Bentleys Melbourne

Dear Monica,

Welcome to the new edition of the Bentleys e-Newsletter.

All the Partners & Staff at Bentleys would like to wish you a happy festive season and prosperous new year. We thank you for your association and look forward to continuing this association in 2009.

For your convenience our office will remain open during the festive season.

Please note however that our office will be closed on January 2nd 2009 and for the public holidays.

If you would like more information, or to discuss how Bentleys can assist you, please contact us

Bentleys is committed to protecting your privacy. To see our privacy policy, click here

Best regards

Your team at Bentleys

Survival In Difficult Times

Many business operators have already taken steps to ensure that their businesses will survive these difficult times. Suggestions on implementing planning for survival in difficult times include:-

Review Your Unique Selling Proposition!

How can you deliver outstanding service to your customers/clients each time you are dealing with them?

Medicare Levy Surcharge

The Tax Laws Amendment (Medicare Levy Surcharge Thresholds) 2008 received Royal Assent on 31 October 2008. The Bill, after the Senate’s amendments, increased the Medicare levy surcharge threshold:

Abolishing Trust Cloning

Trust cloning is a common practice used for succession planning and asset protection purposes.

The Government has announced that it will remove the ‘trust cloning’ exception which disregards any capital gains arising when a taxpayer:

The Tax Office has released a Draft Superannuation Guarantee Ruling in which it states the Commissioner’s preliminary view on whether payments to employees are ordinary time earnings (OTE) and/or ‘salary or wages’.

SMSFs and In-house Assets

The Tax Office has also released a Draft SMSF Ruling in which it explains the Commissioner’s preliminary view on the core concepts in the definition of ‘in-house asset’.

Contact details

Phone
(03) 9274 0600

Fax
(03) 9274 0660

Email
Email us

Address
Level 7, 114 William Street Melbourne VIC 3000

What's new?

Investment Allowance to Boost Business Investment

The Government has recently announced a 10 per cent temporary investment allowance in the form of an additional tax deduction which will encourage important capital investment by Australian businesses.

The allowance will be in the form of an additional tax deduction equal to 10 per cent of the cost of an eligible asset. The allowance will be applicable to most new tangible depreciating assets which includes most items of plant and equipment over $10,000 which are acquired or ordered by the end of the current financial year.

The allowance will apply from 13 December 2008 until the end of 30 June 2009. To be eligible a taxpayer must start to hold the asset under a contract entered into between those times or start to construct the asset between those times. Assets must also be installed ready for use by the end of 30 June 2010

Website Links

Bentleys Melbourne

Bentleys Advantage

Please contact our nearest office if you would like more information on this topic.

Bentleys Chartered Accountants and Business Advisors has offices in:

Australian capital cities Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra

Regional and suburban Dubbo, Gosford, Ipswich, Maroochydore, Newcastle, Tamworth

This publication is provided to you by Bentleys Australia Pty Ltd (Bentleys) on a complimentary basis. The information provided is a general guide only and Bentleys accepts no responsibility for the accuracy of the information or opinions contained herein. The contents do not constitute business, accounting, taxation or financial advice and should not be relied upon as such.

Bentleys is a national association of independent accounting firms in Australia. The member firms of the Bentleys association are affiliated only and not in partnership.
Bentleys participates in the Praxity AISBL International Alliance of accounting firms.

Liability limited by a scheme approved under Professional Standards Legislation.