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The TOP 10 BEST Tax Accountants in Machans Beach QLD

Top Machans Beach QLD 4878 Tax Accountants

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LBA Partners

cm0gbv6t3000d08l7esl31urv Accessing super from age 60 to 65

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From 1 July 2024, the rules for accessing superannuation became somewhat simplified: the preservation age when you can begin to access your benefits is now effectively age 60. However, until you reach age 65, there are still potential restrictions on how you can access your super. If you’re aged between 60 and 65 and wish to access some of your super, now is a good time to re-examine the rules.

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LBA Partners

clzwbc7xa000w08jo5duw5upu Super guarantee a focus area for ATO business debt collection

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The ATO has reported that superannuation guarantee (SG), along with other business debts, will be a focus area in 2024–25. The most recent statistics show that the ATO is collecting over $1 billion a year in SG charge, which means some Australian businesses are incurring additional superannuation liabilities that could have been avoided if they had paid SG on time. Find out why getting on top of any problems early is essential for your business.

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LBA Partners

clzm0iaz8001v08l871bw1mzh Claiming the tax-free threshold: getting it right

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If you’re an Australian resident for tax purposes, you don’t have to pay income tax on the first $18,200 you earn each year. Where you have multiple jobs, change employers during the year, have a side gig or get government payments, it’s important to think about the tax-free threshold and which employer, job or payment you’ll claim it for. Getting this right will help avoid an unexpected tax debt when lodging your return.

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LBA Partners

clzc9i426001t08if7lls2o9u Deadline extended for NFP self-review returns

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Addressing concerns raised by the NFP sector about the readiness and capacity of organisations to meet the original 31 October 2024 deadline for lodging their first NFP self-review returns, the ATO has extended the deadline for lodgment to 31 March 2025. The extra time will allow NFPs to work through the new rules to determine their tax-exempt status and the practicalities of lodging their first return using the ATO's Online services or Self-help phone service.

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LBA Partners

clz2a1asz002y08l97llm4pk0 Motor vehicle expenses – which method should my business use?

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Your business may be eligible to claim deductions for motor vehicle expenses incurred for business use. Running costs, insurance, interest and lease payments, and depreciation are all potentially claimable. However, the method to use for working out your claim depends on your business structure and the type of vehicle you’re claiming for. Know the rules and make sure your business is claiming the deductions it’s entitled to.

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LBA Partners

clyi8zm43000m08jq7ngl6qjk Tax incentives for small businesses this tax time

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As lodgement time once again approaches, business owners should be aware of the key changes in the 2023-24 tax return which may benefit their bottom line in the form of paying less tax. Specifically for small businesses, there are 2 incentives available for certain costs incurred in the 2023-24 income year: the small business instant asset write-off and the small business energy incentive. In addition to these small business specific incentives, Australian companies of all sizes may be able to claim the digital games tax offset (DGTO).

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LBA Partners

cly89xdg5000g08ku27gq29mh Get your employees’ super and payroll right for the new financial year

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As the new financial year begins, employers need to keep an eye on various payroll activities to make sure their employees’ pay and superannuation contributions are processed correctly and at the right times, especially with a number of changes and rate adjustments coming into effect from 1 July 2024. Are you keeping on top of these considerations at this busy time of year?

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LBA Partners

clxy2lrx5000d08jq9w507doq Tax time reminders for small businesses from the ATO

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Tax time is approaching rapidly, and the ATO has reminded small businesses of a number of areas they should be thinking about in the lead up to preparing their tax return and looking forward to 1 July, including STP obligations; PAYG instalments; and reviewing their tax-deductible expenses, eligibility for small business concessions and their overall record-keeping. The ATO has also highlighted its self-paced online learning platform for small businesses to help small businesses understand their tax obligations.

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LBA Partners

clxe78r03000d08l012yeg2qx New annual reporting obligation for NFPs

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Non-charitable NFPs that self-assess as income tax exempt must lodge an annual self-review return with the ATO from 1 July 2024 to confirm their eligibility for their income tax exemption. The NFP self-review return for the 2023-24 income year can be lodged using the ATO's Online Services for business, or a registered tax agent can lodge on behalf of the NFP using the ATO's Online Services for agents. NFPs will need to annually confirm or update information on a pre-populated return after the first NFP self-review lodgment.

