Tax Newsletter March 2016

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Tax Newsletter

 February-March 2016

Dear Valued Client,

We provide this tax newsletter as a service to our existing and new clients to keep them updated with changes in taxation.

Thirty of our clients were kind enough to provide us with testimonials.

We offer a wide range of tax return services and our combined Tax Office and private practice experience means that we aim to achieve the best tax outcomes every time. Keep updated by visiting our website at any time.Y

Remember, we are here to assist you in all Taxation matters and we hope you will be impressed with the broad range of Tax services that we have to offer.

2015 Tax Returns.

Some of our clients have not yet completed their 2015 returns and we are now encouraging everybody to make an appointment with us as soon as possible to avoid possible penalties. Have a great year.

Should you require any further information regarding this or any other Taxation or accountancy matter please do not hesitate to call us.

What’s new for small business in 2016?

Instant Asset Write-Off and  simpler depreciation rules

Small business can immediately deduct the business portion of most assets if they cost less than $20,000 and were purchased between 7.30pm on 12 May 2015 and 30 June 2017. This deduction can be used for each asset that costs less than $20,000, whether new or second hand.From 1 July 2017 the threshold will return to $1,000.

New Rules-Deductions for professional expenses for start-ups.

From 1 July 2015,small businesses are entitled to certain deductions when starting up a small business. The range of deductible start-ups includes professional, legal and accounting advice and government fees and charges. If you need any further information please call us on 4360 2836

2016 Tax Returns.

The 2016 Tax preparation period will soon be upon us. Where possible provide us with your information early- or as early as you can- to enable the preparation of your tax returns in an orderly fashion.

If you are unsure of the requirements, or if you are a new client just starting off with us, please feel free to call us to discuss your needs.