Are you a business owner in the cafes and restaurants, real estate services or carpentry services industries?  The Australian Tax Office has named the "high risk" areas of superannuation defult. 

Despite the importance of super, some employers in these industries do not always get their super obligations right. Over the next six months, the ATO will provide information to you to better understand your super obligations. Later this year they will be undertaking audits of employers who continue to not meet their super obligations for their employees.

If you need assistance with an ATO audit, please contact us.

What’s ahead in the new year on the tax front  -  will you be getting any benefit out of the recent tax changes that have been announced?

Compared to recent years, the 2011 Federal Budget did not introduce any major changes, however, some new measures were outlined which will no doubt impact on how you manage your financial affairs and plan for your retirement.

In addition to the specific budget announcements, we now face the prospect of having to deal with the impact of the carbon tax which is expected to increase the cost to both individuals and businesses alike.  Cost increases will mean that you will need to factor these in any financial or business plan you put in place in the future.