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LBA Partners

clx2lbqbo000j08l9eniu8vza Early access to super for dental work

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ATO statistics have shown a steep rise in the dental subcategory of medical expenses for the compassionate release of super, leading to the Dental Board of Australia raising their concerns regarding dental practitioners encouraging patients to access super in order to fund their dental care.

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LBA Partners

clwu9dexa000b08l6578sdq1v Div 7A loans: minimum repayments

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As the end of the financial year approaches, along with the company lodgment date, now is the time for the decision-makers of private companies to ensure that arrangements are made for loans to shareholders and associates to be repaid before the company lodgment date, or alternatively, to ensure that complying loan agreements are in place. This avoids the application of Div 7A, which captures payments such as loans to shareholders and associates and treats them as unfranked dividends.

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LBA Partners

clwk9gujn000n08l45vef3ff0 Get ready for tax time 2024

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The end of the financial year is fast approaching and with that, tax time 2024 is kicking into gear. As with previous years, the ATO has flagged three primary areas where taxpayers frequently make mistakes. These consist of incorrect claims of work-related expenses, inflated rental property claims, and the omission of income from tax returns. The ATO recommends that taxpayers not lodge too early, and instead wait until the end of July or later to lodge, to avoid having their returns flagged as incorrect by the system.

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LBA Partners

clwaa0jjc001c08jr8t7fhewj Federal Budget 2024: Business Measures

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Treasurer Jim Chalmers has handed down the 2024-25 Federal Budget. The major tax-related measures concerning small to medium enterprises (SMEs) and businesses announced in the Budget include: the extension of the instant asset write-off for small businesses; changes to the foreign resident CGT rules; extension of energy relief payments to small businesses; Future Made in Australia tax incentives; extension of the BAS notification period; more funding for the ATO; the extension of existing ATO compliance programs; and funding for the new Administration Review Tribunal.

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LBA Partners

clw08opyi000c09jv4s5cdofb ASIC warns consumers to beware of cold callers

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ASIC has issued a warning to consumers to remain vigilant against high-pressure sales tactics and deceptive online advertisements used by certain cold calling operations to offer unsuitable superannuation switching advice. It has expressed particular concern about these practices, noting that individuals aged between 25 to 50 - the primary targets of these operations - are at risk of significant retirement savings depletion due to a combination of reduced super value owing to unsuitable investments, excessive fees, and/or other charges.

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LBA Partners

clvq8qzjj000b08jz3mmjeoik Navigating complexities of crypto investments: SMSFs

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The digital currency landscape continues to be treacherous terrain for Self-Managed Super Fund (SMSF) trustees, with a growing number of reports indicating significant losses due to a variety of factors, including scams, theft, and collapsed trading platforms. The ATO is urging trustees to educate themselves on the potential pitfalls of crypto investing, including the fact that many crypto assets are not classified as financial products. This means that the platforms facilitating their trade often lack regulation, increasing the risk of loss without recourse.

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LBA Partners

clvg9axsm000h08jxcdr5359z Trust reporting changes from 1 July 2024

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Trustees and beneficiaries should be aware that reporting changes as part of an ATO Trust Administration Systems project will be occurring from 1 July 2024. From the 2023-24 income year and onward, four new capital gains tax (CGT) labels have been added into the trust tax return statement of distribution which trustees will need to be aware of. In addition, a new schedule will also be introduced for all trust beneficiary types, and new data validations will be added.

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LBA Partners

clv68yqgs000b08jv5ui6cuje Old ATO debts: IGTO weighs in

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ATO’s recent actions to activate debts, some decades old, and either offsetting them against tax refunds or issuing demands to pay from taxpayers have caused considerable angst among many. In light of this, the Commonwealth Ombudsman/ACT Ombudsman, and the Inspector-General of Taxation and Taxation Ombudsman (IGTO) have jointly issued new guidelines aimed at improving how Australians are notified about government debts to ensure that the process of debt notification is handled with transparency, clarity and sensitivity towards impacted individuals.

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LBA Partners

cluw8slsx000h08l69308hcxw Get ready for FBT time

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The start of April signals the approach of FBT lodgment time. With the landscape of FBT evolving every year due to legislative amendments and administrative updates, employers need to be mindful of the changes applying for the current FBT year. For the 2023-24 FBT year, 25 May 2024 is the deadline for employers to lodge returns and pay any associated liabilities. However, employers that lodge FBT returns electronically through tax practitioners will have access to a deferred due and payment date of 25 June 2024.

