Penrith Tax Accountant ConsultationPenrith Accountants

Maximise your Refund - Minimise your Tax

A Grade Tax Accountants - Experts in Penrith Tax Returns, Business and Personal Accounting, Tax Agent Penrith

  • Evenings & Saturday appointments available.
  • Conveniently located opposite Penrith RSL Club.
  • Taxation & accounting support for Personal & Business clients
  • Small business tax specialist in the Penrith region.

The principal of A Grade Tax is Max Connelly. Max has a unique blend of over 30 years of experience in Taxation, Commercial Management Accounting and Business Management.

2011 Tax Return Checklist

Wed, 20/07/2011 - 10:26am — A Grade Tax

2011 Personal Tax Return Checklist

It will assist us to maximise your refund if you review the following checklist and bring all relevant information with you to your appointment.

Download a printable PDF version of this newsletter here

Income

Client Letter - Tax Time 2011

Wed, 20/07/2011 - 9:49am — A Grade Tax

Download a printable PDF version of this newsletter here

Dear Client,

I am pleased to advise of the appointment of Andrew Smith to our team. Andrew is a senior accountant
with over 9 years of taxation experience. 

Education Expenses Tax Offset

Tue, 28/07/2009 - 3:49pm — A Grade Tax

[ Download a prinatble PDF version of this list here ] Get Adobe Reader

Which individuals can claim the Education Tax Offset ?

To be eligible to claim the Education Tax Offset an individual must meet the following 3 conditions:

Superannuation and the 2012/13 Budget

Thu, 10/05/2012 - 10:42am — A Grade Tax

A Grade Tax as a leading firm of Penrith Accountants, are able to assist clients with their SMSF requirements.

Deductibility of Property Investment Loan Interest

Wed, 25/04/2012 - 2:23pm — A Grade Tax

The Australian Taxation Office has flagged it will crack down on property investors claiming deductions for interest expenses on certain types of loan arrangements.

Property owners using some or all of the rental income from an investment property to pay off their own home loan while adding the interest from the investment loan to the principal of the investment loan and claiming it as a deduction would come under the scrutiny of the Australian Tax Office.

In a determination last month, the ATO said it would reject such arrangements.

Medicare Levy and Medicare Levy Surcharge Changes

Mon, 23/04/2012 - 12:33pm — A Grade Tax

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Senior Citizens and Stamp Duty Concessions

Mon, 23/04/2012 - 11:26am — A Grade Tax

If you are a Senior who owns property in New South Wales or is thinking of purchasing a property in New South Wales you need to be aware of the new legislation passed through Parliament exempting you from the payment of stamp duty in certain circumstances.
 
This important piece of legislation is called the Duties Amendment (Senior’s Principal Place of Residence Duty Exemption) and will be in effect from 1st July, 2011 to the 1st July, 2012. This legislation contains good news for Senior Citizens who are looking to relocate to smaller accommodation.
 

Taxable Payments Reporting - Building and Construction Industry

Wed, 18/04/2012 - 8:28pm — A Grade Tax

From 1 July 2012, businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. You need to report these payments to the Australian Taxation Office (ATO) on the Taxable Payments Annual Report.
 
To make it easier to complete the annual report you may need to change the way you currently record your contractor information.

Background

Cancellation of ABN's

Thu, 29/03/2012 - 6:47pm — A Grade Tax

The Australian Business Register (ABR) is running a program to cancel the Australian business numbers (ABN) of individuals where records show they are not carrying on an enterprise. The program started in December 2011 and will continue throughout 2012. The ABR regularly reviews applications and cancels the ABN's of individuals who are no longer entitled, or who have never been entitled, to an ABN.

Accessing Your Super Early

Tue, 20/03/2012 - 6:31pm — A Grade Tax

There are special circumstances where super savings can be legally accessed early. These include:

    Severe financial hardship,
    Certain compassionate grounds,
A terminal medical condition,
    Permanent or temporary incapacity.

If a taxpayer legitimately needs some of their preserved super early, they should start by contacting their super fund for more information.

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