The Tax Office has sent letters to people living overseas who have made claims as non-residents for tax purposes. We strongly recommend that expats consult with their tax professional prior to responding to the letter as international tax matters further compound the already complex tax rules.
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Entries by synecticgroup
Since July this year, scams targeting both individual and business taxpayers have been running rife. From fake Tax Office “delayed return” or “proof of identity” emails to telephone calls conveying similar requests, taxpayers have had to keep their guard up. So how can individuals and businesses protect themselves from online fraud and crime?
Identity theft is such a threat nowadays that the Tax Office has set up a Client Identity Support Centre (find it here) to help taxpayers who have had their identities stolen or misused.
An Actuarial certificate is a statement provided by a qualified actuary to confirm the proportion of an self managed superannuation fund’s (SMSF) income that should be exempt from income tax. The tax treatment of a fund depends on whether it is in accumulation or pension phase, or a combination of both.
Your business can claim website development and maintenance costs under various tax rules. As a business owner you probably know by now that you need a website; whether to display your credibility, ensure you are accessible, target a wider audience, showcase your work or transact with your customers. Since most consumers now search online before making a purchase decision, […]
There will in all likelihood come a time when you will need to wind up your self-managed superannuation fund (SMSF). It’s always a good idea to start by sitting down to read your trust deed, as it may contain vital information about winding up your fund. Remember, once a fund is wound up, it cannot be reactivated.
Many professional, business or trades people are members of an association, and during their working life subscribe to an appropriate organisation. In most cases the membership of a trade union for example, or professional association relevant to workers in a particular occupation, would qualify for a tax deduction under the general deduction provisions of the […]
Not all taxpayers may be aware of how the use of valuations can affect their annual tax bill. Are you aware of how valuations can affect your tax bill? Click To Tweet
Running a successful small business sometimes requires an up-skilled team. If you need your employees to grow their expertise in a particular area, spotting them for short-courses, seminars, one-day intensives, professional qualifications or a bunch of “101s” can be a worthwhile endeavour. A deduction is generally available for the costs of providing education to employees Click […]
Income tax “bracket creep” happens when an increase in income moves you from one tax bracket to the next, resulting in a higher tax rate, and therefore reducing the overall gain from your higher salary.
Synectic is a Chartered Accounting and Advisory firm that brings together the skills of business advisers, accountants, taxation experts, financial planners, auditors, and self-managed superannuation experts.
Our team operates Tasmania-wide from Devonport, Hobart and Launceston offices.
Our mission is to enhance the prosperity of our people, clients and community. We offer the depth of knowledge, specialist skills and resources usually associated with much larger firms. Yet our size, availability and flexibility enables us to develop an in-depth understanding of your business and financial affairs. You can count on us.
A: 49 Best Street, Devonport
P: (03) 6424 1451
A: 30 Burnett Street, North Hobart
P: (03) 6239 4900
A: Level 3, 46 St John Street, Launceston
P: (03) 6337 6777
M: PO Box 6003, Devonport, TAS, 7310
Liability limited by a Scheme approved under Professional Standards Legislation.