes to Super - Pre Budget Planning
Super Grab - Pre emptive steps you can take
Xero Me employee dashboard
The Xero Me dashboard will now display a summary of important information to get an overview in a single view.
The dashboard will now show:
- Summary of current timesheet (hours).
- Status and summary of the previous timesheet.
- Next pay day and previous pay day.
- List all upcoming leave for a given employee / user.