A Valentines Update

Happy Valentines Day!  There you go, did you expect to get some love from your accountant today?

• Please remember that Business Activity Statements are due in a fortnight – with the extended extension it is easy to forget.
• I’ve previously written about the multiple employees all with different superfunds solution.  There’s been an announcement that the ATO is going to be taking over the clearing house with medicare passing this on.  It did cross my mind that this will make it significantly easier for the ATO to determine which employers are behind with their compulsory superannuation obligations.
• We sent letters out last month to all clients who are yet to provide their 2013 tax documents and requested these be in our office by February 28th.  This is particularly necessary for those with self managed superannuation funds as these documents need to be audited prior to lodgement with the Australian Taxation Office.
• The ATO has released the March 2014 quarter rates for which general interest is charged.  This means that if you have a debt with the ATO that is overdue, they will charge you interest at the rate of 9.59%.  On the flipside, if the ATO owe you – the interest rate on overpayments, early payments or delayed refunds is 2.59%.

Lastly, something exciting happened this week – my 2014 master tax guide arrived!

Despite having an online subscription, there’s something about physically having this sitting in my office that makes me happy.  I might just be becoming one of those stereotyped boring accountants……………………