Welcome to our August monthly newsletter!

We would love to welcome Shalee to our team! Shalee is our new administration assistant and will be the first point of contact in our office so please make sure you introduce yourself next time you’re around.
Head on over to our website
Monthly tax tip:
The Medicare levy surcharge (MLS) is payable if an individual has a taxable income of $90,000 or a family taxable income of $180,000 and does not have private patient hospital cover. The Medicare levy surcharge starts at 1% of taxable income and increases to 1.5%, where an individual’s taxable income is $140,000 or for families $280,000. So to avoid paying this surcharge, an individual or family can instead pay for private health insurance with private patient hospital cover. This means a single person with a $100,000 taxable income and no private hospital cover which would typically be hit with a $1,000 Medicare levy surcharge can avoid it by spending $500 to take out a basic private patient hospital cover policy. A taxpayer can save a bit of money by just paying for the basic hospital cover and they get something out of it, unlike paying for the surcharge – it’s a win-win!

If you would like to schedule a consultation with us then please jump onto our website where you can see our availabilities and book a time that suits you.

Book an Appointment
Important Dates!
21 August:

  • Lodge and pay July 2021 monthly business/instalment activity statement

25 August:

  • Lodge and pay quarter ending 30 June 2021 activity statement

28 August:

  • Lodge and pay quarter ending 30 June 2021 superannuation guarantee charge statement if contributions were not paid on time*
  • Lodge taxable payments annual report (TPAR)*

*Super guarantee charge is not deductible.
*TPAR will need to be lodged for the following industries: building and construction, cleaning, courier services, security and IT services.

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