Baker Affleck Chartered Accountants

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This month’s Baker Affleck newsletter features an important update regarding the tax ruling on the treatment of trusts. This recently announced change will have a major effect on many family and business structures.

Also featured:

  • Financial Year End
  • Cash flow
  • Recent economic announcements
  • Investing in super

Enjoy the read!


Important announcement: Tax Ruling

Baker_AffleckOn 2 June the ATO issued a final Taxation Ruling which changes the treatment of Unpaid Present Entitlements (UPEs). The ruling will require action from most business owners and investors and we encourage you to seek advice from your tax professional.

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Financial year end checklist

Baker_AffleckThe clock is ticking; here are a few areas you should consider before 30 June to maximise tax deductions and improve cash flow for the year ahead.

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Improving your business’s cash flow

Baker AffleckJust because the GFC is seemingly behind us, it doesn’t mean the business world is out of trouble. As the economy begins to pick up again it is crucial for business owners to fully understand their balance sheets and track cash flow on a regular basis.

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Should you be concerned about the recent economic announcements?

Baker_AffleckThe Henry Review, the Federal Budget, new Tax Rulings – how can you keep up to date with constant changes to ensure your business is compliant?

Baker Affleck is across all these changes and how they affect you.

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Could you be saving tax and earning more with an investment in super?

Baker_AffleckWhich will provide greater returns - an investment in superannuation or outside of superannuation? Super is not only essential for your future, it can also be part of a tax effective wealth creation strategy…

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Economic Update

Macquarie Private Wealth eUpdate
4 June 2010

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Newsletter No. 10
June 2010

Key Dates

Tuesday, 15 June
Due date for paying assessments of the super contributions surcharge and termination payments surcharge.

Monday, 21 June
May 2010 monthly activity statement, due date for lodging and paying.

Tuesday, 22 June
Due date for lodging superannuation assessment variation advice (where applicable) for varying a surcharge assessment.

Wednesday, 30 June
Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2009–10 financial year.

2007–08 individuals income tax return.

We invite you to join us!

Baker_Affleck

 

Baker Affleck is sponsoring Round 6 of the Accommodation Industry Golf Day

Thursday, 8 July 2010

Lakelands Golf Club
Gooding Drive, Merrimac

4 Ball Aggregate Stableford
12:00 noon shotgun start

Click here for more information

Tax effective opportunities before 30 June

  • Consider salary sacrificing
  • Consider concessional contributions
  • Can you take advantage of the Government Co-contribution?
  • Consider a transition to retirement
  • Pre-pay deductible interest
  • Consider income protection

 

 

 

 

 

 

 

 

Baker Affleck
Level 1 Solac House, 76 Appel St
PO Box 634
Surfers Paradise QLD 4217
Phone: 07 5538 3088
Fax: 07 5539 0805
Email: admin@bakeraffleck.com
Web: www.bakeraffleck.com