EoFY Super Contributions

Don’t leave your contributions to the last minute This is particularly important if you plan to claim a tax deduction for any of your contributions. Contributions are included in a financial year if they are received in your fund’s bank account by 30 June. With 30 June falling on a Sunday this year, it would be prudent to make your contributions by Wednesday 26 June to ensure they are received…  Read more

REMINDER: Tax Returns must be lodged by 30 June 2019 for lump sum claims for family assistance and for balancing family tax benefit payments

The Dept of Human Services allows a period of one year to submit a lump sum claim for family assistance and confirm your income for that year. If you wish to submit a lump sum claim for the 2018 financial year for the following: Family Tax Benefit (FTB); Child Care Benefit (CCB); or Single Income Family Supplement (SIFS) if you do not receive FTB for the whole year; you and…  Read more

Important Information for Clients with a Discretionary Trust

Decisions Regarding Distribution of Income If you have a Discretionary Trust, the decisions about the distribution of the income of your Trust must be made and evidenced by 30 June 2019. Under the terms of most Trust Deeds it is not necessary for formal minutes to be prepared prior to 30 June as these can be prepared and signed at a later date.  It is only necessary for the decision…  Read more

Single Touch Payroll: What you need to know

From 1 July 2019, all employers will need to start complying with Single Touch Payroll, which has been introduced by the ATO to streamline payroll reporting.  STP commenced for employers of 20 or more employees as at 1 July 2018.   What is Single Touch Payroll?  When you complete your payroll, you will be reporting the payments made, tax withheld, allowances, deductions and super information for each employee directly to the ATO…  Read more

Instant Asset Write Off changes announced in Budget 2019 are now law

The measure announced in the 2019 Federal Budget to give medium-sized businesses (turnover greater than $10M but less than $50M) the ability to immediately deduct the cost of assets costing less than $30,000 is now law. The new Act also increases the current threshold for the instant asset write off for small businesses (turnover less than $10M) from $25,000 to $30,000. There have been a couple of changes to the…  Read more

Allan Hall’s 2019 Federal Budget Tax Summary

The Federal Treasurer, Mr Josh Frydenberg, handed down the 2019/20 Federal Budget at 7:30 pm (AEDT) on 2 April 2019. Mr Frydenberg said the Budget is ‘back in the black’, announcing a budget surplus of $7.1b, and forecasting continued surpluses into the future, building towards 1% of GDP with the aim to pay off Government debt by 2030. Being a pre-election budget, the Treasurer continually stressed throughout delivery of his…  Read more

Allan Hall named finalist in numerous firm-wide categories, including the Australian Accounting Awards 2019

Allan Hall Business Advisors continues to impress with individual, network and firm-wide awards and accolades, with our latest nomination as finalists in 6 categories of the Australian Accounting Awards 2019, Women in Finance Awards and HR Manager of the Year. For further details and a full list of our recent awards, click below.

Global alliance focussed on business excellence

Allan Hall is the Sydney member of Alliott Group, an award winning, growing, global alliance of 160+ accounting, law and consulting firms in 60+ countries.