Tag Archives: Income Tax

Financial Focus Spring 2011

Posted on October 10, 2011 by Minnik

During periods of falling or volatile markets, our instincts may tell us to switch to the perceived safety of cash and get back into shares after the sharemarket has risen. While this is an understandable emotional response to uncertainty, the … Continue reading →

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Super Co-Contribution 2011

Posted on June 25, 2011 by Minnik

Low Income Earners eligible for the Super Co-Contribution … Ensure you contribution is RECEIVED by the fund by 30 June 2011 http://www.ato.gov.au/super/content.aspx?doc=/content/60489.htm&page=21&H21

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Providing PARENTAL LEAVE PAY Starts on 1 July 2011

Posted on June 14, 2011 by Minnik

Dont forget Parental Leave Pay !! Centrelink funds employers who then provide PL to eligible employees PAYG must be Withheld But PL does not attract Super / Payroll Tax / Workers Comp http://www.familyassist.gov.au/payments/family-assistance-payments/paid-parental-leave-scheme/

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Minors – Low Income Tax Offset

Posted on June 9, 2011 by Minnik

In the 2011-12 Budget, the Australian Government announced changes that will remove the ability of minors (children under 18 years of age) to access the low income tax offset to reduce tax payable on their unearned income (for example, distributions … Continue reading →

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Refund of Excess Concessional Super Contributions

Posted on June 7, 2011 by Minnik

Tax Law will be amended to provide eligible individuals the option to have excess concessional contributions taken out of their super fund and assessed as income, rather than incurring ECT (Excess Contributions Tax). The measure applies where an individual has … Continue reading →

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