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 […]
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Entries by synecticgroup
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 […]
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 […]
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 […]
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.
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 […]
Despite the lead-up mutterings that the budget was going to be “dull and boring”, there were nevertheless a few surprises contained in the pages of the budget papers.
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 […]
The Board of Taxation has recently released a report titled Review of Tax Impediments Facing Small Business, which contains its recommendations to government on what it deems to be the main impediments to small business owners in Australia. The board is a body that was set up to look at various aspects of our tax […]
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 […]
Synectic is a Chartered Accounting and Advisory firm that brings together the skills of accountants, business advisers, financial planners, self-managed superannuation experts, and auditors. Our team operates state-wide from Devonport, Hobart and Launceston offices.
Our mission is to help people, businesses and the community prosper.
We offer the depth of knowledge, specialist skills and progressive resources usually associated with much larger firms. Yet our size and availability allows us flexibility and enables us to develop an in-depth understanding of your business and financial affairs.
A: 49 Best Street, Devonport
P: (03) 6424 1451
A: 30 Burnett Street, North Hobart
P: (03) 6239 4900
A: Suite B, First Floor, 99-103 George Street, Launceston
P: (03) 6337 6777
M: PO Box 6003, Devonport, TAS, 7310