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MK_ASSOCIATES

  1. Go to facebook.com/pages/Matthew-… for our FB competition!
  2. Did you know that the no.1 mistake made in individual tax returns is people not claiming deductions they are entitled to?
  3. A draft legislation released to allow SMSFs to hold collectables and personal use assets as long as it is held for investment purposes.
  4. Generally, U must reach preservtn age before U can access UR super but U may be eligible to access UR super early in limited circumstances.
  5. First Home Owner Grant ($7,000 bonus and stamp duty exemption) effective from 1 January 2011, the cap was increased to $835,000.
  6. Anstis case: you can claim study expenses ($550) for 2007/2008/2009/2010 tax years retrospe'vely even if you were receiving Youth Allowance.
  7. Floody levy calculator @ http://www.mkaccountants.com.au/content_common/pg-Tax-FAQ.seo
  8. Free tax seminar for small business owners in NSW - http://www.ato.gov.au/corporate/Seminar.asp?state=NSW&program=TB
  9. Education tax refund up to $390 for primary school students / $779 for secondary school students are available for the 2010 tax year.
  10. If you are affected by the flood, ATO will automatically defer the due date for December monthly activity statements to 21 February 2011.
  11. For businesses under $2M turnover, they can apply for 12mths interest free period on their tax payments. Contact us for more information.
  12. The paid parental leave scheme ($570 per week for 18 weeks) starts on 1 January 2011. Contact us for more information.
  13. ATO is warning everyone to be careful with their personal information online.. lots of internet fraud around this time of year.
  14. MHK eNewsletter Issue 1 now available! http://www.mkaccountants.com.au/SiteMedia/w3svc1237/Uploads/Documents/January%202011%20Edition-2.pdf
  15. Record keeping is very important for small business owners. Learn more about it at: www.ato.gov.au/assistancevisit
  16. Q TaxTip - If you buy off the plan property under $600K before July 2012, the stamp duty is exempt (a potential saving of up to $25K)!
  17. Quick Tax Tip - If you have HECS/HELP debt and annual income is more than $44,912, you will be subject to compulsory repayment in that year.
  18. If you earn more than $77K, you should consider getting a private heath insurance hospital cover to avoid 1% medicare levy surcharge!
  19. Matthew Ko & Associates now on twitter!