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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      Back to business basics

      Market forces worldwide are causing a whirlwind of creative destruction for businesses and their owners. In order to avoid this destruction, the question is, how will you react to our current economic circumstances and how can you make the money that you’ll need to survive.

      It is simply a matter of looking at events (no matter what they are) and reacting not in a negative way, but rather in a way, and from a perspective that uncovers value, upside potential and opportunity. With that in mind, a series of articles this year will dedicate time to getting “Back to Business” with proven strategies and tactics that have already and will continue to transform companies around the world and in every type of economy , including those affected by downturns like the one we find ourselves in now.

      Not only will these strategies help readjust your entrepreneurial attitude, they will also help your business survive and thrive immediately – and will serve as the foundation for continuing growth well into the next economic spring and summer.

      Firstly, you must realize that the needs of your customers and your market are different than those needs were a year ago, or even six months ago. With that on your mind, you will need to adapt to those different needs and change your business in direction of meeting those needs in order to survive. The new vision for your business should be highly focused and scaled to what your customers truly want. In these times, success won’t necessarily be based on what you want to offer, but rather what the market is telling you to offer.

      You will also need to put an extreme focus on profitability. This may mean scaling back your plans for 20 locations nationwide to ten locations that run on higher profit margins.  Now is not the time to over stretch. In fact doing so could be seen as death for any business.

      A laser-like focus on profit and operations will pay off big during the next economic spring. Not only will you be better positioned financially than your competition, you will also develop the discipline to stay close to your core business. While other companies will use the next boom to chase after any market or sell any product- you efforts now to pare down and narrow your focus will keep you from making the same mistakes.

      In addition to a changes mindset and business focus, you’ll need to commit to marketing at every level of your business. This doesn’t mean buying high priced ads or newspapers or on TV. It means creating a marketing and sales oriented culture that runs your business. Through altering details – form how your team answers the phone, to how they greet customers and guide them through the sales process to developing a solid customer data base.

      Focus, marketing mastery and numbers mastery will be crucial if you want to ride out this downturn. Put another way- It’s not your competition that is forcing the game this time. It’s the market- and although the market’s judgment is harsh, it is usually fair.

      While I’m sure you’ve heard all of this before, you’d be amazed how many owners don’t do the simplest things that could make them successful. You simply can’t run a successful company without profit and without systemized ways to grow your customer base and keep them coming back.

      The upside of all of this is that right now, the world’s economic stage is being set for the next big boom. When will it happen? Who knows? The point is that now is the time to get your own basics right so when the economic recovery hits full swing, you’ll be ready to capture even greater profits and success. SO start now and take the next few days to develop a new vision and plan for your company- based on what your customers, and the market is telling you.

      The feedback could be the foundation for some of the best (and most profitable) decisions you could ever make for your company.

      Brad Sugars
      My Business February 2009


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