Info base

Info Base

Our Info Base is a collection of fact sheets, templates, downloadable forms, lodgement checklists, taxation details and other relevant information. 

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  • INFO BASE

    • Resources

      • Individuals

          Residents: Personal tax rates and thresholds

          These rates apply to individuals who are Australian residents for tax purposes: 

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          Non-Residents: Personal tax rates

          Non-residents are not subject to the $18,200 tax free threshold and are not required to pay the Medicare levy.   

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          Rental Properties

          Purchasing a rental propertyWhen purchasing a financed rental property you may consider:o The interest on the debt is deductible in contrast to the interest on the debt for your main…

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          Motor Vehicle Deductions

          Since 1 July 2015 there are only two methods available for claiming a deduction for motor vehicle expenses:Logbook, orCents per kilometre All motor vehicle claims need to be supported by…

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      • Tax Rates

          Residents: Personal tax rates and thresholds

          These rates apply to individuals who are Australian residents for tax purposes: 

          read more »

          Non-Residents: Personal tax rates

          Non-residents are not subject to the $18,200 tax free threshold and are not required to pay the Medicare levy.   

          read more »

          Weekly, Fortnightly & Monthly Tax Tables

          To calculate the Pay As You Go (PAYG) withholding tax amount for your employees download the weekly, fortnightly or monthly tax tables below, depending on your agreed pay frequency. These schedules incorporate the…

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      • Lodgement Dates

          Tax Return Lodgements 2017

          A list of lodgement dates applicable to tax returns for the 2016 - 2017 financial year is below:Individual Tax Returns –• Individuals who lodge their own tax returns, the due date…

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          BAS Lodgements 2017-2018

          The lodgement program due dates for the 2017 - 2018 financial year are listed below for all quarterly and monthly activity statements, including PAYG withholding payments. Please note the different…

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      • Checklists and Downloads

          Personal Tax Return Checklist

          Income:• Group certificate(s)• Statements of any allowances, Centrelink benefits or pensions• Details of interest received on bank accounts• Dividend statements• Rental property statements from managing agent or details of any…

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          Tax Return Checklist for Rental Property Income

          Income & Expenses:• Rental statements from property agents – these will include the rental income, property agent fees and commissions, and advertising expenses• Body corporate / strata fees•…

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          Requirements for BAS

          Below is a list of the detail required to be able to process BAS documentation for lodgement:Bank statements for the full BAS period – Make sure you have all the…

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          Spreadsheets - Business Income & Expenses

          It's not always necessary to purchase, install, create and update complicated accounting package programs when starting up a business. Sometimes a simple Excel spreadsheet can be more suitable, particularly with sole traders and…

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          Spreadsheet - Rental Property

          This spreadsheet is a useful tool for monitoring your rental property's income and expenses for your year end tax return. Keep track of your quarterly earnings and expenditure, as well as capital purchases…

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          Spreadsheet - Motor Vehicle Expenses

          This spreadsheet is a useful tool for monitoring and recording your motor vehicle expenses for your year-end tax return. Keep track of your quarterly expenditure, including lease payments and interest on loans…

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          Template - Motor Vehicle Logbook

          A logbook can help you get the most from your business or work-related motor vehicle use. Download this template so you can keep track of each business or work-related trip…

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      • Superannuation

          Consolidating your super

          There are numerous benefits to keeping your super in one place.  Apart from only paying one set of fees, you will also be able to keep track of your retirement…

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          Binding Beneficiaries Nominations

          Under superannuation law, the Trustee of your super fund has the discretionary power to decide which of your dependents receives your super if you die before you retire. The law…

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      • Estate Planning

          Template - Last Will & Testament

          A Will is a legal document that clearly sets out your wishes for the distribution of your assets after your death. Having a clear, legally valid and up-to-date Will is…

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      • Starting a New Business

          Starting Up Your Business

          1.  Business PlanBefore you register for an ABN and start trading it is vital to sit down and flesh out the finer points of your business idea: Consider the different…

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          Company & Trust Set Up

          If you decide on a company or trust structure for your new business AFYF can assist you in meeting the various legal, ATO and ASIC documentation necessary for registration and…

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          Registering a Business Name

          When you first get started in a business you should register your business name with ASIC. Registration of a business name lasts for either one or three years, depending on the…

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          Company & Partnership Agreements & Deeds

          When first setting up your partnership, company or trust there may be a requirement to draw up and sign an agreement or deed. These agreements can regulate the arrangements between partners,…

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          Invoicing - What to Include

          Invoices can be hand-written, carbon copies or computer generated from programs like Xero or MYOB, but they all need to include certain details.  For businesses registered for GST invoices need…

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      • BAS & GST

          BAS Lodgement Dates 2017-2018

          The lodgement program due dates for the 2017 - 2018 financial year are listed below for all quarterly and monthly activity statements, including PAYG withholding payments. Please note the different…

          read more »

          Requirements for BAS

          Below is a list of the detail required to be able to process BAS documentation for lodgement:Bank statements for the full BAS period – Make sure you have all the…

          read more »
      • Business Planning

          Business Planning

          A business plan is an essential tool in starting up your business. It allows you to set a clear direction for your business, to communicate planning objectives and strategies to…

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      • Employing People

          Weekly, Fortnightly & Monthly Tax Tables

          To calculate the Pay As You Go (PAYG) withholding tax amount for your employees download the weekly, fortnightly or monthly tax tables below, depending on your agreed pay frequency. These schedules incorporate the…

          read more »

