our latest news

Blog

The ATO are becoming more strict on under-reported income

ATO new credit and debit card matching project. Have you disclosed all of your income correctly?  Don’t wait until 30th June to rectify any anomalies. Contractors and Sub-contractors are being targeted in a new crackdown by the ATO, and they will be cross-matching businesses and payments between those of whom have worked for one another. The…

Read More

ATR – Federal Budget. Headline Announcements that may impact you and your business.

The Federal Budget has tax implications that you should be aware of.  Here’s the latest news!  Check to see what affects you. INDIVIDUALS Deficit Levy – From 1st July, 2014, a deficit levy will be imposed on individuals with taxable incomes exceeding $180 000. From this date, the top marginal tax rate will increase by…

Read More

Why Small Businesses Fail!

At Knox Taxation we love business start-ups and enjoy helping clients buy and develop a new business. However, a very large percentage of small business start-ups fail, so we thought that it would be worthwhile to highlight some of the most common reasons why! Common reasons for failure include: Lack of in-depth planning prior to purchasing/creating a new business Unrealistic expectations…

Read More

Tax Alert! – Recent Changes to Small Business Asset Write-Off

Small Business Asset Write-Off Changes – Be Aware! The Coalition Government recently announced that it would make the small business asset write-off rules less generous as follows: The $6 500 Instant Asset Write-Off – will be reduced to its old rate of $1 000. The $5 000 Vehicle Write-Off, which allowed small businesses to claim a bonus…

Read More

We’re not just Accountants. We’re Business Advisory Experts too!!

Number crunching with sound business advice in the one place. Getting a handle on your accounting and compliance in business is one thing, but at Knox Taxation we go the extra mile and guide you with extensive Business Advisory Services as well. Find out how we can help you with your business in a multitude of…

Read More

Change of Government means new rules!

What does the future of Tax and Superannuation hold? If there’s one thing that’s certain, there will be change, if it hasn’t already happened.  The Coalition Government outlined the following proposed changes during the 2013 election: Withdrawal of the former Government’s proposal to remove the statutory formula method for both salary-sacrificed and employer-provided car fringe benefits.…

Read More

Our New “Nimbus Client Portal”

We are introducing our “NEW” Nimbus Client Portal. For those who are familiar with “drop box”, this works in a similar way, however it is compatible with our practice management and tax return preparation software. It offers a much more secure method of transferring information between ourselves than email, and organises all of your information…

Read More

Federal Budget – What it means for you

Changes will be made to the way excess concessional contributions will be taxed making contributions to super… if you are 50 and over you will be able to make deductible contributions of up to $35,000 (up from $25,000) in the 2013-14 income year and thereafter. if you are 50 or over access to the higher…

Read More

Construction Industry Contractor Payment Report

As part of the 2011-12 Federal Budget, the government announced the introduction of taxable payments reporting for businesses in the building and construction industry. The ATO claim their aim is to improve compliance with tax obligations by those contractors who are currently not doing the right thing. They advise that information reported about payments made…

Read More

Changes for the 2013 year

PLEASE BE AWARE There has been a lot of promotion and misunderstanding about the tax free threshold being lifted from $6,000 to $18,000. For the year ending 2012, the effective tax free threshold was $16,000 for lower income earners due to application of the low income offset. Even though the tax free threshold has increased…

Read More


Download your FREE Business Tax Return Checklist

You have Successfully Subscribed!

Download your Property Investor - Starter Pack

Enter your email below to receive your FREE property and tax guide now.

By joining the Knox Tax community you will also remain up-to-date with the latest news and tips from our team.

Success! Your Property Investor Starter Pack is on its way

Download your Small Business Start-Up Pack

Enter your email below to receive your FREE business guide now.

By joining the Knox Tax community you will also remain up-to-date with the latest news and tips from our team.

Success! Your Property Small Business Starter Pack is on its way.

Download your Property Investor - Q&A Pack

Enter your email below to receive your FREE Q & A guide now.

By joining the Knox Tax community you will also remain up-to-date with the latest news and tips from our team.

Success! Your Property Investor Q&A Pack is on its way.