Entries by synecticgroup

“Single Touch Payroll” to cut red tape for employers

At the end of 2014 the government announced its Single Touch Payroll (STP) initiative with a promise that it will cut red tape for employers by simplifying tax and superannuation reporting obligations. The application is still about a year away, but STP builds on the ongoing initiatives to build and improve the current Standard Business Reporting products, and utilises […]

Celebrating 20 years of excellence as a CPA

Synectic are proud to congratulate client manager Ros Kingston on twenty years as a Certified Practising Accountant (CPA). Ros was recently presented with her Twenty Years pin by CPA Tasmania Divisional Council President, Anne-Marie Martin, at a function held at Launceston’s Gorge Restaurant. “Being a CPA is a mark of high professional competence. It indicates […]

Federal Budget 2015: Individuals & Families

There were few particularly notable budget impacts for personal taxation; personal tax rates will not change, however changes were announced for work related car expenses, Medicare levy thresholds, and the Zone Tax Offset. For families, a new childcare package was announced and parental income testing for allowances to young people will be amended.  The budget announcement which […]

Federal Budget 2015: Superannuation

As promised, there were no new changes for superannuation. However, a number of measures affecting pensions were announced including: rebalancing asset test thresholds and ‘taper rates’; improving the integrity of social security income tests arrangements; a decision not to proceed with elements of the previously announced measure to maintain eligibility thresholds for Government payments; and a decision not to […]

Federal Budget 2015: Small Business

Small business is a sector that came out a clear winner from this year’s Federal Budget. In an effort to support growth and employment, announcements included: tax cuts for every small business; accelerated depreciation for assets less than $20,000; an immediate tax deduction for professional expenses; CGT roll-over relief; and FBT changes for electronic devices.

Federal Budget 2015: General Business and Tax Administration

General business announcements include: expansion of tax concessions for Employee Share Schemes; changes to the R&D tax incentive; a new tax system for managed investment trusts; streamlined business registration; and facilitation of crowd sourced equity funding. For tax administration: establishment of a Serious  Financial Crime taskforce; the value of penalty units will increase; GST will apply to imported digital products and services; and salary sacrificed […]

You can count on our Chartered Accountants

Synectic wish to congratulate Teresa Stanley on her successful completion of the Chartered Accountants Program. Teresa joins ten other Synectic staff to have gone through the rigorous program. The program encompasses professional education combined with practical, mentored experience and is well recognised to produce accountants with superior technical skills and outstanding professional competence. It is the only professional accounting qualification […]

Welcome Teresa Stanley to our audit team

Our team continues to grow! We’re happy to welcome Teresa Stanley, our newest Audit professional. Teresa is based in our Launceston office. She brings four years experience in public practice and a diverse background including ASIC compliance and insolvency, teaching and administrative roles. We are thrilled to have Teresa’s wide range of experiences and skills on […]