Entries by synecticgroup

2017-18 Federal Budget: Housing affordability and supply

Housing affordability has been one of the major components of this year’s Federal Budget, which featured a comprehensive package of tax and superannuation measures aimed at increasing housing availability and improving affordability. The government has also reigned in tax breaks enjoyed by many residential property investors in the hope of providing Australians with confidence that […]

2017-18 Federal Budget: Personal Taxes and Medicare

Personal taxes The option of claiming a standard tax deduction for work expenses has long been talked about, in the hope of simplifying personal tax returns. It was speculated to be delivered in this year’s Federal Budget, however was not to be. The 2017-18 Budget also contained no changes to the personal income tax rates […]

Farm Management Deposit (FMD) scheme changes: What they mean for Tasmanian farmers

The Farm Management Deposit (FMD) scheme allows farmers to set aside primary production income in years of high income, to draw on in leaner years. The deposits are an excellent cash flow planning tool and an important strategy for primary producers to consider in their tax planning. They help farmers build up cash reserves while smoothing […]

FBT on portable electronic devices in 2017

The FBT exemption for small business employers providing work-related portable electronic devices to employees has been expanded in the 2017 FBT year (that is, from 1 April 2016). Under the old rules, FBT exemption does not apply to multiple portable electronic devices provided to an employee in the same FBT year, where those multiple items have […]

3 Tips to Update Your Business Plan for the New Year

What’s your New Year’s Resolution: “stay fit”, “stress less”, “save more”? The New Year is a welcome opportunity for some personal reflection and goal setting, but are you making any resolutions to help make your business better than ever? January is a great time to consider your business goals and to plan what you’d like […]

2017 Synectic UTas “Scholarship in Business” winner

Synectic wish to congratulate Chloe Smith, the 2017 University of Tasmania (UTas) recipient of the Synectic “Scholarship in Business”. The annual scholarship is made available to a student entering the second year of an undergraduate Business degree. In recognition of the long heritage of our firm in the Devonport region the student must originate from North-West Tasmania, however may be attending any […]

Tax and the sharing economy

There are more and more sharing economy, or collaborative consumption, websites and apps hitting the market in Australia and they are making their way from the big cities into the Tasmanian market. With the holiday season upon us, short-term vacation rentals through apps like Airbnb and Stayz will be in full swing. And now that […]