Yearly Archive: 2017

Work Christmas parties and gifts: tax tips

December 22, 2017

We don’t mean to sound like the Grinch, but when it comes to planning the work Christmas party, there’s more to think about than finding out who’s been naughty or nice. You may want to consider if you’ll need to pay fringe benefits tax (FBT) when rewarding your employees with gifts or parties this Christmas....


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Awards for Kothes staff

October 14, 2017

At Kothes we put a strong focus on supporting further study and were proud to see two of our staff Angus ‘Gus’ Jones and Ben Marshman among a group of students who got awards at the University of Wollongong Scholarship and Academic Presentation. Gus was awarded the Mumbulla Foundation Community Scholarship. Ben was awarded the...


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tax audit insurance, audit, ATO

Tax audit insurance for your peace of mind

October 14, 2017

The Australian Taxation Office (ATO) and other relevant agencies are reaching unprecedented audit activity levels due to enhanced data matching capabilities. Therefore if you are yet to opt-in to our tax audit insurance service, Audit Shield, now is the time to consider it. If you have already taken up our offer, you can rest assured...


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Technology and GST among biggest changes of Kothes’ 70 years

June 1, 2017

When Roy Kothe opened an accounting office in Carp Street Bega in 1947 he had two staff members, Jean Cleary and Gwen Bucket, and in their first year the firm prepared around 180 tax returns by hand. Fast forward 70 years and it’s a whole new world for Kothes Accounting Group, which now has seven...


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financial planning, superannuation, SMSF

Diverting personal services income to Self-Managed Super Funds (SMSF)

April 4, 2017

The ATO is reviewing arrangements where individuals at, or approaching, retirement age purport to divert their personal services income to an SMSF, so that the income is taxed concessionally (or exempt from tax) in the fund, rather than being subject to tax at the individual’s marginal tax rate. These arrangements normally involve the individual’s income...


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walker wayland, accounting, chartered accountants

Kothes at Walker Wayland Conference

April 4, 2017

At KOTHES we have a strong focus on education, training and industry events, and recommend all businesses do the same. Three of our directors Simon Byrne, Peter Mann and Fiona Dunham attended the Walker Wayland Australasia conference in Toowomba in late February, which was fantastic.We have returned to our offices reinvigorated, a fresh perspective and...


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Kothes Accounting

Ride sourcing is ‘taxi travel’

April 4, 2017

In a recent case, the Federal Court has agreed with the ATO that ‘ride-sourcing’ (such as that provided using Uber) is ‘taxi travel’ within the meaning of the GST law. The ATO has advised people who are taking up ride-sourcing to earn income should: Keep records Have an Australian business number (ABN) Register for GST,...


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Kothes Eden

Deductions for commercial websites

February 23, 2017

Do you understand how you can claim deductions for your business website?  The ATO has released a public taxation ruling on the deductibility of expenditure incurred in acquiring, developing, maintaining or modifying a website for use in the carrying on of a business. Importantly, if the expenditure is incurred in maintaining a website, it would...


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kothes accountants Merimbula

Changes to backpacker tax

February 23, 2017

From 1 January 2017, tax rates changed for working holiday makers who are in Australia on a 417 or 462 visa (these rates are known as ‘working holiday maker tax rates’). If a business employs a working holiday maker in Australia on a 417 or 462 visa, from 1 January 2017, they should withhold 15%...


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Kothes Accountants Bega

Don’t forget to check your myGov account

February 23, 2017

Do you have a myGov account? It is important to remember if you have set one up, that you need to check your myGov inbox for important messages. These are messages you are probably used to getting via your accountant and/or a letter in the mail, but if you have a myGov account, we no...


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