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March 2011
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Past Partner, Bruce Stedman has been honoured for his long time commitment to Concordia Lutheran College.
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Congratulations goes to Kelly Powell and Anna Haig for completing their Certified Practising Accountant (CPA) studies. Kelly will continue her accountancy work with Scott Cutmore, Jane Heidrich & Sam Dean’s tax team and Anna continues to share her expertise on Myles' tax team.
Congratulations also to Tammy Pukallus for receiving the Vice Chancellor’s Scholarship at USQ to study Accountancy. Tammy completed her year 12 studies at Concordia Lutheran College last year and is currently working part time with us in Myles’ tax team.
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Succession planning is a vital element of business strategy that many ignore or leave until the last minute resulting in hasty decision that can affect the owner's retirement plans.
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| The recent decision from the High Court in the case of Antis has prompted the ATO to allow eligible Youth Allowance recipients in full-time study to claim a tax deduction for their education expenses. |
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| The ATO has approved 'bucket donations' for the 2011 Queensland, Northern New South Wales and Victorian floods, as it did for the large number of donations made after the Victorian bushfires in 2009. |
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| In an effort to level the playing field of businesses, the Australian Tax Office (ATO) is undertaking a major compliance program overhaul that will result in the identification and assessment of non-compliance by those businesses that operate in the cash economy. |
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| A formal guideline has been issued by the ATO in regards to co-owners of rental properties that share an interest in the rental income and expenses of that property. |
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| The Child Support Agency (CSA) has recently signed a new agreement with the ATO, continuing a blitz on separated parents who fail to lodge tax returns. |
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| From time to time clients ask for clarification of accounting jargon, we thought it might be interesting to start including them in our quarterly newsletters. |
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To make sure your business is ready to provide "Parental Leave Pay" to any eligible employees, you can register for the Paid Parental leave scheme through Business Online Services with Centrelink.
Simply follow the attached link, download the brochures that will help you step through the process simply and efficiently.
They contain all the information you will require and helpful hints and contact numbers to assist you further.
https://www.centrelink.gov.au/internet/internet.nsf/publications/fpr049.htm
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These days most people know the importance of superannuation and saving for your retirement – and that living off your own superannuation pension, for example, is going to give you a lot more comfortable retirement than relying on the Government aged pension.
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| If you make a decision to start a self managed superannuation fund, there are requirements that you as trustee of the fund need to be aware of. |
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| A new guide has been developed by our financial planners entitled "Planning for Retirement". If you have been putting off making your plans or you have wondered how our financial planners go about achieving their clients goals, this new book provides in-depth insights that can assist you to take the first step. Please call Steve, Rob or Adam at our office 07 4632 1966 to receive your free copy or email mail@mcconachiestedman.com.au. |
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| A good mortgage broker could save you a lot more than just time. |
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Most Australians will earn over a million dollars in their life – life and the ability to earn income is clearly many people’s most valuable asset – yet we prefer to insure our cars and homes.
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Sherlock Holmes and Dr Watson were going camping. They pitched their tent under the stars and went to sleep.
Sometime in the middle of the night Holmes woke Watson up and said: “Watson, look up at the stars, and tell me what you see.”
Watson replied: “I see millions and millions of stars.”
Holmes said: “and what do you deduce from that?”
Watson replied: “Well, if there are millions of stars, and if even a few of those have planets, it’s quite likely there are some planets like earth out there. And if there are a few planets like earth out there, there might also be life.”
And Holmes said: “Watson, you idiot, it means that somebody stole our tent.”
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