Despite no major new superannuation measures in the 2017-18 Federal Budget, the Government continues to tinker with Superannuation rules. In particular, the introduction of the $300K additional non-concessional contribution for older downsizers creates an exception to the recently-introduced Total Superannuation Balance $1.6m cap, and the concessions for first home-buyers to use super to save for […]
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Entries by synecticgroup
Small and medium businesses were the big winners of last year’s budget. It is therefore no surprise that the 2017-18 Federal Budget announcements have been less stimulating. However, there are still tax and business planning opportunities coming out of the Budget which we look forward to assisting our clients with.
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 […]
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 […]
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 […]
Navigating the tax system to ensure you are meeting all your obligations as an employer can get confusing. In this article we look at some common areas of concern for business owners and provide some handy tools and tips.
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 […]
Last week Xero released an enhancement to their invoice reminders. The release allows you to bulk-select groups of invoices to switch reminders on or off from the main Invoicing list.
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 […]
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 […]
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: Level 1, 99-103 George Street, Launceston
P: (03) 6337 6777
M: PO Box 6003, Devonport, TAS, 7310