Recent Posts by Peter Fawcett

Christmas Holiday Times

  The Directors and Staff of the M + S Group would like to wish you a very happy and safe Christmas and best wishes for the New Year. We advise that our offices will close at 12 noon on Friday 21st December, 2018 and will re-open for business at 8.30am on Wednesday 2nd January,…
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Motor Vehicle Expenses

The type of car and the type of business structure you have will determine what motor vehicle expenses you can claim on your Tax Return. Please read the attached article to find out more. Motor Vehicle Claims For more information from the ATO; visit Motor vehicle expenses.
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Thinking SMSF…

  Is financial security in retirement important to you? Have you ever thought about taking control of your own Superannuation?     The Australian Taxation Office recently presented an article in relation to setting up and running a Self Managed Super Fund. Read the attached article and then call one of the experienced Financial Planners…
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Personal Income Tax Changes

The Government has secured enough support to enable their proposed amendments to the Personal Income Tax Bill to take effect. Under the new Bill the following changes will be made to personal tax rates:       • From 1 July 2018, the threshold for the 32.5 per cent tax rate will increase from $87,000 to $90,000…
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Small Business Tax Tips

Small businesses may be eligible for a range of benefits this financial year. CPA Australia have put together 15 tax tips to help you out.   From reviewing your private company loans to paying employee bonuses, explore these 2018 tax tips now.
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ATO Crackdown on Work-Related Expenses

  The Australian Taxation Office (ATO) has re-issued a timely reminder that it is increasing its focus on work-related expenses (WRE). The crackdown has emerged from concern taxpayers are "pushing the envelope" when it comes to claiming expenses. The crackdown isn't only due to a record increase in WRE claims, but it is now much more cost effective to review…
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Superannuation Amnesty

The Australian Government has announced the introduction of a 12 month amnesty for historical underpayment of employee super entitlements. To comply with the amnesty guidelines,  employers must pay all that is owing to their employees,  including nominal interest. Penalties for late payment will not be applied during the amnesty period. However, Employers that do not take…
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2018 Budget Wrap

What will the 2018 Federal Budget deliver for you? M+S Group Accounting don't pretend to have all the answers when it comes to the impact the proposed Budget changes will have on your day to day life, Australian Business or the overall economy. However, we recommend you read the following articles to help gain an understanding…
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Back to Back Awards – Advance Computing

Front Row (L-R) Bryant Alford, Chris Motton and Mark Schumann Back Row (L-R) Joel Borellis, Steven Worrall (Microsoft Australia MD), Mark Leigh   Advance Computing has once again captured the attention of Microsoft Australia after winning the Transform your Product category (one of only five award categories) at the recent Microsoft Australia Partner Awards.  The company was…
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2018 – Tax Changes

  The below checklist outlines significant changes that are scheduled to operate from the 2017/18 income year. In some cases, implementation of these changes will be dependent on the passing of necessary legislation.     SMALL BUSINESSES AND COMPANIES ƒFrom 1 July 2017, the concessional corporate tax rate of 27.5% will only be available for ‘‘base rate entities’’,…
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