It's tax time again, as you gather your receipts and other assorted tax documents, you should also turn you mind to what the ATO is paying close attention to this year. This year, the ATO is focusing on taxpayers who claim "other" work-related expense deductions at label D5 on individual tax returns.Read More
Using the simplified depreciation rules, assets costing less than the relevant instant asset write-off threshold are written off in the year they are first used, or installed ready-for-use. This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.Read More
Have you previously claimed work-related clothing expenses and laundry expenses in your tax return? You should beware this tax time because the ATO is cracking down on clothing and laundry expenses. According to the ATO, clothing claims went up nearly 20% over the last 5 years and last year around 6 million people claimed expenses totalling nearly $1.8bn. In addition, around a quarter of all clothing and laundry claims were exactly $150, which is the threshold that requires taxpayers to keep detailed records.Read More
Employer groups have been dealt a blow after a Fair Work Commission finding that Uber was not an employer and thus unfair dismissal laws did not apply. With the rise of the gig economy, employment conditions such as minimum wages and conditions, entitlement to annual, sick and long service leave, superannuation, and protection from unfair dismissal and unlawful termination could all be threatened.Read More
Single Touch Payroll (STP) is a new way for employers to report tax and super information to the ATO. It starts from 1 July 2019 for employers with 19 or less employees.Read More
With only a third of Australian businesses currently adopting a social media presence, many are missing out on business opportunities – including unparalleled market reach – and financial incentives. We may not be marketing specialists, but when it comes to the advantages of social media for business, the numbers speak for themselves – and we do know numbers!
Let's take a look at how you can make the most of social media marketing tools to engage with your customers, increase your profit margins and reap tax benefits.Read More
The government has increased the threshold for the instant asset write-off to $25,000 as it looks to entice the small business sector ahead of a federal election.Read More
From 26 Jan 2019 (25 Jan in the US), the new secure and more beautiful way to contact Xero support is via Xero Central. You can get there via the help icon in your Xero product, or by going direct to support.xero.com from any device. That includes from Xero business edition, Xero Expenses, Xero Payroll, Xero Projects and Xero HQ.Read More
The partners and staff of Brown & Bird would like to thank you for your business during the past year and wish you a Merry Christmas and a prosperous New Year.
We wish to advise that our office will close at 2:00pm on Friday 21st December 2018 and will re-open at 8:00am on Monday 7 January 2019.Read More
Help is available.
Unprecedented bushfires across the Mackay region in November – December 2018 burned approximately 160,000 hectares of forest and farming lands and affected many communities.
Click on the links below to find the information you need to recover. This page will be updated when new or different recovery information is available.
Get on top of your record keeping early and be better prepared for lodging your BAS ‒ it can help manage your cash flow and get you your refund faster.Read More
When it comes to buying a home, it can be both an exciting and stressful time. There are many things that need to be considered (and taken care off) before you receive the keys and start the next chapter in your life. Importantly, in our animation, ‘First Home Super Saver Scheme (FHSSS)’, we talked briefly about the impact that housing prices, wage growth and livings costs are having on prospective first home owners.
There are two categories of companies when it comes to the corporate tax rate. The two categories are determined by turnover and business activity.Read More
The growing need for workforce flexibility and to reduce business costs means that the line between an employer/employee relationship and a principal/independent contractor relationship is often blurred. It is important for businesses to correctly classify their employment relationships, given the marked difference in employer obligations when engaging an independent contractor rather than an employee.Read More
Salary sacrifice arrangements can be a tax-effective option for individuals to boost their retirement savings with additional employer superannuation contributions above the compulsory employer contributions. It is a good idea, too, for individuals to regularly assess whether their existing salary sacrifice arrangements are still suitable for their needs.Read More
The Partners of Brown & Bird have great pleasure in announcing Daniel Ross as Partner from 1 July 2017. Daniel was born in Mackay and has been an accountant with Brown & Bird since 2005. He specialises in tax, audit and consulting. Daniel's contribution to the Management Team will provide fresh ideas and youthful energy to a partnership that has always tried to blend youth and experience to provide a balanced, long term approach to our advice and client support. Daniel will continue working closely with Chris Wright and contribute to the success of Brown & Bird and its clients.Read More