Entries by admin

Mature age worker tax offset phase out

As part of the 2012 Federal Budget, the government announced that from 1 July 2012, eligibility for the mature age worker tax offset will be confined to taxpayers born before 1 July 1957. This means taxpayers must have turned 55 prior to 1 July 2012 to receive this offset. The offset remains unchanged in all […]

Fuel tax credit rates are changing from 1 July 2012

You may be affected by Fuel tax credits – changes from 1 July 2012. These changes relate to: liquid fuels used in some off-road business activities the introduction of a carbon charge that reduces the rate in some activities a decrease for heavy vehicles travelling on a public road gaseous fuels some blended liquid fuels. […]

Your super

Introduction Super is big business. With $1.3 trillion sitting in Australian super funds and over $18 billion in lost super, it’s important to make sure super is working. The Australian Government is making a series of improvements to super over the next seven years to help protect and grow the savings of all Australians. The […]

WARNING: Fraudulant Email

WARNING: A phishing email claiming to be from the ATO is currently circulating. The ATO will never send you an email requesting you to confirm, update or disclose confidential details via an insecure channel such as email. Dear ______, After the last annual calculations of your fiscal activity we have discovered that you are eligible […]

Update on DPN Laws

Since the amended Directors Penalty Notice (DPN) law came into effect in June last year we have observed a consistent but not excessive flow of Director Penalty Notices initiated by the ATO. This new DPN regime has been well socialised by the ATO and we believe that the potential personal liability exposure of company directors […]

Increase in Superannuation Guarantee

In the coming months there will be a lot of information about super reforms and advice on how this will change your obligations as an employer. The first round of changes includes: a gradual increase to the super guarantee rate – you will need to increase super guarantee payments on behalf of employees to a […]

Home loan bungle costs bank $12m

BANK of Queensland will refund customers $12 million after an error led them to pay too much interest on home loans. BOQ discovered that it had failed to link offset accounts to home loan accounts for at least 6000 customers for a number of years. The mistake meant that money held in those offset accounts did […]

Letter of thanks.

Dear Malcolm, Thanks for the marvellous job, regarding my tax estimation. I will certainly use your services again, and have started referring friends and family already. I’ll personally come in to pay and thank you for your service. Kind regards, Bronson (By Email)

Thanks for your blog posts

I want to thank the blogger very much not only for this post but also for his all previous efforts. I found namroservices.com.au to be extremely interesting. I will be coming back to namroservices.com.au for more information. (Comment posted on website)