Payment is now due for 2016 income tax returns for companies and super funds. Assessment letters are no longer issued to these taxpayers by the Australian Tax Office. As we may have lodged your return some months ago you may have forgotten about your obligation. If you are uncertain, please contact us for details.
Changes to Super
From July 1, there will be changes to superannuation which will affect many people. One of those changes is the transfer balance cap. This means there will now be a limit on the amount of super you can transfer and hold in tax-free retirement phase accounts. Initially, the cap has been set at $1.6 million so if you already receive a pension or annuity, you will need to make sure it is under this amount. If you don’t, you may have to pay excess transfer balance tax and be required to reduce your balance.
The Bookkeeping Blues
Does the thought of doing the books keep you awake at night? As a business owner, it’s important to focus on productivity and performance without worrying about bookkeeping. You can rest easy knowing that our bookkeeping department can service, monitor and maintain your accounts for you. Using technologies such as cloud-based accounting, Peacocke Accountants can work remotely to create an efficient system that works for your business, leaving you to focus on the important things – such as getting a good night’s sleep!
Peacocke’s client Skye Lambert says our application has ‘saved so much time because it’s easy to keep everything up to date … It’s definitely freed me up a bit more.’-
Take more time for yourself with a little help from us.
Contact Peacocke Accountants for more information.