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LBA Partners

clum80x99000b08l141ya58xk ATO’s use of small business benchmarks

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The small business benchmarks used by the ATO for various purposes, including identifying business which may be avoiding their tax obligations has been updated for the 2021-22 income year. The benchmarks consist of 9 broad categories covering accommodation and food; building and construction trade services; education, training, recreation and support services; health care and personal services; manufacturing; professional, scientific and technical services; retail trade; transport, postal and warehousing; and other services.

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LBA Partners

cluav397h000b08la3utk9311 Rental bond data matching program continues

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The ATO has announced that it will continue rental bond data matching to the 2025-26 income year. This program first commenced in 2005, collected data dating back to 1985 and has continued since then. According to ATO estimates, records relating to around 900,000 properties will be obtained each financial year. This data will be used to identify under-reporting or non-reporting of income in tax returns, the misapplication of CGT provisions leading to under or non-reporting in relation to sale of properties, and non-compliance with foreign investment laws.

Need an affordable tax accountant open now? These 56 results near you are waiting for your call. Here are our top Machans Beach Tax Accountants with reviews & ratings.

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2/355 Sheridan Street, Cairns North QLD

Professional

Registered Tax Agent

Expert

Certified Advisor

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Unit 7/15–17 Pease St, Manoora QLD

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Suite 6/254–256 Mulgrave Rd, Westcourt QLD

Tax returns

Accounting

Bookkeeping

Super fund audits

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1057 Captain Cook Hwy, Smithfield QLD

Closed

Unit 1/146–156 Anderson St, Manoora QLD

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53 Anderson Street, Cairns City QLD

Closed

53 Anderson St, Manunda QLD

Closed

120 McLeod Street, Cairns City QLD

Closed

62 Pease St, Manoora QLD

Closed

Lvl 1/172 Mulgrave Rd, Westcourt QLD

Closed

Woree Plaza Lvl 1 12-20 Toogood Rd, Woree QLD

Closed

Woree Plaza 12-20 Toogood Rd, Woree QLD

View Machans Beach Tax Accountants Businesses Below

Closed

278 Ross River Rd, Aitkenvale QLD

5 (3)

Closed

Unit 1/39 Stratford Parade, Stratford QLD

Closed

3/137 Collins Ave, Edge Hill QLD

Closed

Smithfield QLD

Closed

Suite 4/345 Sheridan St, Cairns North QLD

3/178 McManus St, Cairns QLD

47 Flagstone Tce, Trinity Park QLD

Closed

2-4 Stanton Rd, Smithfield QLD

5 (2)

Closed

16 Survey St, Smithfield QLD

Closed

280-286 Sheridan St, Cairns City QLD

5 (3)

Closed

6 Winfield St, Whitfield QLD

Best Tax Accountants Near Me

Closed

89/75 Captain Cook Hwy, Smithfield QLD

Closed

Shop 21/5 Faculty Close, Smithfield QLD

Closed

Suite 15/92 Pease St, Manoora QLD

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4/220-226 McLeod St, Cairns North QLD

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225 Sheridan St, Cairns North QLD

179 Martyn St, Cairns QLD

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Suite 1/92 Pease St, Manoora QLD

Closed

Brinsmead QLD

Explore Machans Beach Tax Accountants Services Near You

Cairns QLD

4 (2)

Closed

4/61 McLeod St, Cairns City QLD

Closed

Cairns QLD

28 Balfe St, Parramatta Park QLD

5 (1)

Closed

12A Aplin St, Cairns QLD

Closed

4/31 McLeod St, Cairns City QLD

5 (1)

Closed

116 Mulgrave Road, Parramatta Park QLD

Closed

1/101 Mulgrave Rd, Parramatta Park QLD

4.5 (2)

Closed

207 Bunda St, Cairns Central QLD

Featured Reviews of the Best Tax Accountants in Machans Beach

4.8 Average Rating based on 41 reviews from 18 Tax Accountants near Machans Beach

Very prompt, professional service, great advice and even better results, would recommend to any one i know. Thanks a million.

ben left a review for

HPW Accountants

Great Service

Andy left a review for

Cairns Quality Accounting

I have been dealing with Foster Lee for all my tax matters for 24 years. His service has always been excellent and very good value for money. I highly recommend FBL Consulting for all taxation, business and investment advice. You won't find better.

Geoff Williams left a review for

FBL Consulting Services

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