http://www.delphiaccounting.com.au Structuring, Accounting, Finance, Auditing Thu, 05 May 2011 23:19:57 +0000 http://backend.userland.com/rss092 en This is a subject that most people who have a SMSF probably do not give much thought to. However, the audit is the end result of everything that has happened during the year.  So that what you do with your SMSF is then examined by the Auditor and you are ... http://www.delphiaccounting.com.au/bills-blog-audit-of-self-managed-superannuation-funds/107/ Please note our office will be closed over the Christmas and New Year period. The last day of business will be Wednesday 22nd December 2010, with the office reopening again on Monday 10th January 2011. Wishing you a safe & happy holiday!   http://www.delphiaccounting.com.au/christmas-and-new-year/102/ Superannuation Funds – 2009/10 Type of Receipt Rate of Tax % Complying Superannuation Fund Earnings Income received including realised capital gains Discount capital gains (asset held for 12 months or more)   15 10 Employer Contributions All (no S.295-180 election) Portion covered by S.295-180 election   15 10 Employee and Self-employed Contributions Al l (no S.290-170 notice) Portion covered by S.290-170 notice   15 10 Contributions – SGC shortfall component All   15 Contributions – other person All ... http://www.delphiaccounting.com.au/superannuation-tax-rates/100/ Medicare Levy – 2009/10 General Rate Taxpayer Rate % Individual (resident) 1.5% of taxable income  Low-income Thresholds – Individuals The 2009/10 Medicate Levy low-income thresholds for individuals are as follow;   Single Taxpayer Threshold Amount ¹ $ Phase-in Limit²    $ 1.5% at or Above³ $ Not eligible for Senior Australians Tax Offset or Pensioner Tax Offset 18,488 18,489 – 21,750 21,751 Eligible for Senior Australians Tax Offset 29,867 29,868 – 35,137 35,138 Eligible ... http://www.delphiaccounting.com.au/medicare-levy-and-thresholds-20092010/92/   Asset Protection and Accounting Seminar    Wednesday 12 May 2010   Glades Golf & Spa Glades Drive, Robina 6.00pm - 7.30pm One Stop Accounting Do you need an accountant who will look after all your business needs? Business Structure -  Do you have the right structure for your business? Asset Protection - Understand how to protect your assets. Accounting - Do ... http://www.delphiaccounting.com.au/asset-protection-accounting-seminar/75/ ATO trials payments by credit card The Tax Office is trialling payment by credit card for all taxation liabilities between $10 and $10,000. To make a credit card payment taxpayers will need: • A Visa, MasterCard or American Express card; and • Their ATO electronic funds transfer EFT code to use the Government EasyPay website or ... http://www.delphiaccounting.com.au/74/74/ What if super guarantee creates excess contributions? Editor: At the same meeting, the Tax Office was asked what if super guarantee obligations meant that a taxpayer exceeded their concessional contributions cap. Again, the answer was negative. Q. Would the Commissioner exercise his discretion under S.292-465 ITAA 1997 if excess contributions arose due to ... http://www.delphiaccounting.com.au/72/72/ ATO comes down hard on UPEs to bucket companies The ATO has now issued Draft Taxation Ruling TR2009/D8 which, generally speaking, means that where a trust has an unpaid present entitlement (UPE) to a private company, the UPE will constitute a “loan” by the private company to the trust, for purposes ... http://www.delphiaccounting.com.au/71/71/ Caps apply to contributions made to your super fund for a financial year. Any super contributed over the cap amount is subject to extra tax. The cap amount and how much extra tax you pay once you exceed it, depends upon whether the contributions are: concessional - which are generally made ... http://www.delphiaccounting.com.au/super-contributions/61/ The ATO offers seminars to trustees of self-managed super funds (SMSFs) to help them increase their knowledge about their responsibilities and obligations.  The two seminars that they offer are held at various locations around Australia during the year.For existing trustees Seminar's  for existing trustees is 'Running a self-managed super fund'.  ... http://www.delphiaccounting.com.au/seminars-for-trustees/59/