Synectic Blog
Business, Wealth Management & Taxation
The latest news and insights from Synectic
Business, Wealth Management & Taxation
The latest news and insights from Synectic
Information on this webpage has been prepared on a general advice basis only. The advice has been prepared without taking account of your specific objectives, financial situation or needs. Accordingly, you should, before acting on the advice, consider the appropriateness of the advice having regard to your objectives, financial situation and needs. In cases where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should obtain a Product Disclosure Statement (or other relevant information statement) and consider such document before you make any decision about whether or not to acquire the product. Self-managed superannuation funds are not cost competitive for lower balance accounts and are not appropriate for all investors due to the time, cost and responsibility involved in managing an SMSF. For these reasons, it is imperative that you seek advice from your financial adviser before making any investment decisions.
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.
Devonport
A: 49 Best Street, Devonport
P: (03) 6424 1451
Hobart
A: 30 Burnett Street, North Hobart
P: (03) 6239 4900
Launceston
A: Level 1, 99-103 George Street, Launceston
P: (03) 6337 6777
Office Contact
M: PO Box 6003, Devonport, TAS, 7310
E: info@synecticgroup.com.au
What is Adjusted Taxable Income and why do you need to know?
/in Individuals, Wealth Management /by synecticgroupIf you apply for certain tax offsets, concessions or government benefits, you may be asked to provide your “adjusted taxable income” (ATI).
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June 2018 Newsletter
/in News /by synecticgroupSee our latest newsletter here:
Synectic news June 2018
Personal superannuation changes you need to know about
/in Individuals, Wealth Management /by synecticgroupLet’s talk about superannuation – it’s one of our favourite topics!
Okay, you might not get as excited about superannuation as we do. But there are a number of recent changes to the tax treatment of super that we think you should be aware of.
To help you get the most out of your retirement savings and avoid any unexpected pitfalls, we’ve outlined some of the major developments here.
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Tax Planning for Primary Producers
/in Business & Corporate Advice, Wealth Management /by Danny Hoare‘End of financial year’ is a big deal for us accountants. With the intensity of the annual budget, tax lodgement due dates, and FBT deadlines all easing towards the end of June, we’re well and truly ready to relax a bit … maybe even welcome in the new financial year with a wild office party and NFY-eve countdown…
The other thing we love doing around this time of year is tax planning!
And the last few federal budgets have included some serious concessions for primary producers. We’ve listed below a few of the key tax planning opportunities for primary producers, and outlined some of the changes that have been made over the past few years.
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Are you ready for Single Touch Payroll?
/in Business & Corporate Advice /by synecticgroupSingle Touch Payroll (STP) changes the way employers report payroll information to the Australian Taxation Office (ATO), and it is mandatory from 1 July 2018 for employers with 20 or more employees.
So … you might be wondering: ‘What is Single Touch Payroll?’; ‘How do I get ready?’. And they are great questions!
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Our review of the 2018-19 Federal Budget
/in News /by synecticgroupSee our review of the Federal Budget – the issues that matter most to you, your business and the Tasmanian economy:
Read our Federal Budget review
March 2018 Newsletter
/in News /by synecticgroupSee our latest newsletter here:
Synectic news March 2018
Keeping a vehicle log book – plus your free template
/in Business & Corporate Advice, Individuals /by synecticgroupWhen claiming work-related car expenses, many people miss maximising their claim due to poor record keeping.
Inadequate records can also cost dearly if you are audited by the Australian Tax Office (ATO).
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What Labor’s changes to the dividend imputation system mean
/in Business & Corporate Advice, Wealth Management /by synecticgroupThere has been much discussion about the dividend imputation system in recent weeks as the government and the opposition play political tennis with franking credits.
On 13th March, Opposition Leader Bill Shorten announced Labor’s plan to change the dividend imputation system if they win the next federal election. The changes would make franking credits non-refundable and, Labor claims, save the budget $59 billion over the decade to 2028-29.
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Are you taking data security seriously?
/in Business & Corporate Advice /by synecticgroupYou’ve heard it all before: change your passwords, make them difficult to guess … blah, blah, blah.
But it’s well past the time for us all to take data security seriously. Cyber criminals are targeting Tasmanians and their businesses of all types and sizes. If you’re not looking after your and your customers’ data you could well be the next victim.
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