Hi [fname]. Welcome to the July edition of the Baker Affleck Moffrey newsletter – and a happy new financial year! This month in our newsletter we are discussing the following:
Now is the best time to start planning for the new financial year. If you do not have an appointment booked with your accountant let’s start the new year off the right way and book now. Click here to book an appointment with one of the team from Baker Affleck Moffrey.
Fighting back against the Australian dollar volatility By ANZ Foreign Exchange Team As the Australian dollar rises the cost of imported goods becomes cheaper. Conversely, a depreciation in the AUD will make imports more expensive. The dilemma facing most Australian businesses, who import goods or components, is how to take advantage of the current high AUD. Whilst imported goods should be cheaper now than at any time post float, currency volatility still exists and the cash flow impact of this volatility continues to be felt. The profile below offers an insight into how an importer was able to minimise their exposure to exchange rate movement and protect their NPAT (Net Profit After Tax) margin. Click here to view full article Commissioner targets the cash economy, contractors and employees By Juris Stega The Commissioner of Taxation has released his annual Compliance Program for the 2011-12 year. Click here to view full article
Superannuation- Reform of excess contribution regime gives Australians new powers to request refunds From 1 July 2011, individuals who breach the concessional Click here to view full article
Why is land so expensive? By David Clegg Australian property has long been regarded as a stable and Click here to view full article Client profile - Zane Holmes, Dolphin Surf Craft A true local right from the beginning Zane was born at Allamanda Hospital on 25 March 1981. He was raised on the Gold Coast until the age of 14 when the family moved north to Kawana Waters. Zane decided his true roots were here in the south and headed back to the Gold Coast seven years ago. This is when Zane bought into the very successful family business, Dolphin Surf Craft. Click here to view full article
Book Review - Purple Cow, by Seth Godin Click here to view full article written by Trent Taylor
Economic Update |
Newsletter No. 23 Advanced Strategies through Super Seminar Advanced strategies for self managed super funds, including operating or holding an interest in a business, death benefit nominations, structuring for tax outcomes and protection of assets. This session will be delivered by:
When: Wednesday, 20 July RSVP: Kourtney Lowe
Will the flood levy affect you? The government has introduced a Temporary Flood and Cyclone Reconstruction Levy (flood levy) applying to taxable income for the 2011-12 year only. Individual taxpayers who have a taxable income over $50,000 in the 2011-12 financial year will have to pay the flood levy. This includes foreign residents who have Australian income. Click here to find out the weekly flood levy amount you will have to pay. To make an appointment or to find our more about how the flood levy will affect you, contact your accountant or click here and we will contact you. Source: www.ato.gov.au/
Baker Affleck Moffrey |
contributions cap by up to $10,000 can request that these excess contributions be refunded to them. This new refund option will only apply for first time breaches of the concessional caps .
reliable investment. The data shows that on average Australian property has doubled in value every eight to ten years. Even the GFC was unable to shake it, with property values increasing by up to 16% in its wake. These increases in value have been a blessing to property owners, but for those without, housing is becoming increasingly unaffordable. In cities like Brisbane and Melbourne, the price of land per square metre has more than tripled between 2000 and 2009. This has contributed significantly to the housing affordability crisis affecting Australia.
