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A Grade Tax News Personal Newsletter
A Grade Tax News Personal Newsletter
2011 Tax Return Checklist
Wed, 20/07/2011 - 10:26am — A Grade Tax2011 Personal Tax Return Checklist
It will assist us to maximise your refund if you review the following checklist and bring all relevant information with you to your appointment.
Download a printable PDF version of this newsletter here
Income
Client Letter - Tax Time 2011
Wed, 20/07/2011 - 9:49am — A Grade TaxDownload a printable PDF version of this newsletter here
Dear Client,
I am pleased to advise of the appointment of Andrew Smith to our team. Andrew is a senior accountant
with over 9 years of taxation experience.
Education Expenses Tax Offset
Tue, 28/07/2009 - 3:49pm — A Grade Tax[ Download a prinatble PDF version of this list here ] 
Which individuals can claim the Education Tax Offset ?
To be eligible to claim the Education Tax Offset an individual must meet the following 3 conditions:
Superannuation and the 2012/13 Budget
Thu, 10/05/2012 - 10:42am — A Grade TaxA Grade Tax as a leading firm of Penrith Accountants, are able to assist clients with their SMSF requirements.
Deductibility of Property Investment Loan Interest
Wed, 25/04/2012 - 2:23pm — A Grade TaxThe Australian Taxation Office has flagged it will crack down on property investors claiming deductions for interest expenses on certain types of loan arrangements.
Property owners using some or all of the rental income from an investment property to pay off their own home loan while adding the interest from the investment loan to the principal of the investment loan and claiming it as a deduction would come under the scrutiny of the Australian Tax Office.
In a determination last month, the ATO said it would reject such arrangements.
Medicare Levy and Medicare Levy Surcharge Changes
Mon, 23/04/2012 - 12:33pm — A Grade Tax<!--[if gte mso 9]>
Senior Citizens and Stamp Duty Concessions
Mon, 23/04/2012 - 11:26am — A Grade TaxIf you are a Senior who owns property in New South Wales or is thinking of purchasing a property in New South Wales you need to be aware of the new legislation passed through Parliament exempting you from the payment of stamp duty in certain circumstances.
This important piece of legislation is called the Duties Amendment (Senior’s Principal Place of Residence Duty Exemption) and will be in effect from 1st July, 2011 to the 1st July, 2012. This legislation contains good news for Senior Citizens who are looking to relocate to smaller accommodation.
Accessing Your Super Early
Tue, 20/03/2012 - 6:31pm — A Grade TaxThere are special circumstances where super savings can be legally accessed early. These include:
Severe financial hardship,
Certain compassionate grounds,
A terminal medical condition,
Permanent or temporary incapacity.
If a taxpayer legitimately needs some of their preserved super early, they should start by contacting their super fund for more information.
Self Managed Superannuation Fund - Parent and Children Members
Tue, 20/03/2012 - 5:54pm — A Grade TaxThe investment risk profile for parents is not the same as that of their children.
Accordingly, the potential for problems when including your children in your Self Managed Superannuation Fund is significant and could be an unwanted trigger to unrest amongst the family.
Possible problems include:
Reductions to the Superannuation Co-Contribution Scheme
Wed, 01/02/2012 - 7:09pm — A Grade TaxIn the 2011-12 Federal Budget, the government announced that the freeze of the indexation applied on the superannuation co-contribution income thresholds will apply for an additional year.
As part of Mid-year economic and fiscal outlook (MYEFO) 2011-12, the government announced further reductions to the co-contributions scheme, for personal contributions made from 1 July 2012.
