Annual PAYG instalments

for your clients are not due until 21 October 2012, we will send instalment notices in early July 2012 so you can identify: ■■any clients that have an annual PAYG instalment obligation ■■the amount of your clients’ 2012 instalments.
Lodging PAYG withholding payment summary annual reports early makes completing tax returns easier

their payment summary annual reports as soon as they provide payment summaries to their employees. When this occurs, we can: ■■update the pre-filling report sooner ■■maximise the number of payment summaries available to you in your pre-filling report.
Small business reform measures 2013

Your small business clients may be affected by a number of measures that have recently been passed. Changes that will apply to small businesses from the 2012–13 income year onwards include:
Clean energy Household Assistance Package – changes to personal tax 2013

may notice a reduction in the amount of tax withheld from their pay as part of the government’s Household Assistance Package.
These reforms will help low and middle income households with the expected rise in the cost of living as we move to a low pollution future. Under the reforms:

New resource rent tax arrangements from 1 July 2012

On 29 March 2012 the resource rent tax legislation was passed, and takes effect from 1 July this year. The existing petroleum resource rent tax will be extended to apply to all onshore petroleum projects, including coal seam gas, tight gas and oil shale; with the minerals resource rent tax (MRRT) to apply to iron ore and coal projects.

Lodgment program – a new direction 2013

The new framework will allow us to better recognise that most registered tax agents and BAS agents (registered agents) are doing the right thing and to help those who continually fail to meet their lodgment program obligations on time. The 2012–13 financial year is a transitional year that will allow us to work with you to:
Spreading the word about electronic refunds

Remind your clients to bring their bank account details with them when they book an appointment

End to transitional arrangements for TFN withholding for closely held trusts 2013
due dates for 2010–11 have now passed, the TFN withholding for closely held trusts transitional arrangements are no longer available. The transitional TFN reporting arrangements had allowed for:
New reporting requirements for businesses in the building and construction industry 2013

If your clients operate a business in the building and construction industry, they need to be aware of new reporting requirements. From 1 July 2012, they need to report to us each year, the total payments they make to each contractor for building and construction services. Businesses need to report if all of the following apply:

Fuel tax credit rate changes from 1 July 2012

From 1 July 2012, fuel tax credit rates are changing. Your clients may be affected by one or more of the following rate changes: ■■increase in the rate from 19.0715 cents per litre for taxable liquid fuels (for example, petrol or diesel) used in some off-road business activities (for example, construction or mining)

Capital gains tax - disposal of property or shares

In late June 2012, we will be writing to taxpayers who have been identified through information provided to us, as having sold assets such as shares or property and may have made a capital gain or loss.

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