          Job Descriptions with Various Templates

          The job description should be the very first step in the recruitment process. It provides a support for writing job advertisements, specifying necessary qualifications, interviewing candidates, planning job training and…

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          Letters of Offer & Example

          A letter of offer is an important aspect when hiring a new employee as it outlines the terms and conditions of the job being offered.Try to include as much detail…

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          Letters of Appointment & Example

          A letter of appointment is another aspect of the recruitment process that the employer should complete to confirm the details of employment. It generally only needs to be a short…

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          Issuing Payment Summaries to Employees

          Payment summaries must be issued to every employee paid during a financial year ending 30 June. These summaries should be given to employees by the 14 July each year.The information…

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      The new IR laws will need careful attention

      In the past four years Australia has seen more change in Industrial relations than in 100 years previous to it. As employers started to manage ‘Work Choices’ with a degree of confidence, the Australian Industrial Relations framework has been changed again.

      The change from ‘Work Choices’ to ‘Fair work’ (the new system) will be in two stages. The first stage is scheduled to begin on July 1, 2009, which includes the reintroduction of strong unfair dismissal laws, including the abolition of exemptions for small and medium businesses that have less than 100 employees.

      Small businesses will also be made to adhere to a ‘Fair Dismissal Code’, which includes a delicately worded checklist. This also sees the introduction of ‘Good Faith Bargaining’ which is a potential significant risk to all business whether they have one or one hundred employees who are members of a trade union.

      The first stage also sees the abolition of Australian Industrial Relations Commission, Australian Fair Pay Commission, Workplace Authority and Workplace Ombudsman among several others. They are to be replaced with a one-stop-shop with the aim of performing all these functions as a super-body.

      The second wave of change is scheduled to commence on January 1, 2010 and includes:

      • New ‘National Employment Standards’ (NES), which includes the statutory right to redundancy pay for all employees (although there may be some exemptions)

      • A statutory right to ‘family friendly provisions’, including two years unpaid maternity leave, unless it is proved to be unreasonable, and

      • ‘Modern Awards’ which will impact virtually every employment contract and agreement that employers and employees have agreed to.

      Unfair dismissal

      Unfair dismissal is back across the board. ‘Work Choices’ exemptions are gone, including the exemption to small and medium businesses with fewer than 100 employees. Businesses with 14 employees or less (inclusive of casual employees) will have a twelve month qualifying period in which they can dismiss employees free from unfair dismissal, while those with 15 and above have 6 months.

      Of key concern to businesses with 15 or more employees (inclusive of casual employees) is that they are bundled in the same class as multi-national corporations who have an army of IR experts on hand to advise managers.

       Small businesses will have to adhere to the ‘Fair Dismissal Code’. This is a checklist which employers will be required to tick all the boxes in order for the dismissal to be deemed fair should it fall outside of the qualifying period. The form includes delicate language like “employer believes reasonable grounds”, “employees conduct is sufficiently serious” and “valid reason”. Whether or not the employer’s belief is reasonable or their reason is valid, or that an employee’s conduct is sufficiently serious, rather than merely serious, can and will be tested by the new super-body.

      If employers act in good faith yet in ignorance of changes and/or technical definitions, they will be subject to a range of penalties, including reinstating the employee and paying damages. Employers should consider using independent workplace investigators as an independent party as a buffer in the process to increase the likelihood of providing the decision to dismiss as correct beyond the balance of probabilities.

      For example, take a case where an employee abuses a work mobile phone privilege for one thousand dollars and does not want to pay the money back. You will need to consider:

      • Does the employee have a valid contract of employment?

      • If so, is there any clause relating to phone use/abuse, and do you contractually bind your employees to abide by policies and other obligations?

      • What policies do you have regarding telephone use/abuse?

      • To what extent do your policies absolutely and unambigously define telephone use/abuse and consequences the employer may deem acceptable?

      • In light of the massive damages awarded in the 2006 cause of ‘Nikolich v Goldman Sachs JB Were (which in part related to the interplay between contracts and policies), and deliver them to your employee at different times?

      • What performance management and warning structure do you have, and is it clear and unambiguous to all employees?

      • Have there been any past warnings, and if so, are they legally valid and worded correctly and within a valid time frame?

      • To what extent would Fair Work Australia, in assessing your contracts, policies and workplace custom, find ambiguity in these, on the part of the employer?

      If you cannot confidently assert the acceptable answers to these questions, then it would be likely a decision to dismiss would be ‘unfair’, thus to avoid this happening to your business you should give serious consideration to developing or improving employment contracts and policies. Policies can no longer be ‘motherhood’ statements or a general nicety.

      Policies need to be developed as a watertight legal platform from which you can manage the process of unfair dismissal claims. With over 150,000 people set to become unemployed over the next year or two, it would be reasonable to expect many former employees to test the system to see if they could receive damages (cash benefits) in the face of financial uncertainty. Businesses could be closed unless they have watertight contracts and policies in place, together with adherence to the ‘Fair Dismissal Code’.

      The practical implications of this increased risk means businesses will have to strategise with an Industrial Relations/Employment Law specialist in conjunction with their accountant on assessing their workforce prior to May 2009. Of concern is the fact that businesses with 15 employees or more (including casual employees) will be regarded in law as the same as a multi-billion dollar conglomerate with an army of IR and employment law professionals.   

      David Chapman
      My Business, February 2009


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