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Low income earners may need to lodge If your taxable income is under the tax-free threshold, there are reasons why you may still need to lodge an income tax return. The most common reasons are as follow: are entitled to the private health insurance rebate had pay as you go (PAYG) withheld from payments received […]

Axis Accounting would like to inform all our small Business clients, that The Australian Taxation Office (ATO) is conducting seminars via webinar. Webinars are online seminars that allow you to participate in seminars from the convenience of your home, or wherever you can access a suitable computer. We encourage all our clients who are operating […]

Happy Financial Year! Here you have an overview of the 2013 tax changes; There have been many changes introduced from 1 July 2012 that will affect the individual taxpayer’s hip pocket, such as the  following: 1. The Private Health Insurance Rebate (PHIR) is now means tested which could incur a debt for the taxpayer. 2.The […]

Just a reminder to all our clients: Last year the government introduced changes to the private health insurance rebate and the Medicare levy surcharge. Essentially, these changes mean your income level will affect the rebate you receive on private health insurance from the Federal Government. The ATO will work out your rebate entitlement when you […]

Here we have an article from The Daily Telegraph informing all Retirees on the changes to Superannuation and the impact it will have on them. Changes to The Superannuation

If your accountant is not doing a complete and proactive job, you will be missing out on tax saving opportunities. We speak your language, we don’t sit back, we monitor, we recommend and we’re never too busy to meet up. We are a different type of accountancy firm, established to provide clients with a quality […]

The case of a mining operation, it is possible that the functional currency of both the overseas subsidiary and the Australian parent company will change over the course of the exploration/mining activity of the overseas subsidiary, regardless of the way the group is funded.

The Australian Securities and Investments Commission (ASIC) released Regulatory Guide 230 Disclosing non-IFRS financial information (the guide) in December 2011 which is a guide for directors and preparers of financial information on presenting non-IFRS financial information. ASIC acknowledges that in some cases non-IFRS financial information can be useful for investors and other users, but also […]