Perth, Western Australia & Nannup, South West WA – Tax Choice

001 002 003

Latest Tax News

Newsletter July 2018

Hello & welcome to another Tax Year!

You can find a Tax Update Form on our website to add to your documents here.  This form is required with all paperwork submitted to our office. Completing this document ensures we have all the correct details for you on our database which will mean a smoother, quicker preparation of your Return.

Both our Nannup & Stirling offices will be open 6 days a week from July until the end of October.  Please telephone or email to make your appointment.

Documents may also be emailed to our offices, mailed (using our PO Box addresses) or dropped off to reception.

Our contact details are listed below.

Stirling                                                                 

9349 3000

adminstirling@taxchoice.net.au

PO Box 1302, INNALOO  WA 6918

Nannup/South West

9756 1999

admin@taxchoice.net.au

PO Box 156, NANNUP  WA  6275

Personal Superannuation Contributions

Salary and wage earners are now entitled to a deduction for contributions to a complying fund subject to certain caps.  Please speak to your accountant for more information.

$20,000 Deduction for Small Business

From 12th May 2015 small businesses with annual turnover of below $2million are eligible for an immediate write off for plant & equipment used for business purposes inlcuding tools & machinery, computers, laptops & motor vehicles.

Please note the ATO will be scrutinising any private use of these assets & log books will be required for motor vehicles that are not considered commercial & used predominately for business purposes.

Before completing BAS statements it is advisable to contact us to ensure correct labelling & completion.

Medicare Levy Surcharge Income Threshold Table

 
Base tier Tier 1 Tier 2 Tier 3
Single threshold $90,000 or less $90,001 – $105,000 $105,001 –$140,000 $140,001 or more
Family threshold $180,000 or less $180,001 – $210,000 $210,001 – $280,000 $280,001 or more
Medicare levy surcharge 0% 1% 1.25% 1.5%

Note: The family income threshold is increased by $1,500 for each Medicare levy surcharge dependent child after the first child.

Don’t forget to follow us on Facebook to get regular updates & tips from our team!

Follow us on facebook Follow us on twitter