Our Blog
It's tax time again! Our July 2016 newsletter debugs some of the myths surrounding what you can and can't claim in your tax return. Davies, Thompson & Wright help our clients through this time of year and appointments are now available at our Muswellbrook and Merriwa offices to see our friendly tax professionals.
The June 2016 newsletter discusses the new rules for buying or selling property after 1 July 2016, as well as a reminder about the proposed changes to superannuation contribution levels. Davies, Thompson & Wright accountants can assist you to cut through the confusion surrounding these upcoming issues.
The June 2016 market overview from Politis Investment Strategies details the global and Australian market movements in May 2016. It also gives some real life examples of the proposed upcoming changes to superannuation and how it may affect you reaching your financial goals. From our Muswellbrook office, Davies, Thompson & Wright will become an authorised representative of Politis Investment Strategies from 1 July, 2016.
As a really simple starting point, we found that Chartered Accountants Australia and New Zealand released a concise half page summary of the 2016 budget highlights for companies, businesses, individuals and superannuation which was easy to digest.
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BUDGET BLITZ 1/2 PAGE SUMMARY 2016 |
The 2016 budget sees future tax discounts for companies and small business together with significant reforms restricting access to superannuation concessions. The company tax rate will be reduced to 25% over 10 years. The reduction will initially target companies with a turnover less than $10 million. The tax discount for unincorporated small businesses will increase incrementally over 10 years from 5% to 16%. The opportunities for tax planning, timing of asset sales and business restructuring are where Davies, Thompson and Wright can assist you and your business to make the most of these budget concessions.
Changes which may affect your retirement planning include a reduction in concessional contribution caps, the lowering of the Division 293 tax threshold, capping tax-free assets in retirement and a lifetime limit for non-concessional contributions. Davies, Thompson & Wright can assist you in reassessing your retirement plan in the light of these new restrictions.
For your information Davies, Thompson & Wright have this budget article for you which provides details on each area of the budget in good plain English.
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DETAILED 2016 BUDGET INFO |
Cashflow, breakeven points and banks giving loan repayment advice are the topic of this month's business and tax update. As accountants, Davies, Thompson & Wright help growing business understand their cash cycle timing and finance options.
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BUSINESS & TAX UPDATE – MAY 2016 |
The May 2016 market overview from Politis Investment Strategies details the global and Australian market movements in April 2016. From our Muswellbrook office, Davies, Thompson & Wright will become an authorised representative of Politis Investment Strategies from July, 2016.
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INVESTOR UPDATE – MAY 2016 |
On our brand new website you can find out all about who we are and what services we provide. Make sure you have a look at our new "logo" on the top left hand side of the page. It is an abbreviated version of our firm name, and also our new website address.
We will be updating our blog regularly with the latest issues in tax and other areas of interest to our clients and perhaps the occasional reference to exciting happenings in our office - such as new employees, fundraising functions, training etc.
Also, regular newsletters will be available starting next month, so make sure that you sign up for the Davies, Thompson & Wright e-newsletter now.
We've also included "request an appointment" so that you can arrange a meeting with one of our team.