Backpackers Tax Battle Continues

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A decision regarding the “Backpacker Tax” has once again been delayed by Parliament.

Proposed changes to the way backpackers/working holiday makers are taxed were introduced in the 2015/16 Federal Budget.  Under the original proposal, backpackers would no longer be covered by Residency Tax Rules, including the $18,200 tax-free threshold, the low income tax offset (LITO) and the lower tax rate of 19% for income above the tax free threshold up to $37,000.
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High Prices for Aged Care Facilities: The End?

old people holding hands

I have been working for a progressive Aged Care facility for several years now helping them to grow their business.

The original strategy was to buy existing Aged Care operations and as the client was well regarded and a long term player in the sector, they were able to access opportunities to purchase groups before they entered into a formal sale process.
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Data for Sale

Hand stealing money computer

The Internet and the email: the two most essential tools absolutely crucial to 21st Century business operations.

Whether it be online e-retail sites, internet banking, marketing to prospects, contacting clients or communication with suppliers, statistics tells us that business – small, medium and large – now use these forms of electronic connection on average 12 times more than any other form of communication.
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Jeremiah’s Star shines brighter than ever

Jermiah Thum Ian Congram

Jeremiah Thum, Powers’ Auditing Partner, was shortlisted as a finalist to win an Award in the New Partner of the Year Category at the 2016 Accounting Awards hosted by Accountants Daily, Australia’s top publication for the Accounting Industry.

The five-star Gala Awards Dinner at the Four Seasons Hotel in Sydney, was held on Friday 14 October 2016.
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Changes to Super Budget Measures

Scott Morrison Kelly O'Dwyer super changes

It seems as though there have been numerous Superannuation announcements since the Federal Budget held in May 2016 and we are yet again faced with more Superannuation commentary.

In the 2016‑17 Budget, the Government announced a package of reforms designed to improve the sustainability, flexibility and integrity of the Superannuation system. It set out a clear objective for Superannuation: ‘to provide income in retirement to substitute or supplement the Age Pension’.
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