Income Tax Rates: 2012/13


The carbon tax legislation has passed through the senate and will come into effect on 1 July. Included in the package are a new set of Income Tax rates designed to compensate low and middle income earners for the cost of the tax.
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Act Now to Save on HELP Debts

From 1 January 2012, the government is changing the HELP voluntary repayment bonus, applied to payments of $500 or more, from 10% to 5%.

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Government continues to fight non-genuine contractor arrangements

The final report of the Australian Building and Construction Commission (ABCC) into Sham Contracting in the building and construction industry was released on 29 November 2011. The ABCC Sham Contracting Inquiry Report 2011 contains key themes, findings and recommendations of the inquiry.

 
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ATO No longer allowed to delay GST Refunds

In a recent court case (Multiflex Pty Ltd v The Commissioner of Taxation), a taxpayer challenged the Commissioner's ability to withhold goods and services tax (GST). The ATO lost the case and was not granted special leave to appeal to the High Court. As a result, the ATO has abolished its long-standing practice of holding GST refunds to complete verification checks.

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Strong record-keeping is vital


The ATO has emphasised the importance of record keeping in many of its recent announcements, so how does yours stack up? The start of a new year is a great opportunity to implement new systems and get your records up to scratch.

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Bill introduced to increase super guarantee to 12%

The Superannuation Guarantee (Administration) Amendment Bill 2011 has been introduced to the House of Reps to provide for an increase in the rate of the superannuation guarantee to phase in to 12% over 7 years starting 2013/14.

 
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Did you know...

...Haslam Chartered Accountants partners with other local businesses through the SING group

For even more great local businesses see the full list of SING members.

Trading Hours

Monday 8:00am to 5:00pm
Tuesday

8:00am

 to

5:00pm
Wednesday

8:00am

 to

5:00pm
Thursday

8:00am

 to

5:00pm
Friday

8:00am

 to

5:00pm
Saturday Closed
Sunday Closed

Important Upcoming Dates

Wed Dec 21 @00:00 - 11:59PM
November 2011 Monthly Activity Statements Due
Fri Jan 20 @08:00 - 05:00PM
Q2 11/12 Super Contributions Due
Fri Feb 24 @00:00 - 11:59PM
Q2 11/12 Quarterly Activity Statements Due