Special guest at our upcoming investment seminar will be Jon McGrath from JBWere. Jon is an expert in private wealth management who works with individuals, families and non-profit organisations to help protect and grow their wealth in a conservative manner. The event will be held at our office at 6pm on September 28. Register your interest at http://tinyurl.com/ydzyk89a, call 6885 5594 or email firstname.lastname@example.org
And there is wine!
Did we mention that if you register for our upcoming free investment seminar and bring a friend, you will have the chance to win a bottle of wine! What could be better than investment advice and some lovely vino! The fun begins at 6pm on 28 September at our Darling St office.
Single touch payroll
A limited release of Single Touch Payroll began for a small number of digital service providers and their clients on 1 July 2017, with Single Touch Payroll operating with limited functionality for a select number of employers.
This month, the ATO will write to all employers with 20 or more employees to inform them of their reporting obligations under Single Touch Payroll. By April 2018, employers will need to do a headcount of the number of employees they have to determine if they need to report through Single Touch Payroll. By July next year, Single Touch Payroll reporting will be mandatory for employers with 20 or more employees.
For a short time only, super fund members will be able to avoid issues with balance cap transfers. Those with pensions exceeding $1.6 million on 1 July 2017 may face adverse tax consequences. However, there is a transitional provision that permits a minor excess over $1.6 million to be ignored, subject to certain conditions being met.
That is, if the value of the pension interests exceeded $1.6 million by no more than $100,000 and the member is able to commute the pension by an amount that is at least equal to that excess no later than 31 December 2017.
The no transfer balance cap will accrue on the excess and no excess transfer balance tax will become payable so it is important to deal with this promptly, if applicable.
The winds of change
Change has always been a constant in the accounting industry. But the rise of the cloud, increasing client demands and technology advancements have sped this rate of change from a steady trickle to a torrent. Now, everything in accounting is different. While we may have changed some of our operating systems, what hasn’t changed is our dedication to customer service, and you the client will always come first.
Earning his racing stripes
Stepping into the shoes of some of his racing idols, Dubbo’s Josh Behn is competing with Anglo Motorsport in the NSW Formula Ford Kent Series for 2017. Currently running second out of 24 drivers, Josh is zooming his way into racing history as Formula Ford is one of the most important stepping stones for professional racing drivers such as Craig Lowndes, Mark Webber, Mark Winterbottom and Daniel Ricciardo, who have all raced Formula Ford. Josh is the son of one of our clients, well done! We are very pleased to hear of your success.