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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      Bargaining under the new fair work system

      From January 1, 2010, it is proposed Fair Work Australia (FWA) will be the super body replacing the Australian Industrial Relations Commission, Workplace Authority and Workplace Ombudsman among several others with the aim of performing all these functions as an industrial ‘quick-e-mart’.

      Employers called before FWA will generally not be allowed the representation of a lawyer or paid agent when fronting FWA. FWA will have a range of jurisdictions including unfair dismissal, industrial action and regulating “Good Faith Bargaining”.

      Union rights of entry

      The existing rules and rights under the Workplace Relations Act for the most part remain the same. However the government’s changes expand the circumstances in which trade union officials can enter workplaces. Trade union officials will be able to enter premises to hold discussions with one or more employees who wish to participate (who perform work on the premises, whose industrial interests the union is entitled to represent).

      What this means in real terms is that trade unions can enter workplaces on a significantly greater set of circumstances as there is no need to refer to an industrial instrument that governs the employees work. Furthermore, when a trade union official enters premises to investigate suspected breaches, the Bill allows for access to relevant documents regardless of whether they relate to a union member and in doing so dispenses with the current safeguard in the current laws that only allows for the inspection of union member records unless the commission orders otherwise.

      Good Faith Bargaining

      What you need to know:

      1. Trade unions may become parties to enterprise agreements if they represent only one employee. This provides unions with substantial rights at any given business.

      2. Where a majority of employees at a workplace wish to bargain collectively, their employer will be obliged to bargain collectively with them and in good faith. This majority may be made simply by a show of hands.

      3. If you are a business owner, director or CEO and you are representing your business as a participant to the enterprise bargaining process, you will be required to:

      • Attend and participate in meetings at reasonable times

      • Disclose relevant information in a timely matter (although commercial in confidence material will be protected)

      • Respond in a timely matter to proposals made by the other party

      • Give genuine consideration to other parties’ needs and provide reasons for responses, and

      • Refrain from capricious or unfair conduct which undermines freedom of association or collective bargaining.

      4. These requirements do not compel you, as an employer, to finalise an agreement. However, should you fail to comply with these directions, the other participants (i.e. trade unions) may obtain an order from FWA to instruct you to bargain in good faith. Should you not comply, for any reason with ignorance being an excuse, FWA may arbitrate the matter and make a workplace determination.

      5. In relation to agreement making, a better off overall test (BOOT) will be applied for a collective agreement to be approved by FWA. This means an agreement will need to meet the 10 legislated minimum standards where there is no relevant award. Where there is an award, the test will be applied against both the legislated and award standards.

      Risk for businesses

      The inability to bring paid agents before FWA poses some risk to business owners who are not able to succinctly and eloquently put their case forward. The need for a comprehensive and independent business case to take into FWA appears the best solution to best represent the facts on behalf of small businesses. FWA is a radical change from everything employers to employees have ever known and may take some time to get used to.

      Furthermore, the government’s new IR bill put a sharp emphasis on collective bargaining, so businesses need to be ready for the possibility of having to negotiate with trade unions. New union rights, such as the right to inspect your business records pertaining to all employees, indicate a strong position for trade unions in your workplace. Union observers note that ‘good faith bargaining’ will give unions new and vastly improved opportunities for workplace organising and activism.   

      Some employers seem incensed that unions – which represent a mere 14 per cent of the private sector workforce – will get a seat at the bargaining table. The Australian Mines and Metals Association is on record as suggesting that the proposed changes would “give unions the key to the door of all workplaces” including 90 per cent of businesses that currently had no dealings with unions. The Australian Retailers Association is on record as saying small business is ill equipped to cope with the new industrial system which heavily discriminates against small business.

      The changes are described by some as being tough, unfair and very inappropriately timed, particularly for small and medium businesses. Owners and managers of these businesses can manage the changes in only two ways.

      Either business owners, as well as focusing on their core business in these tough economic times, become fully aware of the changing laws for unfair dismissal and for collective bargaining in making sure they do not fall foul of the law and, more seriously, for agreement making, good faith bargaining orders. Or, business owners avail themselves to specialist advice. Whilst neither option is ideal for struggling small and medium businesses, those that bury their head in the sand are liable to have it lopped off.

      David Chapman
      My Business, March 2009


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