Tax Time 2018/19

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“PRAGMATIC ADVICE, WORLDLY WISDOM” When it comes to your taxes and financial advice, seek grey hair experience and wisdom over youthful exuberance.

Your locally owned accounting business offering tax return preparation and planning, accounting and business advisory services.

̭͗6ȖȵʀƸ͗ ƱƱȵʀȪɰǾȪDz ̭͗śǀɜȵ͗6ǀɜɰǾǰǾǀƸ͗ ƸʗǾɤǀɜɤ ̭͗×ʗǀɜ͗˕˗͗ʣǀźɜɤ͒͗ǀʢəǀɜǾǀȪƱǀ Glasshouse Country Accounting & Advisory Pty Ltd trading as W.D. Hall & Associates

9/21 Peachester Road Beerwah QLD 4519

(07) 5494 0566 1300 WDHALL admin@wdhallaccountants.com.au

www.wdhallaccountants.com.au

Tax Time Need taxation help? We would love to meet you!

Local accounting business Consulting Advisors was launched in 1983 by Yvonnee Bell in a demountable office at her Beerburrum home.

Her young daughter Sarah grew up surrounded by the accounting environment and in 1996 Consulting Advisors relocated to Elimbah.

With the introduction of self-managed superannuation funds, the firm launched another business in 1997, which is now known as Envoy Super.

The business grew but stayed local, relocating to Glass House Mountains in 2001 with both businesses successfully running side by side.

Sarah has now been working in the family-owned business for more than 20 years and is proud to be a third generation accountant.

When Yvonne retired in 2011, Sarah took over the family business in the shop at 6/11 Bruce Parade (between the Glasshouse Country Kitchen and now QML) and has now been in operation nearly 20 years.

Sarah said that even after all this time, people still say that they didn’t realise the shop was there.

“We offer full accounting services, including individual, partnership, company and trust tax returns, BAS preparation, book keeping, taxation advice and full SMSF service including statutory records, reporting, tax returns and arrange audits, so please drop into our office and find out how our services can help you and/or your business,” Sarah said.

As the 2019 financial year has drawn to a close, it’s the perfect time for you to take stock and evaluate whether your current SMSF administrator is right for you.

Principal services include: x Preparation and maintenance of all statutory member records and andreporting reporting x Preparation of annual financial statements x Preparation and lodgement of applicable annual returns x Advice on compliance with the fund’s trust deed and relevant legislation x Liaison with the external auditor, the actuary and the Australian Taxation Office in all matters relating to the fund x Superannuation fund establishment Ways in which Envoy Super offers you MORE: x Assured Compliance x On-Time Lodgements T (07) 54 930 584 x Up-to-date on current rules 6/11 Bruce Parade (PO Box 67) and regulations x Trust Deed Check Glass House Mountains Qld 4518 x Fixed price service – (Between Takeaway Shop & QML) no percentage base fees

Email: admin@envoysuper.com.au Web address: www.envoysuper.com.au

Specialist in Self-Managed super fund compliance and administration 18

Glasshouse Country & Maleny News

ATO puts the brakes on dodgy car claims The Australian Taxation Office (ATO) is again making work-related car expenses a key focus during tax time 2019. This follows ATO warnings last year that work-related car expenses would face greater scrutiny.

Assistant commissioner Karen Foat said the ATO was still concerned that some taxpayers were not getting the message that over claiming would be detected and, if deliberate, penalties would apply. “While some people do make legitimate mistakes, we are concerned that many people are deliberately making dodgy claims in order to get a bigger refund. We see taxpayers claiming

for things like private trips, trips they didn’t make and car expenses their employer paid for or reimbursed them for,� Ms Foat said.

The ATO’s sophisticated analytics compares taxpayer claims with others earning similar amounts in similar jobs. Where the ATO identifies questionable claims, it will contact taxpayers and ask them to show how they have calculated their claim. In some cases, where further scrutiny is warranted, the ATO may even contact employers to confirm whether a taxpayer was required to use their own car for work-related travel. “Simply driving between work and home is not

enough to warrant a deduction. You must have a work-related need to travel while performing your job, like traveling from site-to-site or be required to transport bulky tools,� Ms Foat said.

Accurate l Ethical l Strategic

EVERYTHING YOU NEED UNDER ONE ROOF Tax, Accounting, Bookkeeping

T

9-5 Monday - Friday Evenings & Saturdays by Appointment 15 Bunya Street, Maleny old church building - opp Primary School

Phone 5499 9973 admin@trilogytax.com.au www.trilogytax.com.au

Things you need to know at tax time Standard deductions There are no such things as standard deductions and the ATO has made numerous public announcements/statements advising that they are cracking down on all work-related expenses. We urge all taxpayers to ensure they have evidence to substantiate all claims if the ATO comes knocking.

Accountants & Tax Agents Shop 9, Landsborough Shopping Village Locally Owned and Operated Since 2002

Single Touch Payroll From July 1 employers must report payments such as wages, PAYG withholding and superannuation information to the ATO each time they pay employees (eg, weekly, fortnightly or monthly, depending on their pay cycle) and not just at the end of the financial year. Businesses with less than 19 employees have until September 30 to be compliant.

Many businesses are already reporting through Single Touch Payroll and will not issue employees with income statements (payment summaries). These will be made available through your myGov account or your tax agent can access them.

Michta, Bob, Katrina and Amy look forward to assisting you!

$30,000 instant asset write-off The instant asset write-off was increased to $30,000 from April 2 this year. It is important to check with your accountant before taking advantage of this small business concession as it may not be beneficial to your business.

Superannuation deduction You may be eligible to claim a tax deduction for after-tax superannuation contributions you made to a complying super fund (not the compulsory contributions made by your employer). To claim the deduction you must have:

Please give the friendly team at Range Accounting a call today to arrange an appointment.

Glasshouse Country & Maleny News

Services include: Financial Statements & Tax Returns: Businesses

of all sizes including Partnerships, Trusts, Companies managed super funds Individuals Self

(07) 5494 1133

Shop 9, Landsborough Shopping Village Extended ce Hours (July to Sept) : Monday to Friday 8.30am - 6.00pm Ordinar ce Hours: Tuesday to Friday 9.00am - 5.00pm (a er hours by appointment) 19